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Grassroots investment needs G20 push

INDIA assumed the G20 presidency on December 1 for a year. G20 delegates will also get to savour the flavour of various cities of India. The first two meetings - that of Ambassadors of the G20 countries in the Andamans and the first Sherpas' meeting in Udaipur - apprised the delegates of the diversity and cultural impact of India. India's emphasis on Sustainable Development Goals, digital economy and furthering the goals of cohesive action by the G20 is based on the confidence that the Ukraine crisis will abate sooner than later. The author had earlier proposed a new fund led by India, Indonesia, Brazil and South Africa to take the lead in some ways to help the Global South attain its own goals. In a recent discussion among academics from India, Brazil and South Africa as well as with regional banks in Africa, the lack of a pipeline and dedicated funding for new ideas was considered a big lacuna. As the SDGs acquire greater momentum in attracting direct investment at the grassroots level, impact investment is also the subject of India's trilateral cooperation efforts in Africa, Latin America and Asia, both in the private sector and through the Ministry of External Affairs. Funds have been established where G7 countries such as the UK, France, Germany, Netherlands and Japan, besides the EU, have taken slow steps towards contribution, which are then managed by India's fund managers from the public and private sectors for impact investing in India, its neighbourhood and Africa. India's startup revolution, along with its digital economy efforts, which remain a G20 initiative, will obtain an impetus by focusing on impact investment through such a new fund

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