“The world is overcoming the COVID-19 pandemic. There were several disruptions in the global supply chain due to the COVID and Ukraine crisis. We want to transform India into a manufacturing hub,” he said PM Modi while addressing the expanded format of the 22nd Summit of the Council of Heads of States of the Shanghai Cooperation Organization (SCO-CoHS) in Samarkand, Uzbekistan.
India has more than 70,000 start-ups, 100 unicorns
Highlighting the country’s economic stability, he said India has more than 70,000 start-ups and more than 100 unicorns.
“We are focusing on a development model centered on people. We support innovation in all sectors. Today there are over 70,000 start-ups and over 100 unicorns in our country,” PM Modi said.
“India’s economy is expected to grow at a rate of 7.5% this year. I am happy that ours is one of the fastest growing economies among the world’s largest economies,” he added.
“It is estimated that India’s GDP is 7.5% this year, it is the highest in the world”: @narendramodi
— News24 (@news24tvchannel) September 16, 2022
The issue of traffic rights has been raised
The prime minister also raised the issue of “transit rights” for food supplies between neighboring nations pointing out that it took many months for India to send supplies to Afghanistan through Pakistan.
SCO has 2 sessions
The SCO summit usually has 2 sessions: a restricted session, for SCO member states only, and then an extended session that includes the participation of observers and special guests.
Earlier, Uzbekistan President Shavkat Mirziyoyev welcomed Prime Minister Modi to the Samarkand Convention Center for the 22nd SCO Summit. India has been working closely with Uzbekistan to ensure the success of its chairmanship.
SCO Member States, observers, special guests of the Chair and representatives of regional organizations gather for a meeting in the expanded format.
First SCO summit after Covid-19
This is the first in-person SCO summit since the Covid-19 pandemic hit the world. The last in-person SCO Heads of State Summit was held in Bishkek in June 2019.
Members of SCO
The SCO currently consists of eight member states (China, India, Kazakhstan, Kyrgyzstan, Russia, Pakistan, Tajikistan and Uzbekistan), four observer states interested in joining as full members (Afghanistan, Belarus, Iran and Mongolia) and six “Dialogue Partners”. (Armenia, Azerbaijan, Cambodia, Nepal, Sri Lanka and Turkey).
Shanghai Five became the Shanghai Cooperation Organization
The Shanghai Five, formed in 1996, became the Shanghai Cooperation Organization (SCO) in 2001 with the inclusion of Uzbekistan. With the entry of India and Pakistan into the grouping in 2017 and the decision to admit Tehran as a full member in 2021, the SCO became one of the largest multilateral organizations, representing almost the 30% of the world’s GDP and 40% of the world’s population.
SCO has potential in several new sectors, where all member states could find converging interests. India has already put a lot of effort into cooperation in startups and innovation, science and technology, and traditional medicine.
From the time of its full membership, India made sincere efforts to promote peace, prosperity and stability of the entire Eurasian region in general and the SCO member countries in particular.