'Disruptions In Fuel, Fertiliser, Food Supply Chains...': At G7, PM Modi Warns Of Lasting Impact Of Iran War

Evian: Prime Minister Narendra Modi on Wednesday addressed the G7 Outreach Session on ‘Reviving a Balanced, Shared and Sustainable Economic Growth for All in Evian, France.’ During his address, PM Modi highlighted the adverse effect of the Iran war on the supply chains of fuel and fertilisers and its impact on daily life of people. He even underscored that the impact of the war will continue in the future also. "The disruptions in fuel, fertiliser and food supply chains caused by the crisis in West Asia will continue to impact the Global South for a considerable period," the Prime Minister said.He urged the developed nations not to leave vulnerable countries alone to bear the affects of the war. "If we genuinely seek to strengthen international

solidarity, the most vulnerable countries should not be left to bear the burden of these crises alone. Our international financial institutions should develop support mechanisms that help developing countries absorb these shocks and maintain their economic resilience, he said.

The Prime Minister also called for more inclusive and sustainable approach to economic growth, urging developed nations to work closely with the Global South. "Today, many societies are becoming ageing societies while India and other countries of the Global South have abundance of young talent, entrepreneurship and skills. To harness this natural complementarity, called for the creation a Global Skills Partnership, where we can work together on skill mapping and promoting trusted skilled mobility," said PM ModiPM Modi stressed that growth should not merely be measured by GDP or trade figures, but by who benefits from it and in which direction it progresses."At the G7 Summit in Evian, addressed the Outreach Session on ‘Reviving a Balanced, Shared and Sustainable Economic Growth for All.’ It is good that the French G7 Presidency has given importance to this topic. The reality today is- when it comes to growth, the question should not be about GDP or trade numbers. The real question is - Growth for whom, with whom and in what direction?" said the Prime Minister.

Highlighting the demographic contrast between ageing societies and developing economies, the Prime Minister noted that while many countries are grappling with ageing populations, India and other nations of the Global South possess abundant young talent, entrepreneurial spirit and skills. To leverage this natural complementarity, PM Modi proposed the creation of a Global Skills Partnership. The Prime Minister urnderscored that India's development journey demonstrate how shared growth can translate aspirations into reality."India’s experience demonstrates that shared development can help transform aspiration into reality. India’s growth story is one of inclusion, scale and democratic empowerment. It is inspired by ‘Sabka Saath, Sabka Vikas, Sabka Vishwas, Sabka Prayas’ (Together with all, Development for all, Trust of all, Efforts by all). And, it has been reflected on countless occasions such as India’s G20 Presidency, the launch of India-Middle East-Europe Economic Corridor (IMEC) and more," PM noted.The Prime Minister also pitched for expanding connectivity initiatives beyond existing corridors."Like the vision of IMEC, can we work on connectivity projects with countries in Africa, Latin America and the Pacific Islands? By combining G7 capital, India’s talent and the ownership of Global South countries, we may also consider establishing an International Mobilisation Partnership for Accelerating Connectivity and Trade (IMPACT)," said PM Modi.

https://www.youtube.com/watch?v=X1bweuBPV6Q

Later in the day, PM Modi will hold a bilateral meeting with US President Donald Trump on the sidelines of the G7 Summit.