As the world eagerly awaits the G20 Summit in 2023, key stakeholders from various sectors are expressing their expectations and hopes for the outcomes of this significant global event. As global leaders come together to address these critical issues, we can anticipate significant developments that will impact these industries on a global scale. The world is watching as nations strive for transparency, cooperation, innovation, and inclusivity in their pursuit of a more secure, harmonized, and prosperous future.
Here, we gather insights from prominent voices in the fields of cryptocurrency regulation, education, and real estate to shed light on the critical issues at hand and the potential impact on these industries.
Sathvik Vishwanath, Co-Founder & CEO, Unocoin
The recent G7 meeting, which focuses on the regulation of Virtual Digital Assets (VDA) and alignment with Financial Stability Board standards, signals a pivotal moment in the global cryptocurrency landscape. Central Bank Digital Currencies (CBDCs) are taking center stage, with varying degrees of adoption among G20 countries. The discussions highlight the importance of transparency, trust and cross-border cooperation to ensure the success of the CBDC.
G7 countries such as the US, France, and the UK favor global cooperation in cryptocurrency regulation due to the lessons learned from the crypto market collapse in 2022. Despite differing regulatory approaches, these countries are uniting to protect consumers and fight illegal activities involving VDAs. India’s G20 leadership adds significance and promises new standards for the crypto industry.
In addition, G20 countries recognize the potential of emerging technologies such as artificial intelligence in VDA transactions, reflecting a broader trend towards innovation and building trust in the evolving digital environment. The world is watching as these nations work together to navigate the complexities of VDA regulation and ensure a secure, harmonized and user-friendly ecosystem.
Er. Koneru Satyanarayana, Chancellor, KL Deemed to be University
“Education industry worldwide has several expectations from the G20 Summit in 2023. The hope that member countries will commit to increased investments in education infrastructure, technology, and teacher training to address educational inequalities and prepare students for the challenges of the future. Additionally, there’s a strong desire for greater international collaboration and the sharing of best practices in education to drive innovation and improve educational quality globally. Given the growing importance of digital skills, there is an anticipation that the summit will prioritize digital literacy initiatives to ensure students are well-prepared for the digital age. Education stakeholders also seek commitments to align education policies with the United Nations Sustainable Development Goals which also focuses on quality education for all. Lastly, inclusivity and equity in education are expected to be emphasized, with a focus on addressing disparities in access, quality, and outcomes across various demographic groups”.
Sanjay Choudhary, Founder & CEO, Incuspaze
We expect the G20 Summit to have a big influence on India’s real estate market because of the increased worldwide attention it is anticipated to bring to the country’s economic prospects. The emergence of technology has profoundly altered not only the EdTech or health sector but also the corporate and real estate industries in emerging economies. An ecosystem that is powered by technology is replacing the conventional paradigm of traditional workplaces that are constrained by lengthy leases and inflexible infrastructure. Technology is the facilitator, and flexibility is the new currency. With development being the key area of discussion worldwide, we believe G20 Summit 2023 to be a prominent exposure to bring in a transformative era of technological advancements and economic growth. Emerging economies portray themselves as vibrant, forward-thinking centers for businesses and entrepreneurs as they adopt these technological innovations. We anticipate that this FDI infusion would foster a sharp increase in the country’s property values, making real estate leasing and investing attractive possibilities. India’s status as one of the world’s largest consumer markets due to its vast population is indeed a significant factor. At the G20 Summit, we could expect to emphasize a commitment to sustaining and fostering consumption-driven economic growth. India has the chance to exhibit its real estate potential, attract technological flexibility and FDI inflow to enhance and be established in the world arena, and draw even more investment than predicted for 2023-24 into its developing markets with the next G20 Summit in Delhi.
Cryptocurrency regulation takes center stage as nations seek transparency and cooperation while recognizing the importance of Central Bank Digital Currencies (CBDCs) and consumer protection. Education aims to bridge inequalities, boost digital literacy, and align policies with sustainable development goals. India’s real estate sector expects increased investment and technological advancements, positioning it as a vibrant hub for businesses. The G20 Summit promises a more secure, harmonized, and prosperous global future, with the world closely watching its transformative potential.