Commitment and investment in digital infrastructure must: Sunil Bharti Mittal

MUMBAI, INDIA: Sunil Bharti Mittal, Chairman, Bharti Enterprises and Vice Chairman, International Chamber of Commerce (ICC) has urged the B20 – G20 world leaders to commit and invest in developing digital infrastructure for brighter and prosperous future of citizens.

During a session at the on-going G20 Summit in Turkey, Mittal said the Internet can become the cornerstone of inclusive global economic growth.

Underlining the urgent need to bridge the global digital divide and provide easy and affordable access to ICT, he said, “If we want to help people feed, heal, educate and employ themselves, we need to ensure they can connect to the Internet. The challenge of connecting the world will require us to take many different and complementary actions in the coming years.”

He also highlighted the agenda outlined by the ICC B20 for the revival of the global business environment which calls for the ratification and implementation of the World Trade Organisation’s (WTO) Trade Facilitation Agreement (TFA), which India is yet to sign.

“New WTO research suggests that the TFA could boost global trade flows by an unprecedented $3.6 trillion, creating more than 20 million jobs in the process,” he said. “The impact of implementing the TFA would be greater than eliminating all remaining tariff barriers the world over-and could lead to an increase in SME exports by up to 80 percent in some economies as the Internet opens up new market opportunities. Although 51 countries have ratified the TFA to date, 108 are required to do so for the agreement to come into force. IBAC members are calling on the G20 economies to do all they can to speed effective implementation of this landmark agreement in the months ahead.”