G-20 labour ministers adopts Entrepreneurship Action Plan

BEIJING: G-20 nations, including India, today adopted an action plan to encourage entrepreneurship as they identified it as a major opportunity to increase employment among the young people.

Around 300 delegates, including ministers from G20 members and invited countries, as well as representatives from international organisations, gathered in Beijing for the two- day G-20 Labour and Employment Ministerial Meeting which concluded today.

Labour Minister Bandaru Dattatreya took part in the meeting.

The main outcome was adoption of the Entrepreneurship Action Plan, as they identified entrepreneurship as a major opportunity to increase employment, said Yin Weimin, China's minister of human resources and social security, told a press conference.

They also analysed the ramifications brought about by globalisation, technology and population aging, state-run Xinhua news agency quoted Yin as saying.

"G20 economies agreed to carry out the action plan and create a policy environment for spurring entrepreneurship, especially among young people," Yin said.

They welcomed China's leadership in setting up the entrepreneurship research centre for G20 economies, he said.

The meeting also adopted the G20 initiative to promote quality apprenticeships, which improve workers' skills in both theory and practice and meet the needs of the labor market.

The ministerial meeting was held in advance of the G20 Hangzhou Summit in September.