Finance
On September 21, 2024, Prime Minister Shri Narendra Modi participated in the sixth Quad Leaders’ Summit in Wilmington, Delaware, which was hosted by President of the United States, H.E. Mr. Joseph R. Biden, Jr. Prime Minister of Australia, H.E. Mr. Anthony Albanese, and Prime Minister of Japan, H.E. Mr. Fumio Kishida also attended.
In his address, the Prime Minister thanked President Biden for hosting the Summit and for his personal commitment to strengthening the Quad as a force for world good. The Prime Minister remarked that at a time when the globe is fraught with tensions and wars, the coming together of Quad partners who share a democratic ethos and values is critical for humanity. He highlighted that the group supported the international order based on the rule of law, respect for sovereignty and territorial integrity, and a commitment to peaceful dispute resolution. He went on to say that the Quad partners shared the goal of creating a free, open, inclusive, and wealthy Indo-Pacific region. He emphasized that the Quad was here to stay, assist, partner, and to complement the efforts of Indo-Pacific countries.
Reiterating that the Quad remains to be a “force for global good,” the Leaders made the following announcements to address the development priorities of the Indo-Pacific region and of the global community as a whole:
* “Quad Cancer Moonshot”, a groundbreaking partnership to save lives in the Indo-Pacific region by combating cervical cancer.
* “Maritime Initiative for Training in the Indo-Pacific” (MAITRI) to enable Indo-Pacific partners to maximize tools provided through IPMDA and other Quad initiatives.
* First-ever “Quad-at-Sea Ship Observer Mission” in 2025 to improve interoperability and advance maritime safety.
* “Quad Ports of the Future Partnership” which will harness the Quad’s collective expertise to support sustainable and resilient port infrastructure development across the Indo-Pacific.
* “Quad Principles for Development and Deployment of Digital Public Infrastructure” in the region and beyond.
* A “Semiconductor Supply Chains Contingency Network Memorandum of Cooperation” to enhance resilience of Quad’s semiconductor supply chains.
* Collective Quad effort to boost energy efficiency, including deployment and manufacturing of high-efficiency affordable cooling systems in the Indo-Pacific region.
* India’s establishment of a space-based web portal for Mauritius, to support the concept of open science for space-based monitoring of extreme weather events and climate impact.
* A new sub-category under the Quad STEM Fellowship, announced by India, for students of the Indo-Pacific region to pursue a 4-year bachelor’s level engineering programme at a Government of India funded technical institute.
The Leaders welcomed the next hosting of the Quad Leaders’ Summit by India in 2025. To take the Quad agenda forward, they adopted the Quad Wilmington Declaration.
Source:PIB
