Business NewsInternational NewsNational News

At the SCO conference, Prime Minister Modi expressed his desire to turn India into a manufacturing hub

Highlighting the country's economic stability, he said India has more than 70,000 start-ups and over 100 unicorns.

Samarkand: In the wake of the COVID-19 epidemic and the Russia-Ukraine war, which have disrupted supply chains around the world, Prime Minister Narendra Modi restated his commitment to turning India into a manufacturing hub on Friday.

“The world is overcoming the COVID-19 pandemic. Several disruptions occurred in the global supply chain because of the COVID and Ukraine crisis. We want to transform India into a manufacturing hub,” PM Modi said while addressing extended format of the 22nd Summit of the Council of Heads of the Shanghai Cooperation Organization Member States (SCO-CoHS) in Uzbekistan’s Samarkand.

Highlighting the country’s economic stability, he said India has more than 70,000 start-ups and over 100 unicorns.

“We are focussing on a 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,” said PM Modi.
“India’s economy is expected to grow at a 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,” he added.

The topic of “transit rights” for food supplies between neighbouring countries was also brought up by the prime minister, who emphasised that it takes India many months to transport supplies to Afghanistan via Pakistan.

The SCO Summit typically consists of two sessions: one closed to the SCO member nations only, and the other extended to observers and special invitees.

Shavkat Mirziyoyev, the president of Uzbekistan, had earlier welcomed Prime Minister Modi to the Congress Center in Samarkand for the 22nd SCO Summit. India and Uzbekistan have been collaborating hard to make sure their Chairship is successful.

A meeting in the extended format is held with participation from the SCO Member States, Observers, Special Guests of the Chair, and representatives from regional organisations.

This is the first SCO Summit to take place in person since the Covid pandemic hit the globe. In June 2019, the SCO Heads of State Summit took place for the final time in person in Bishkek.

Currently, the SCO consists of eight Member States (China, India, Kazakhstan, Kyrgyzstan, Russia, Pakistan, Tajikistan, and Uzbekistan), four Observer States (Afghanistan, Belarus, Iran, and Mongolia) that are interested in obtaining full membership, and six “Dialogue Partners” (Armenia, Azerbaijan, Cambodia, Nepal, Sri Lanka and Turkey).

The Shanghai Five, which were established in 1996, evolved into the Shanghai Cooperation Organization (SCO) in 2001 when Uzbekistan was added. India and Pakistan joined the organisation in 2017, and Tehran will be admitted as a full member in 2021, making the SCO one of the largest international organisations with almost 30% of the global GDP and 40 per cent of the world’s population.

SCO offers promise in a number of fresh industries where all the member nations might discover shared interests. India has already made significant efforts to promote collaboration in traditional medicine, science and technology, and startups and innovation.

India has made serious efforts to promote the peace, prosperity, and stability of the entire Eurasian area in general and the SCO member countries in particular since the time of its full membership.

Your Opinion Counts !

Show More

Related Articles


Adblock Detected

Please consider supporting us by disabling your ad blocker