PM Modi Addresses G7 Outreach Session, Proposes Global Initiatives

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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, PM Narendra Modi said while underlining the need for the international community to ensure vulnerable countries are not left to bear the brunt of such crises alone.

Addressing a G7 outreach session on shared and balanced growth, Modi proposed a global skills partnership to harness the abundance of skills and enterprise in developing countries. He also called for establishing an International Mobilisation Partnership for Accelerating Connectivity and Trade (IMPACT) to create trade, technology and energy corridors, bringing together G7 capital, India's talent and the ownership of Global South countries.

He called upon international financial institutions to develop support mechanisms that help developing countries absorb shocks, like from the West Asia crisis, and sustain their economic resilience. "If we are truly committed to strengthening international solidarity, the most vulnerable countries should not be left to bear the burden of these crises alone," the PM said.

Drawing inspiration from the IMEC Vision, he said the G7 could work on connectivity projects with countries in Africa, Latin America and the Pacific Island region. "This strategic corridor (IMEC) connects Asia, the Middle East, and Europe and will accelerate trade, strengthen supply chains, and create new opportunities for investment, employment and innovation across partner countries. Today, there is a need to further advance such initiatives - ones that are characterised by local ownership, transparent financing, and a clear vision for long-term sustainability," the PM said.

India's commitment to shared global prosperity was not confined to words alone but was also reflected in its actions, Modi said, highlighting how India has concluded trade agreements with most countries represented in the G7 meeting. "This reflects India's belief not in fragmentation but in integration, not in protectionism but in partnership, and not in uncertainty but in shared prosperity," he said, adding India will continue to work together with all to strengthen shared economic resilience and to build a more stable, reliable and prosperous global economy.

The Indian PM also stressed that while developed countries were confronting the challenge of ageing societies, India and other countries of the Global South possessed immense potential in terms of young talent, enterprise and skills. "To harness this natural complementarity, we may consider establishing a Global Skills Partnership. Under this framework, we can work together on skill mapping and promoting trusted skilled mobility," Modi said.