B20 Summit: Technology offers greater inclusivity in trade, helping MSMEs, LDCs to participate better, says Mallika Srinivasan

Technology offers the opportunity of greater inclusivity in trade, enabling medium and small enterprises and least developed countries (LDCs) to participate more effectively in global supply chains, said Mallika Srinivasan, Chair, B20 India Taskforce on Inclusive GVCs for Resilient Global Trade and Investment and Chairman & MD, Tractors and Farm Equipment (TAFE), India at a session on Inclusive GVCs for Resilient Global Trade and Investment at B20 Summit India on Friday.

“This year’s Task Force discussions introduced several novel and pivotal concepts that aligned with the evolving economic and business landscape. Multifaceted benefits technology being one of them,” Srinivasan said.

Srinivasan said that new technologies such as Artificial Intelligence (AI) and blockchain have direct, measurable benefits in terms of increased efficiency, reduced cost, greater transparency, and predictability.


Srinivasan also highlighted the incorporation of fresh Key Performance Indicators (KPIs) by the B20 task force which encompass crucial areas such as human development, food security, digital purchasing engagement, foreign direct investment (FDI) and progress in nations facing financial gaps.

The task force has recommended advances towards global value chains (GVC) that are characterised by resilience, inclusivity, innovation, technology and sustainability.