Global Business leaders re-emphasized Innovation as one of the most critical elements for growth, employment and economic recovery and pointed out Information and Communication Technologies (ICT) and Internet are the prime movers of innovation. Global Corporate Leaders mentioned that making decisions among stakeholders (governments and the private sector playing in partnership) is the best way to sustain and expand ICT and Internet impact.
The B-20 Working Group on ICT & Innovation, led by Mr S Gopalakrishnan, Vice-President, Confederation of Indian Industry (CII)and Executive Co-Chairman of Infosys, has recommended a comprehensive action plan in achieving an Innovation driven global economy.
Mr. Gopalakrisnan mentioned "Innovation is critical for growth, employment and economic recovery. ICT and the internet are key enablers of this innovation and can help connect the 7 billion people of the world and level the playing field."
The most important recommendation has been to fuel the next wave of economic growth, innovation, productivity and jobs by encouraging authorities to create stable and predictable regulatory frameworks to promote competition and investments from the private sector, complemented by public initiatives in sectors such as fixed and mobile broadband, ultra-broadband, content, applications and services. CII has been stressing this for long in India and has come out with innovative PPP business models in this area.
The group also recommended the active promotion of Internet usage for all in a sustainable manner to create economically and socially valuable ubiquitous new products and services.
Another key recommendation made by the group is to promote harmonization in the field of privacy protection to guarantee a level playing field among players and to create the needed trust. CII has been working with the Indian Government in many areas of IPR to create robust IP ecosystem.
"The internet can enable small businesses to deliver products and services anywhere in the world and can allow SMEs to compete with large incumbents, on an equal footing. It is important to lower barriers of entry for entrepreneurs by harmonizing regulations across geographies" Mr. Gopalakrishnan commented during the deliberations.
Internet governance arrangements by providing for the open, transparent and adequate participation of stakeholders and fostering the dialogue driven by industries, while avoiding creating a new inefficient bureaucracy has been the another key recommendation, the group has made.
Mr. Gopalakrishnan emphasized "Both private industry players and governments need to recognize that we live in an increasingly interconnected world. We must find ways to harness the power that ICT and internet can bring in serving the growing needs of the 7billion people on this planet in a sustainable and responsible manner."