G20 countries must build resilient, inclusive global value chains: PM Modi
During his address at the G20 Trade and Investment Ministerial meeting on August 24, Prime Minister Narendra Modi placed strong emphasis on India’s unwavering dedication to achieving substantial economic growth. In his remarks, PM Modi highlighted the successful attainment of policy stability within the nation and reaffirmed India’s ambitious goal of ascending to the position of the world’s third-largest economy in the forthcoming years.
In the face of global challenges arising from the ongoing pandemic and geopolitical tensions, PM Modi underscored the critical importance of fostering confidence and trust in international trade and investments. Recognizing that these challenges have cast a shadow of uncertainty over the global economic landscape, the Prime Minister’s call for confidence-building mechanisms in trade and investment reinforces India’s commitment to contributing to global economic stability.
PM Modi’s address at the G20 meeting not only reflects India’s aspirations for economic growth and development but also positions the nation as an active participant in addressing the pressing global issues affecting trade and investments. By advocating for international cooperation and confidence-building measures, India underscores its role as a responsible and forward-looking player in the global economic arena.
The G20 Trade and Investment Ministerial meeting serves as a platform for discussions and collaborations among major economies to navigate the complex challenges facing international trade and investments. PM Modi’s participation and remarks at the meeting highlight India’s proactive engagement in shaping the course of global economic policies and promoting a conducive environment for sustainable growth and development.
In conclusion, Prime Minister Narendra Modi’s address at the G20 Trade and Investment Ministerial meeting underscores India’s resolute commitment to achieving substantial economic growth and policy stability. By highlighting the nation’s aspiration to become the third-largest economy and advocating for confidence-building mechanisms in international trade and investments, PM Modi positions India as an active and responsible participant in addressing global economic challenges and fostering cooperation among major economies.
Prime Minister Narendra Modi called upon the G20 nations to engage in collaborative efforts aimed at constructing resilient and inclusive global value chains that can effectively navigate and withstand uncertainties that may arise in the future. This call to action was a prominent feature of his address, highlighting the importance of enhancing the stability and strength of global economic interconnectedness.
Prior to the commencement of the G20 trade ministers meeting, Commerce and Industry Minister Piyush Goyal expressed his optimism in building a consensus on what is referred to as the “Jaipur call for action.” This initiative seeks to foster a collective commitment among G20 member nations to promote investments and bolster global trade. The “Jaipur call for action” serves as a framework for addressing challenges and leveraging opportunities in international trade and investment, with a focus on fostering cooperation and sustainable growth.
The idea behind the “Jaipur call for action” aligns with Prime Minister Modi’s larger call for constructing robust and inclusive global value chains. It aims to create a common understanding among G20 nations on the crucial steps required to stimulate investments, strengthen trade relationships, and facilitate economic resilience on a global scale.
The participation of Commerce and Industry Minister Piyush Goyal in expressing optimism for the “Jaipur call for action” underscores India’s active engagement in shaping discussions and outcomes at the G20 trade ministers meeting. By highlighting the potential for consensus on this initiative, India signals its intent to collaborate with other member nations in creating a shared roadmap for enhancing international trade and investments.
In conclusion, Prime Minister Modi’s call for constructing resilient global value chains and Commerce and Industry Minister Piyush Goyal’s expression of hope for the “Jaipur call for action” together reflect India’s proactive stance in promoting cooperation, investment, and sustainable trade practices within the G20 framework. These initiatives demonstrate India’s commitment to contributing to a more stable and inclusive global economic landscape.
Commerce and Industry Minister Piyush Goyal acknowledged the existing differences among G20 member countries concerning the Russia-Ukraine conflict. He highlighted that while striving to build a consensus on various issues, the members are cognizant of these differences and are working within the framework of these realities.
Responding to concerns about potential disagreements arising from the Russia-Ukraine conflict, Goyal emphasized that the G20 member countries are focused on building consensus on as many issues as possible while taking into account the complex geopolitical landscape. He noted that there is a strong understanding and willingness among member nations to collaborate on various matters. However, he also acknowledged that certain realities, particularly those related to the Russia-Ukraine conflict, may not allow for a unanimous consensus.
Goyal underlined that the G20 member nations are committed to addressing shared priorities and working together to achieve common goals, while being aware of the limitations posed by certain real-world situations that might prevent a full consensus. Despite these challenges, the emphasis remains on achieving alignment and agreement on the majority of issues that are within the realm of possibility.
In conclusion, Commerce and Industry Minister Piyush Goyal’s statement underscores the complexities that arise when diverse nations collaborate within the G20 framework, especially when faced with differing perspectives on significant global issues like the Russia-Ukraine conflict. His remarks highlight the diplomatic efforts being made to foster consensus while recognizing the reality of certain disagreements that may be beyond immediate resolution. This approach demonstrates a commitment to finding common ground on shared priorities while acknowledging the complexities and limitations inherent in international relations.
