India is set to see the highest growth this year among the bigger economies, Prime Minister Narendra Modi said on Friday as he addressed the expanded session of the Shanghai Cooperation Organisation Summit in Uzbekistan. Acknowledging the role of the SCO globally, PM Modi also spoke about the pandemic and the Ukraine war in his address. Stressing on the need of increased cooperation among nations, PM Modi said that India is working towards becoming a global manufacturing hub.
“The country’s economy is expected to grow at the rate of 7.5 per cent this year. I’m glad that ours is one of the fastest growing economies among the largest economies of the world,” the prime minister said. India backs cooperation and trust among the SCO nations, he pointed out, adding: “The pandemic and the Ukraine war had created multiple hurdles for the global supply chain. Because of this, the world faced an unprecedented energy and food crisis,” he underlined.
“Today, as the world is overcoming the pandemic, the role of the SCO is highly critical. The SCO nations – where 40 percent of the world population resides – contribute about 30 per cent to the global GDP. The organisation should help in bolstering diversified supply chains. For this, not just better connectivity but better transit would be the need of the hour,” PM Modi stressed.
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