B20 meeting under India’s G20 presidency begins in Gangtok today

Business20 (B20) is one of the most prominent groups amongst various engagement groups with companies and business forums, representing the global business community.It aims to deliver concrete actionable policy recommendations

Based on the core themes of ‘Tourism, Hospitality, Pharmaceutical and Organic Farming’ The B20 Conference under India’s G20 presidency began in Gangtok.

Chief Minister Prem Singh Tamang delivering his key note address as the Chief Guest, highlighted that with the Sustainable Development Goal index of 71 scores, high amongst States and have been successful in creating sustainable livelihood through pro people policies. Chief Minister further stated that Sikkim has been recognised as the First Organic State in the country and a booming tourism potential which can be leveraged by the global community.

Delegation from 22 countries with 53 overseas participants converged in Sikkim for the Conference which also included more than 100 Indian delegations. They will be taken to the Rumtek Monastery, the largest monastery in Sikkim tomorrow for showcasing its rich cultural heritage.

Business20 (B20) is one of the most prominent groups amongst various engagement groups with companies and business forums, representing the global business community.It aims to deliver concrete actionable policy recommendations on priorities by each rotating presidency to spur economic growth and development.

Now, what are the prospects of Sikkim if we look at the objectives of the B20 Conference under India’s G20 presidency is concerned:
Organic farming-
Sikkim is the first state in the world to be certified as 100% organic. Organic farming is a type of agricultural production that stresses the use of natural inputs and practices to produce crops and livestock free of synthetic fertilizers, pesticides, and genetically modified organisms (GMOs). It focuses on the cultivation and maintenance of healthy soils, biodiversity, and ecosystems.
Sikkim achieved the incredible milestone of becoming a 100% organic state by converting 75,000 hectares of farmland into certified organic land. It also expanded the scope of cultivation in Sikkim with more than 22 lakh hectares of production recorded.
Increasing health concerns due to the growing number of chemical poisoning cases globally is acting as a driver in the organic food market. India is bestowed with lot of potential to produce all varieties of organic products due to its various agro climatic conditions. In several parts of the country, the inherited tradition of organic farming is an added advantage. This holds promise for the organic producers to tap the market which is growing steadily in the domestic and export sector. As per the available statistics, India’s rank 5th in terms of World’s Organic Agricultural land and 1st in terms of total number of producers as per 2021 data. Sikkim is recognised as the “world’s first organic state” by the World Book of Records London.

Pharmaceuticals-
India has played a critical role in the pharma sector during the COVID-19 pandemic. Being the third largest exporter of pharmaceutical products worldwide, India has established itself to be a thriving market for the pharmaceutical industry.
In Sikkim, tax incentives, low manufacturing and labor costs, and a pollution-free environment have proved to be the key factors attracting pharma companies.

Tourism and Hospitality-
The tourism and hospitality sector in Sikkim is a market full of opportunities. Local cuisine, handicrafts, and cultural experiences have been the top draws for tourists. Moreover, the union government’s efforts to improve the local infrastructure and create more connectivity domestically and internationally in the region will boost the sector. The Union Budget 2022-23’s new scheme called the Prime Minister’s Development Initiative for Northeast Region (PM-DevINE) with a budget allocation of Rs 6600 crore from 2022-23 to 2025-26 objective is to accelerate the development of infrastructure in the North East region and stimulate economic growth in the area.
The conference would facilitate B2B and B2G dialogue in the key sectors of Sikkim. As a part of India’s G20 presidency, the B20 engagement group conference in Sikkim would explore partnerships among business communities from G20 member countries towards developing a common agenda for the development of critical sectors of the economy as a growth driver.

Source-PIB

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