B20 Summit 2023: PM Modi pushes for global framework for cryptocurrency says, ‘Need integrated approach to deal…’

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Narendra Modi on 27 August said that an integrated approach to deal with issues related to cryptocurrencies is needed. While speaking at the B20 summit, PM Modi asked business leaders to brainstorm on issues like cryptocurrency and Artificial Intelligence. He said a global framework is required for cryptocurrency.

Besides, the PM said that technology disruption is happening at a rapid speed and there is a need to focus on “ethical AI". “We need integrated approach to deal with issues related to cryptocurrencies", the Prime Minister said. During his address at the summit organised by CII, 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.

He 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. "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. Making a strong pitch for focus on 'consumer care', he asked global businesses to consider observing 'International Consumer Care Day' once a year.

"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 added.