According to India’s G20 Sherpa Amitabh Kant, with close to 200 sessions already held in 57 Indian cities, discussions under the G20 Indian Presidency saw the biggest geographical range ever. According to Kant, “We have been able to bring our delegates to every state and union territory of India, boosting local economies in these places as well as providing delegates with a true experience of India’s diversity.”
The G20 Leaders’ Summit will take place in New Delhi the following month. The G20 countries, which represent 85% of the global GDP, include US President Joe Biden, Chinese President Xi Jinping, and Russian President Vladimir Putin.
According to Kant, the worldwide tourist market is estimated to be worth $5 trillion, with India currently accounting for a meager 1.5% of that total. Similar to this, India now accounts for a minor share of the $650 billion worldwide MICE (Meetings Incentives Conventions and Exhibitions) sector.
The G20 Presidency offered a great chance to take a bigger piece of these markets. Before the second Sherpas Meeting, for instance, the state government of Kerala constructed a magnificent meeting location in Kumarakom. Building MICE infrastructure is a tremendous investment that may be used in the future, he claimed.
“Our hospitality industry has registered a 20% uptick in premium lodging rates in key business hubs since the close of 2022. This mirrors the economic waves triggered by the G20 helm,” Kant said.
All of the upscale hotels were reserved weeks in advance for the latest G20 ministerial meetings, which included the Finance Ministers and Central Bank Governors Meeting in Gandhinagar in July. Similar to this, all of Delhi’s upscale hotels are already fully booked for the G20 Leaders’ Summit, driving up accommodation rates.
The country’s urban infrastructure, particularly airport connections in Tier 2 and Tier 3 cities, has improved as a result of numerous G20 track meetings. This is the outcome of Prime Minister Narendra Modi’s aim to reach the Presidency from all parts of India, Kant remarked. Additionally, he added, the G20 meetings’ promotion of regional handicraft and handloom industries is increasing the earnings of regional artisans and craftsmen and showcasing their creations to a wider audience.
“India’s Presidency is also unlike any witnessed before. It has been a People’s Presidency, driven by the fervour of Indian citizens and their active engagement with G20-related events across the length and breadth of the nation,” Kant said.
The G20 has become part of every household’s vocabulary in India, transcending all languages. “The credit for turning a high-level closed-door diplomatic event into a year-long national festival, including common citizens in its foray and remaining true to our democratic ideals, lies solely with PM Modi,” he added.
