Header Image

SCO must create trusted and resilient supply chains to foster economic recovery: PM Modi

SCO must create trusted and resilient supply chains to foster economic recovery: PM Modi

Last Updated Sep - 16 - 2022, 01:55 AM | Source : HT

The prime minister said the SCO Summit was being held against the backdrop of a challenging regional and global situation, and the whole world was grappling wit
SCO must create resilient supply chains
SCO must create resilient supply chains

SCO Summit: The Covid-19 pandemic and the Ukraine crisis have created impediments for global supply chains and the Shanghai Cooperation Organisation (SCO) should create trusted and resilient supply chains to foster economic recovery, Prime Minister Narendra Modi said on Friday. Addressing a session of the SCO Summit in Samarkand, Modi said the members of the grouping should give each other transit rights to help build better connectivity across the region.

READ | India to stop financial aid to Sri Lanka after IMF Bailout

Modi was speaking at an extended session that was attended by the leaders of the eight SCO member states and the leaders of observer states such as Turkey and other nations invited by Uzbekistan, the host of the summit. This was the second session following an earlier gathering restricted to the leaders of the SCO member states.

The prime minister said the SCO Summit was being held against the backdrop of a challenging regional and global situation, and the whole world was grappling with the challenge of economic recovery after the pandemic. The SCO’s role is very important in such circumstances as its member states account for almost 30% of the global GDP and 40% of the world’s population.

“India supports increased cooperation and mutual trust between the SCO member states,” Modi said, speaking in Hindi.

“The pandemic and the Ukraine crisis have created several impediments for global supply chains and the whole world is facing an unprecedented food and energy crisis. In our region, the SCO should try to create trusted, resilient and diversified supply chains. For this, we need better connectivity and it is also important that all of us give transit rights to each other,” he said.

READ | You are a Shudra, prostitute’s son till you remain a Hindu: DMK leader’s remark sparks controversy

India is making progress in its efforts to become a manufacturing hub, and the country’s economy is expected to grow by 7.5% this year, which will be the highest among the world’s biggest economies, Modi said.

The people-centric governance model of India makes appropriate use of technology and the government backs innovation in every sector. There are more than 70,000 start-ups in India, including more than 100 unicorns, and the country’s expertise in this field can be used to help other SCO members, he said.

The SCO can think of creating new special working group on start-ups and innovation whereby India can share its expertise, he said.

Referring to the big challenge of ensuring food security for people around the world, Modi said a possible solution could be efforts to encourage the cultivation and consumption of millets, which he described as a “superfood” that has been grown in the SCO states and many other parts of world for long.

He said the UN will observe the international year of millets in 2023, and the SCO should discuss holding a “millet food festival”.

READ | India to host G20 Presidency in September 2023, over 200 meetings to be held

Pointing to India’s emergence as a centre for medical and wellness tourism, Modi said the World Health Organization (WHO) had established a global centre for traditional medicines in Gujarat this year. This is the first and only such global centre under the WHO and the SCO should increase cooperation on traditional medicines, he said.

India will take the initiative for setting up a working group on traditional medicines, he added.

Share :

Trending this week

Rahul Gandhi Alleges Modi Halted Anti-Terror

Aug - 27 - 2025

During an election rally in Bihar recently, Congress leader Rahul Gandhi claimed that Prime Minister Narendra Modi had stopped India's action on Pa... Read More

Delhi Metro Fares Increased

Aug - 27 - 2025

Starting August 25, Delhi’s lifeline the Metro became a bit pricier. For the first time since 2017, fares have increased modestly: between â‚... Read More

Opposition Alleges 5,000+ UP Voters

Aug - 27 - 2025

In a politically charged turn ahead of the Bihar Assembly elections, the INDIA bloc has raised serious concerns claiming that over 5,000 residents ... Read More

Wife Donates Liver to Husband

Aug - 26 - 2025

In a devastating twist, a selfless act of love turned tragic in Pune. On August 15, Kamini Koamkar (42) donated part of her liver to save her husba... Read More

Supreme Court Orders SIT Probe

Aug - 26 - 2025

In a move that’s reverberating beyond courtrooms, India’s Supreme Court has ordered a Special Investigation Team (SIT) to probe Vantara... Read More

Surat Diamond Bourse Echoes

Aug - 26 - 2025

Walk through the sprawling corridors of the Surat Diamond Bourse once envisioned as a sparkling testament to India’s gem ambition and you'll ... Read More