PM Modi highlights the impact of supply chain crisis at the G20 Summit

The G20 Summit, which has high stakes for India, has begun in Bali, Indonesia. Joined by world leaders, the Indian Prime Minister Narendra Modi who took the presidency key at the summit, yesterday made remarks on the first session on food & energy security.

Mr Modi, highlighting the importance that India’s energy security holds for global growth, said in his first address, “We must not promote any restrictions on the supply of energy, and stability in the energy market should be ensured,” the Prime Minister further pointed out as he underlined the country’s commitment to “clean energy and environment”. By 2030, half of India’s electricity will be generated from renewable sources, the Prime Minister assured.

As per a statement by the Ministry of External Affairs, the PM delivering his address went on to add, “Global supply chains are in ruins. There is a crisis of essentials and essential goods all over the world. The challenge for the poor citizens of every country is more severe,”

“We should also not hesitate to acknowledge that multilateral institutions such as the UN have been unsuccessful on these issues. And we have all failed to make suitable reforms to them. Therefore, today the world has greater expectations from the G-20, and the relevance of our group has become more significant,” he said.

The G-20 summit, 2022 saw the presence of French President Emmanuel Macron, United Kingdom Prime Minister Rishi Sunak, and US President Joe Biden, who briefly interacted with PM Modi amid the first session.

With India all set to host the G20 summit next year, the PM said, “need of the hour is to show concrete and collective resolve to ensure peace, harmony, and security in the world”. “I am confident that next year when the G20 meets in the holy land of Buddha and Gandhi, we will all agree to convey a strong message of peace to the world,”

India would work for global consensus on various issues, including food and energy security and the needs of developing countries, the Prime Minister further pointed out.

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