Finance
Prime Minister Shri Narendra Modi today addressed the Outreach Session on “Reviving a Balanced, Shared and Sustainable Economic Growth for All”, at the G7 Summit in Evian, France.
Appreciating the Summit’s focus on shared and sustainable growth, Prime Minister noted that, at a time when the world is impacted by uncertainties, the message on sustainable growth would be meaningfully received across the world. He stated that growth should not be just about GDP or trade numbers, but its real impact on inclusion and well-being of people. In this regard, he highlighted India’s inclusive growth story based on the principles of “Sabka Sath, Sabka Vikas, Sabka Vishwas, Sabka Prayas” [Together with all, Development for all, Trust of All, and effort of All].
Prime Minister noted that India’s mantra of inclusive growth also guided its international engagements, as duly reflected in its G 20 presidency with the motto of “One Earth, One Family, One Future”. He further added that a similar approach guided the conceptualization of the India Middle East Europe Economic Corridor [IMEC] to strengthen supply chains, create investment and employment opportunities, and foster innovation. Highlighting that crises and conflicts have had a debilitating impact on the Global South, he called for international solidarity to ameliorate their burdens. He suggested that international financial institutions should develop support mechanisms which can impart economic resilience to developing countries. He also called for considering connectivity projects linking Africa, Latin America and the Pacific Island countries on the lines of IMEC. To realize this vision, Prime Minister suggested the creation of an International Mobilization Partnership for Accelerating Connectivity and Trade or IMPACT, in which G7’s capital, India’s talent and the Global South’s ownership could be combined.
Prime Minister reaffirmed India’s commitment to a stable, trusted and prosperous world economy, noting that its belief in integration, partnership and shared progress had inspired it to pursue trade agreements with G7 members and several other countries.
Source: PIB
