The fourth Business 20 or B20 summit is set to be held in Kohima from 4-6 April. This is the fourth B20 summit since India took over the G20 presidency on December 1, 2022.
According to a DIPR report, opportunities for Multilateral Business Partnerships in Agriculture, Food Processing, IT and Tourism are set to take center stage in the Kohima conference.
India is utilizing its G20 presidency to showcase the Northeast region of the country and its diverse cultures, captivating geography, and vibrant heritage. Therefore, by holding summits in the North-Eastern region, it plans to draw attention from around the world and expand the tourism industry which will result in more employment opportunities, connectivity, economic growth, and cultural exchange.
For India, the G20 is more than just a diplomatic event; it’s a very crucial responsibility for the country. Considering how the world is experiencing from geo-political crises to disruption in food and supply chains, G20 is a fantastic opportunity to highlight India’s treasure of rich cultural legacy including the northeast which is still another uncharted territory.
The B20 program is to showcase the potential that the Northeast region can offer to global and local investors and also to highlight opportunities for multilateral business partnerships in industry sectors where the Northeastern states have core strengths.
According to a DIPR report, the B20 summit in Nagaland would focus on marketing its potential in agriculture as well as the tourism industry.
In 2020, India’s organic food market stood at a value of USD 849.5 million. According to Expert Market Research, in 2021 – 2026, the trend in the organic food market is expected to grow at a compound annual growth rate (CAGR) of about 20.5% to reach about USD 2601 million by 2026.
Now, with Nagaland not only rich in biodiversity but also because farmers have been practicing a traditional system of agriculture without the use of external inputs since its inception and has adopted to the age-old traditional cultivation system called shifting cultivation, Nagaland can become a key contributor to organic food market, thereby, boosting the state economy.