“It is not India’s decade; it is India’s century!”

The decade has started with India taking the G20 presidency.


G20 summit is where 19 countries and EU together are part of it for economic growth and averting financial crisis.

It was formed after 2008 crisis. The main objectives to form this group of 20 was:

  • Sustainable growth Initiatives
  • Building sturdy financial architecture
  • Financial stability in India
  • Economic growth in India
  • Financial structure

Management of G20

TROIKA: The Past, Present and Future presidency work together in sync for making it happen. There is no permanent team but this is how it operates.

There is Sherpa and Finance Sherpa who are at the helm of organising and discussing the agenda in the meets.

Year 2023: G20- India at Helm

Let us mark the date on calendar for the eventful days in the month of September 2023 where the world will come together under one roof as one family.

This year the summit is happening in New Delhi 9th-10th Sep 2023.

Theme: One Earth. One Family, One Future. 

“Vasudhaiva Kutumbakam”

With the agenda of keeping the larger picture in mind, the key points of discussions and deliberations will be

  • Of looming recession
  • Post pandemic revival
  • Russia Ukraine War
  • Climate change

The Sherpa Meeting took place in December 2022 at Udaipur.

Sherpa Amitabh Kant had started on a strong note.

He promised that the Finance Track and Engagement Groups will also be actively engaging for tackling the issues surfacing in fiancé and economic growth of the world.

G20 Presidency- How will this benefit India?

Tech Progress: There are digital success stories which can be highlighted and emphasised to the world about the digital progress in India which can truly unite the world going forward.

Bridge Builder and Healer: The tension surrounding the ongoing war where India is in a delicate state in the dilemma to take a stand between the war-torn Russia and Ukraine. This would be an opportunity to heal any wounds and build the bridge of trust with compassion. To give the guarantee and assurance of how India has greater good of all the nations at heart.

Digital Unity: the progress made on UPI, Fast tags, Adhar card linkages is noteworthy.

Grassroot Level Challenges in India 

It is not India’s decade; it is India’s century of leadership! 

That is India will be LEADING for the next 100 years! 

There is not an iota of doubt in these maxims.

However, the bigger question is how will India become the leader of century?

The Indian entrepreneur challenges and roadblocks to this scintillating destination are galore.

As per Zillionite, India needs a four forked strategy to LEAD the century.

  1. Ease of Doing Business
  2. Financial Architecture
  3. Global Vision
  4. Battery of Lawyers

1.Ease of Doing Business:

For global tie ups and partnerships, ease of doing business in India is important.

Though India has progressed by leaps and bounds in ease of doing business rankings in terms of ease of doing business, it has a significant distance as some pertinent key characteristics are still languishing for the business to go sleek and suave.

The World Economic Forum had a protocol to publish rankings on ease of doing business every year. The ranking system has been discontinued from year 2022 citing misinformation and unfair practices in play to arrive at the conclusive rankings.

Source: World Economic Forum

Picture Published in ET

The real challenge is enforcing contracts as the legal support for businesses growth is without teeth to enforce contracts. The legal enforcement must be really entrenched to conduct business growth strategies in right and holistic manner.

The minorities are also not protected enough due to the muscle game of the stronger entities and presence of deep pocket players in the market who tilt the dynamics from being a level playing field for all.

2. Financial Architecture:

Digitally, India is way ahead than others and is continuously galloping in the right direction. 

There are still bigger challenges to be addressed in the finance arena. A common prevalent challenge identified needs exigent measures. The elephant in the room is bad debts in business.

The problem of bad debts is entrenched across almost all sectors in India. The varied types of bad debts eruption are:

  • Stressed Assets – Bad Debts!
  • NPA in banks.
  • Loan Shark Deals
  • Consumer Bad Debt: Debt of Credit Card, Auto Loans, and debt for personal expenses.

Every year banks write off a huge number of bad debts and there are ARCs to resolve these murky issues which take its own time and there is no guarantee of recovery. The ratio of recovery even by ARCs depends from case to case.

In almost all businesses in India, the gestation of credit cycles is elongated.

Additionally, there is 20% to sometimes 40% of bad debts being written off across varied industries. Even the players who can pay the credit decide to play the dirty game to take advantage of the weaker vendor or citing industry norms.                           

These showcases ethical indecencies which is a perennial problem. This ethical dilly dallies not only percolates at the domestic level but also affects international business trades.

If the reforms and measures for bad debts are not put in place then the Financial Architecture Challenges in India will be akin to walking in a minefield! This will shrink the opportunities for good domestic and international businesses. A sturdy financial architecture will steer India to LEAD globally.

