Prime Minister Narendra ModiÂs opening remarks at the informal summit of ‘Russia-India-China’ (RIC) leaders on the margins of G-20 Summit 2019.
Here is the full abstract what he said.
As the world’s leading economies, exchange of views between us, on the economic, political and security situation of the world is important. Our trilateral meeting today is a useful medium for discussing and coordinating on major global issues.
We had an exchange of views on many issues in the meeting of our Foreign Ministers in China in February this year. It included the promotion of counter-terrorism, international hot-spot issues, reformed multilateralism, climate change, and cooperation under RIC.
With this kind of informal discussion, we get an opportunity to coordinate with each other on the main topics of G-20. Today I will focus on three major challenges. First, the recession and uncertainty in the world economy. One-sided decision and rivalry are dominating over rules based on multilateral international trade systems. On the other hand, the lack of resources is reflected in the fact that there is an estimated deficit of $ 1.3 trillion for investing in infrastructure development of emerging market economies.
The second major challenge is to make development and progress inclusive and sustainable. Rapidly changing technologies such as digitization and climate change are not just challenges for us, but for the future generations also. Development is truly development in the right direction when it reduces inequality and contributes to the empowerment. Terror is the biggest threat to all of humanity. It not only takes the lives of innocent people, but it has a huge adverse effect on economic progress and social stability. We have to stop all the means of support and help available to terrorism and racism.
Although the resolution of these problems is not easy, yet I would like to make 5 key recommendations in the limited time:i)-The synergy between BRICS countries can lead, to some extent, to the resolution of the side effects of unilateral decisions. We have to keep on emphasizing for reformed multilateralism in international financial and business institutions and organizations for the necessary reforms.
ii)-For sustained economic growth the required resources such as oil and gas are needed to be constantly available at low prices.
iii)-Physical and social infrastructure and renewable energy programs of the member countries should get more priority by the New Development Bank. India’s initiative for Coalition for Disaster-Resilient Infrastructure will help in the development of appropriate infrastructure to face natural calamities by the least developed and developing countries. I exhort all of you to join this coalition.
iv)-Movement of skilled workers around the world should be easy. This will also benefit the countries where a large part of the population has crossed the working age.
v)-I have recently called for a Global Conference on Terrorism. Lack of necessary consent to fight against terrorism cannot keep us deedless. I appreciate Brazil to give a place in the main priorities to the fight against terrorism.