Priorities of B20 India – Copy

The priorities identified by India on the world stage are some of the most important aspects facing the world today. As one of the largest economies in the world, India has significantly influenced areas such as trade and investment, climate change mitigation and digitisation. We, at HSBC firmly believe in opening up a world of opportunities through the larger integration of economies and global value chains. We’re also committed to supporting and financing the transition to a secure net zero future, which is being done through both financing and investing activities to support such projects in addition to a wide gamut of corporate sustainability efforts aligned to India’s Sustainable Development Goals.

As part of India’s G20 presidency, businesses in India have a unique opportunity to share their perspectives and drive global economic growth and stability. We look forward to playing our part as an economic steward as the B20, T20 and Startup20@ G20 India dialogue takes shape over the course of the presidency.

I would also like to take this opportunity to enlist key areas of focus by HSBC, aligned to support the G20 agenda/Sherpa track:

  1. Trade and Investment

The current level of optimism in India has never been witnessed before and as a committed partner to drive India’s economic growth, we continue to leverage our international connectivity to promote FDI in India including Green FDI. We’re also supporting sectors under the Atmanirbhar Bharat initiative, for India to support its endeavor to be the global factory for the world.

  • Environmental and Sustainability

HSBC India’s sustainability strategy aims to foster sustainable economic growth, focussing on community investment (CSR interventions), sustainable operations, sustainable finance and sustainability risk. The strategy is delivered through a combination of research, programmes, collaboration and partnerships. At HSBC India we have prioritised few areas as key tenants of our community development programmes. These include skill development, encouraging entrepreneurship and fostering environmental sustainability through our engagement with partners in support of creating lasting impact on the lives of people. We believe it requires a concerted effort between business, governments, civil society organisations and other stakeholders to create design and implement programmes to create evidence for advocacy. Initiatives under our Climate Solutions Partnership focus on energy transition projects across health care and dairy cold chain sector in addition to promoting productive use by of renewable energy by communities. As part of the nature-based solutions initiatives, we are working to restore wetlands and mangrove ecosystem in addition to landscape restoration projects that look at conservation of environment, while enhancing livelihood opportunities for the communities.

  • Energy Transition-

We continue to support transitions to net zero and community development through financing and investments. We are globally committed to investment between USD750Bn-USD1Tn enabling sustained energy transitions.

  •  Digital Economy- GPS and bank level summary of our key initiatives including democratization of flows

Our Global Payments Solutions gives businesses greater control over their cash and collections and helps them to manage their liquidity efficiently. Our digital platforms enable customers to make seamless payments between countries and currencies. We’re the largest foreign bank in India – by both Advances and Deposits and manage one of the largest e-Commerce supply chain finance programmes. We also have a scaled platform and handle around 7% of India’s Exports and Imports as well as FDI, 9% of Traded FX and 15% of foreign investor custody assets. Our leadership in e-commerce is reflected by the fact that we manage large volume payments for the country’s leading e-commerce players as well as app-based cab platforms. A leading bank for new economy and startup segment, we bank around 1200 startups including 45% of India’s top 100 unicorns. Furthermore, we have a dedicated USD 250 Mn lending pool for tech-led startups in India.

This article was contributed by Mr Hitendra Dave, GM and CEO, HSBC India.

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