B20 Summit 2023: PM Modi Calls For Global Framework On Cryptocurrencies

Prime Minister Narendra Modi on August 27 pushed for a global framework on cryptocurrencies and an ethical usage of artificial intelligence (AI).

Addressing the B20 Summit India 2023, organised by CII here, the prime minister also called for observing 'International Consumer Care Day' once a year and switch over to 'green credit' from the current practice of carbon credit trading, according to a PTI report.
Modi also said India has become the face of digital revolution in the era of Industry 4.0, and also holds an important place in building an efficient and trusted global supply chain, added the PTI report.

"There is a challenge associated with cryptocurrencies. In this matter maximum integrated approach is needed. I think there is a need for preparing a global framework which should take care of interests of all stakeholders," the prime minister said.

Modi further said a similar approach is needed regarding AI, stated the PTI report.

PM Modi urged global businesses to consider observing 'International Consumer Care Day' once a year as he emphasized on more focus for consumer care.

Edul Patel, CEO & Co-founder Mudrex said, "The Prime Minister's push for a unified stance on cryptocurrencies is a forward-looking step. A global comprehensive framework for cryptocurrencies can highlight both the technology's increasing potential and challenges. Balancing the interests of diverse stakeholders is crucial to harnessing the benefits of cryptocurrencies while mitigating risks effectively. As we approach the G20 Summit under India's presidency, it is to be seen how the member nations will collaborate to shape the future of this dynamic landscape."

"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," PM Modi added.