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Acroynym “RAISE” for Business

Facts for Prelims (FFP)

 

Source: PIB

Prime Minister Narendra Modi addressed the B20 Summit India 2023, highlighting various aspects related to business, sustainability, and global cooperation.

  • The B20 Summit India is a platform for policymakers, business leaders, and experts to discuss policy recommendations for G20. Its theme is “RAISE”.
TermExplanation
R – ResponsibleEmphasizes the need for businesses to act responsibly and consider their impact on society and the environment.
A – AcceleratedRefers to the need for businesses to drive economic growth and development through rapid progress and innovation.
I – InnovativeHighlights the importance of innovation in business strategies to adapt to changing global dynamics.
S – SustainableAdvocates for businesses to adopt practices that ensure long-term sustainability for both the economy and the planet.
E – EquitableFocuses on promoting fairness and inclusiveness in business practices, ensuring benefits are shared widely.

 

Other Key points:

  • The PM also proposed the idea of an “International Consumer Care Day” to strengthen trust between businesses and consumers.
  • The Prime Minister emphasized India’s role in creating a trusted global supply chain and promoting sustainability. He called for businesses to go beyond profit and focus on supply chain resilience and sustainability.