India-initiated Start-up 20 to continue

New Delhi: The G20 Leaders' New Delhi Declaration welcomed the establishment of the Start-up 20 Engagement Group during India’s G20 Presidency and its continuation.

Dwelling deeper on the financial crisis posing a variety of volatilities and vulnerabilities with a bleak and uneven economic situation and recovery of economies and their impacts on people at large, across the globe, in particular in the aftermath of COVID-19. The declaration expressed commitment to 'Strong, Sustainable, Balanced, and Inclusive Growth'.

Recognising the critical role of private enterprise in accelerating growth and driving sustainable economic transformations. It has resolved to work with the private sector with a 4-point initiative. They include creating inclusive, sustainable, and resilient global value chains, and supporting developing countries to move up the value chain; Facilitate investments, including Foreign Direct Investments (FDIs) towards sustainable business models; Developing pipelines of investible projects in developing countries by leveraging the expertise of MDBs to mobilise investments and promote the ease and reduce the cost of doing business.

The declaration further recognised that start-ups and MSMEs are natural engines of growth. They are key to socio-economic transformation by driving innovation and creating employment. They are key to socio-economic transformation by driving innovation and creating employment. "We welcome the establishment of the Start-up 20 Engagement Group during India’s G20 Presidency and its continuation," it added.