India’s Finance Sector Says G20 Presidency Will Pave Way For Equitable Economic Future
India’s G20 presidency gave not just the country an opportunity to interact with other countries on several issues and look for best practices and solutions, but also showcase the potential of India to the world. As the country gears up for the big summit in the national capital this weekend, the financial sector shares how the G20 presidency became a boon for India’s growth story.
“We believe that the upcoming G20 Summit holds immense promise for global economic stability and prosperity. Our expectations are rooted in the conviction that this gathering of world leaders can foster collaboration and innovation to address pressing challenges in priority areas i.e. inclusive economic growth, sustainable development, and financial resilience,” said Anuj Arora, Co-founder & COO SahiBandhu. He added that by fostering an environment conducive to financial inclusion and responsible lending practices, the G20 Summit can pave the way for a brighter and more equitable economic future for all, especially for SME, Banking, Aggregator space and NBFCs.
Aryaman Vir, CEO of WiseX said that India's G20 presidency is more than a ceremonial role; it is a strategic lever for shaping both global policy and accelerating the economy. “Through our leadership in areas like infrastructure, fintech, and sustainability, we're doing more than just securing international support and channelling global expertise and financial resources toward our national priorities. Our strides in fintech infrastructure development, exemplified by systems like UPI, are not only boosting our economy but have also garnered global recognition, prompting the world to bring these innovations to the forefront.”
Vir further added, “From harnessing AI and digital public infrastructure to pioneering green initiatives, India's G20 presidency transforms us from mere participants to influential architects of an inclusive, technology-driven, and sustainable global economy."
Sooraj Singh Gurjar, founder and MD, Get Together Finance (GTF) opined that the G20 summit is led by 20 financial leaders from the world’s strongest economies and that makes it even more significant. “The aim of the summit is to discuss trade, health, and climate-related issues around the globe. When the minds behind the most successful economies come together, something great is bound to come. Hence, great investment and trade opportunities are probable to rise in India with the help of the G20 summit.”
Gurjar added, “In the past few years, India’s economy has seen massive growth. With the global economic events being held in India, people and businesses’ trust in the Indian capital market will grow. The global trade tension has risen in the past few years due to various factors. But, with India being the host this time, new FDI policies could be framed. This will directly impact the economy of the country, which will help in the growth of the Indian stock market. The G20 summit in India will promote more open and inclusive trading; businesses in India will get a new boost with this approach. A Plethora of new opportunities will arise with fewer trade restrictions, resulting in the development of the businesses and the country. When the businesses of the country grow, so do their stock prices.”
Prateek Toshniwal, Angel Investor and Professional Financial Advisor said that the G20 summit is definitely a major event that can affect the global economy and, in turn, the Indian stock market significantly. “The discussions at the summit often have far-reaching implications that jolt currency value, interest rates, and even global trade policies, triggering a ripple effect in the economy and the market. This is why many investors observe the summit to gauge the impact and avoid market volatility.”
Toshniwal added that successful summits have historically garnered positive reactions from the stock market and benefitted investors. “In the last couple of years, India has rolled out a series of economic reforms to attract foreign investments. So, I believe the summit presents a huge opportunity to flaunt the outcomes to showcase India as an improved economy and a better avenue for international investors. Plus, direct engagement with global leaders could bring huge investments that will boost trade and investment proposals and create jobs. The best investors can do now is monitor the outcomes of the G20 summit to align their responses as per market temperament and avoid making hasty decisions at all costs.”
Mithun Vijay Kumar, Analyst and Author said that the impact of the G20 on Indian stock markets can be both positive and negative. “On the positive side, the G20 can help to boost investor confidence in India's economy by providing a platform for the government to showcase its economic reforms and growth potential. This can lead to increased foreign investment, which can support the stock market.” He balanced his comments with the negatives too. “On the negative side, the G20 can also lead to volatility in the stock market if there are any disagreements or concerns among the member countries. This is because the G20 is a forum for discussing sensitive economic issues, and any disagreements or concerns can have a ripple effect on global markets.”
Maya Sharan Singh, Director, Lares Algotech said that the Group of Twenty (G20), known as the premier forum for international economic cooperation, plays a pivotal role in shaping the global economic landscape. “The G20 Summit brings together leaders from the world's largest economies to discuss fiscal policies, trade agreements, and monetary strategies. It is known for its influence in fostering international trade and cooperation, which tends to boost investor confidence and propel stock prices upwards. As we approach this momentous occasion, we are closely monitoring developments and analysing potential market trends that may emerge as a result of the summit. Indian investors must closely monitor G20 deliberations, as decisions made at this global forum can profoundly affect the nation's economic prospects and stock market performance.”
Jitendra Dhaka, Founder,BankSathi commented on how the banking sector especially benefited from what the G20 has said about global macroeconomic issues and what it has suggested. “Another G20 priority is sustainable finance, which helps India's green and responsible banking by taking environmental and social issues into account when making financial decisions. The COVID-19 pandemic has pushed the use of digital financial services in rural India. which is in line with the goals of the G20 for financial inclusion.”
Dhaka further added, “India's agent banking and mobile financial services, especially in poor areas, show the promise of new ways to offer financial services. These events back up the creative financial inclusion principles of the G20, which focus on finding a balance between innovation, financial stability, and customer safety through flexible regulatory frameworks. The G20's discussions and ideas have had an effect on India's banking system. By joining these global initiatives, India can expand financial inclusion, support sustainable finance, and strengthen its financial architecture, especially in rural areas. This will give its people a brighter and more stable financial future.”
Ravi Singhal, CEO, GCL Broking summed it up saying, “As we can see recently our foreign minister has given an interview on G20 in which he has cleared that G20 will focus on growth and participation of India can be increased in it. So the sector can get benefits from it are Infra stocks, Export oriented stocks, Consumption and Green energy.”
Manan Dixit, Founder FidyPay said that RBI has already declared that visitors from G20 countries arriving at specific airports may use the well-known UPI to make payments in the nation. "The Unified Payments Interface (UPI) capability would thereafter be made available to travelers from all nations, according to a later proposal by the RBI. This has made UPI more accessible and increased the likelihood that Indian digital payment companies may collaborate in the future. A climate that is favorable to innovation has been established by the G20's focus on regulatory consistency and cooperation. Regulations that have been streamlined have made it easier for us to provide effective, user-friendly payment solutions to a larger audience. In addition to France, Nepal, Bhutan, Singapore, the United Arab Emirates, and Singapore, Sri Lanka is the newest country to use the Unified Payments Interface (UPI) payment system from India."
Rakesh Kumar, Founder Square Insurance said that particularly for insurtech businesses like ours that specialize in rural insurance, the G20, a gathering of the world's leading economies, has substantially altered India's financial industry. "This influence has given our industry, which IBEF projects generate USD 222 billion by 2026. The emphasis on financial inclusion has a considerable influence. G20 meetings have compelled Indian regulators to place a strong emphasis on offering insurance services to underprivileged and rural areas, creating a sizable market for companies like ours to grow in. Governmental initiatives, democratic components, a supportive regulatory framework, partnerships, product developments, and distribution networks are all contributing to the expansion of the insurance sector. It is now simpler for startups to traverse India's complicated insurance market thanks to the G20's focus on regulatory coherence."
