Commerce Minister Suresh Prabhu urged G-20 nations to put more efforts towards transfer of technology, research, investment in agricultural business, for greater value addition for MSMEs.

Participating in a breakfast meeting uner G20 TMM, Prabhu urged G-20 to support transfer of technology, research, promote agri services and responsible investment in agri businesses with an aim to encouraging greater value addition for MSMEs.

He also asked the G20 nations to change the narrative on trade by focusing on the potential of Services for enhancing the global trade, keeping in view that Services contribute more than 50% to the World GDP.

On the New Industrial Revolution, Ministers acknowledged the central role of digital technologies.

He  drew attention to the need for minimising technology disruptions and promoting distributive gains for the collective good of all countries and, in this regard, he  urged G-20 to work towards closing gaps in the digital divide within and across nations through capacity building measures, technology adaptation and meaningful investments to give primacy to protection and promotion of domestic entrepreneurs with an aim to job creation for millions of youth.

He underlined the need for a holistic approach to the NIR, one that is inclusive and development oriented.

Suresh Prabhu held 24 bilateral meetings with his counterpart Ministers and Heads of delegation on the sidelines of the G-20 TMM with whom he exchanged views on ways to reform WTO and strengthen bilateral relations.

He led the Indian delegation for the G-20 Trade Ministers Meeting (TMM) held at Mar del Plata, Argentina on 14 September.