SCO Summit 2022: Narendra Modi calls for reliable supply chain to boost economic recovery

Indian Prime Minister Narendra Modi urged the world leaders present at the Shanghai Cooperation Organisation (SCO) summit 2022 to work towards solving the supply chain issues that were caused by the COVID-19 pandemic and the ongoing crisis in Ukraine. The United Nations had previously expressed concerns about the food and energy crisis that has been plaguing a number of countries.

"The pandemic and the crisis in Ukraine have caused many disruptions in global supply chains, leaving the world facing unprecedented energy and food crises. SCO should strive to develop reliable, resilient and diversified supply chains in our region," Modi said according to Reuters.

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Modi further elaborated that the recent times has seen a lot of obstacles in the global supply chain, and he said that “better connectivity” is crucial for the improvement of the current situation.

“Better connectivity is required for development, and it is essential to give the right to transit.”

The Indian Prime Minister also took the opportunity to talk about how the Indian economy has bounced back after the pandemic and the growth expected in the near future.

“We are focussing on people-centric development model. We are supporting innovation in every sector. Today there are more than 70,000 start-ups and over 100 unicorns in our country.”

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“India’s economy is expected to grow at the rate of 7.5% this year. I'm glad that ours is one of the fastest growing economies among the largest economies of the world," he said.

The SCO currently comprises of eight full-time members - China, Russia, Pakistan, Iran, Kazakhstan, Kyrgyzstan, Tajikistan and Uzbekistan. Iran is expected to join the bloc in this year’s summit.