Fri, 16 Sep 2022 02:23 PM IST
IN THE wake of the COVID-19 pandemic and the Russia-Ukraine war, which have disrupted the supply chain worldwide, Prime Minister Narendra Modi on Friday asserted to make India a Manufacturing hub.
While addressing the extended format of the 22nd Summit of the Council of Heads of the Shanghai Cooperation Organization Member States (SCO-CoHS) in Uzbekistan's Samarkand, PM Modi, "The world is overcoming the COVID-19 pandemic. Several disruptions occurred in the global supply chain because of the COVID and Ukraine crises. We want to transform India into a manufacturing hub.”
Highlighting the country's economic stability, he said India has more than 70,000 start-ups and over 100 unicorns. He also said that India's economy is expected to grow at a rate of 7.5 per cent this year.
"We are focussing on a people-centric development model. We are supporting innovation in every sector. In India, there are more than 70,000 start-ups and over 100 unicorns. The country’s economy is also expected to grow at a rate of 7.5 per cent this year. Our country is one of the fastest growing economies among the largest economies of the world,” he added.
PM Modi also brought up the issue of "transit rights" of food supplies between the neighbouring nations highlighting that it took many months for India to send supplies to Afghanistan via Pakistan.
Meanwhile, He also the SCO should concentrate on developing a resilient and diversified supply chain. “We want to encourage traditional medicines among SCO nations... The SCO needs to focus on bringing diversified and resilient supply chains,” PM Modi at the SCO Summit in Samarkand.
The SCO Summit usually has 2 sessions - a restricted session, only for the SCO member states, and then an extended session which includes participation by observers and special invitees.
This is the first in-person SCO Summit after the Covid pandemic hit the world. The last in-person SCO Heads of State Summit was held in Bishkek in June 2019.
The SCO currently comprises eight Member States (China, India, Kazakhstan, Kyrgyzstan, Russia, Pakistan, Tajikistan and Uzbekistan), four Observer States interested in acceding to full membership (Afghanistan, Belarus, Iran, and Mongolia) and six "Dialogue Partners" (Armenia, Azerbaijan, Cambodia, Nepal, Sri Lanka and Turkey).
(With Agency Inputs)