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B20 Summit: PM Modi Calls For Global Framework On Cryptocurrencies And AI The PM also said India is preparing a framework for Green Credit for businesses to encourage planet-positive actions

By Teena Jose

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Prime Minister Narendra Modi on Sunday, while addressing the B20 Summit at Delhi, said that a global framework for cryptocurrencies and ethical use of artificial intelligence (AI) is the need of the hour.

During the event, the Prime Minister also addressed global issues such as climate change, energy sector crisis, food supply chain imbalance, water security, cyber security, which can be solved with mutual cooperation.

Signifying the ongoing discussions about artificial intelligence, Modi said, "Today, the world is showing a lot of excitement regarding AI. But amidst the excitement there are also some ethical considerations. Such issues have to be resolved together. Global business communities and governments will have to work together to ensure that Ethical AI expands."

Furthermore, the PM also said India is preparing a framework for Green Credit for businesses to encourage planet-positive actions.

Reportedly, PM also advised businesses to take a consumer-centric approach and said a profitable market can only be sustained when there is a balance between the interests of the producers and those of the consumers.

"Businesses have successfully gone beyond borders and boundaries. Now is the time to take businesses beyond just the bottomline. This can only be done by focusing on supply chain resilience and sustainability," he mentioned.

In her visit to the U.S., Finance Minister Nirmala Sitharaman had also stressed on the need for immediate action on cryptocurrency.

Teena Jose

News Desk Reporter with Entrepreneur India

Teena is a post graduate in financial journalism. She has an avid interest in content creation, digital media and fashion.

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