3. Shared Vision of India:

The scintillating vision of India is to “Grow Global.” This Vision needs a lot of elements to fall in place and stick like magnet to show its reverberating impact with sustainability at core.

It must deal with other countries comprehensively, competitively, and collaboratively to lead the century.

To ensure that the set vision sees the light of reality, a lot of ground work must be undertaken by the government across industries at multi-lateral levels. 

The aim of India should be that each good company from varied countries should be able to do more business in India with unwavering enthusiasm. Security, assurance, principle safe, easy recovery of money factors should be well taken care of.

India in terms of a financial stability must LEAD by example.

This also needs law force and fluidity of legalities to support this vision. Both must work hand in hand to ensure that business growth in India with sturdy financial architecture is supported by swift legal practices.

The game changer in achieving India’s global vision is to have roots entrenched in Sturdy Laws.

4. Battery of Lawyers and World of Opportunities

That the world is a global village is an understatement. However, the legal methodologies vary from country to country. The legalities right from starting the business to winding up the firm are multi-fold. While conducting business as usual the documentation of contracts, agreements, exports, imports, due diligence is mandatory and time consuming. Also, understanding and drafting of deals in international trades and businesses is done by taking into consideration legalities of two different geographies will play a massive role more than ever.

We need battery of lawyers in India for supporting and formulating a robust financial architecture. Legal sharks can help to stand the storm of business cycles and industrial challenges.

Lawyers are also entrepreneurs. 

Each lawyer who is having its own practise is also running a business venture. They are on the tough road of entrepreneurship like many in different sectors and domains.

The lawyers also face bad debts due to non-payment of dues from the clients. 

These lawyers understand the problems first hand as the nature of business is the same irrespective of the industry.

If there are fast track courts in India which aid and help to access with ease of legalities in terms of cost, availability of legal experts and agility in terms of decisive outcome, this will be a turnaround point for India and the world will sit and notice.

The current scenario has financial headwinds to step into legal fights. To file a case against bad debts in Indian Business, the legal fees start from minimum 10,000/- INR which can easily stagger up to lakhs. The legal documentation is also exhausting and cumbersome to say the least.

With strong Indian Legal Enviornment, businesses will be conducted in more ethical manner proactively to avoid the iron rod.

The players will see immense benefit and this will make each element doing business vie for sustainability in a natural, lucid, and organic fashion.

Strong laws will make people more ethical which will become a second nature of business owners.

Ethical business breed is where people will die to pay premium, will be queuing up to associate.

Strong Ethics -Strong laws is a dual sword which will work beautifully and cut sharply for those who are off the track in terms of debt repayment.

Even unethical people want to do business with ethical people as they too have a fear of being cheated! A classic case of snake biting its own tail.

Case Study of Zillionite Client with Global Vision

Mahesh Kamble started his entrepreneurial journey in India when he was just out of college. Back in college, his professor had talked comprehensively about export import business as lucrative with ease of entry in the business.

Nine people from his class after graduation started their own firm in export and import business getting all the documents in place.

Mahesh found the easiest business if not ease of business. Despite putting real efforts, he could not get any clients despite several attempts.

He along with multiple of his classmates who had started export import business could not solve the challenge of getting business in monetary terms for almost a year.

After almost a year pursuing his stint, Mahesh connected with Zillionite.

He enrolled in our flagship LDP (Leadership Development Program) and was over the moon for bagging his first ever client. There was no looking back for Mahesh from there on.

The solutions suggested by Zillionite were incorporated by EXMI and it had a very positive impact. Zillionite helped EXMI create a strong Vision and Mission for the company. 

He was creating waves with global clients and vendor partners. Keeping India at heart creating benefits with world class quality imports and exports for each.

Zillionite: With the turnaround success story of Mahesh, we felt victorious as our aim to achieve was fulfilled. The aim is to build 0 to 1 for entrepreneurs in their entrepreneurship journey.

Zillionite is a leadership development firm for entrepreneurs of today to become the future leaders of tomorrow.

Zillionite is about empowering and creating an impact.

  • Ethical
  • Excellence
  • Eco System
  • Educative

Global India or India Global?

Shared Vision: Aim for 1% of bad debts to do business in India. This aligns well with the global Business vision of India to do the same.

Also, it would be great to see India host 2036 World Cup, Olympics and much more…with the mindset and vision all set and aligned with LEADING for the century!

Let this be India’s Leading century witnessing India to LEAD from the front, from the back and even from the middle of the pack!




Note: All the views are expressed by Shweta Vora, founder of Zillionite.





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