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Self-Reliant India initiative will have a multiplier effect on the world economy: SCO Secretary General Vladimir Norov

Self-Reliant India initiative will have a multiplier effect on the world economy: SCO Secretary General Vladimir Norov

November 28, 2020

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Home News World

Self-Reliant India initiative will have a multiplier effect on the world economy: SCO Secretary General Vladimir Norov

by admin
November 28, 2020
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Self-Reliant India initiative will have a multiplier effect on the world economy: SCO Secretary General Vladimir Norov
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Secretary General of Shanghai Cooperation Organization Vladimir Norov has praised “Self-Reliant India” initiative by Prime Minister Narendra Modi saying that it deserves high attention.

Ahead of 19th Council of Heads of government of Shanghai Cooperation Organisation on November 30, 2020 hosted by India in video conference format, he spoke to Prasar Bharati Special Correspondent in Beijing, Anshuman Mishra in an Exclusive interview.

In a wide-ranging interview, he talked about cooperation during COVID-19 pandemic and reviving national economies. About ‘Self Reliant India’, he said, it aims to strengthen industry, medium and small enterprises, which are the livelihood of millions of people in India.

“I note that the “Self-Reliant India” initiative voiced by Mr. Modi deserves high attention. I am confident that the initiative will have a multiplier effect on the world economy, as well as will contribute to the early recovery of the economies of the SCO member States in the post-Pandemic period and to intensification of multi-faceted trade and economic cooperation within the Organization”, he noted.

He said that with India’s accession to SCO, new opportunities for further development and deepening of full-scale cooperation have opened up.“India’s Prime Minister Narendra Modi has put forward a number of important proposals to further deepen cooperation in a number of areas, including development of alternative energy sources, environmental protection, development of innovative technologies and start-ups, capacity building in telemedicine, pharmaceuticals, medical tourism, financial services, tourism, etc.”, he said.

Mr. Norov said that India continues to expand its trade and economic relations with the SCO countries. Since joining the SCO, bilateral trade of India with other SCO member states has increased by 27 percent between 2017 and 2018, compared to the previous period. He said, at a time when the world is suffering from coronavirus pandemic, India plans to seize opportunities presented by the crisis, which will also benefit peoples and countries of the SCO region.

The Council of Heads of Government is the main body of the SCO responsible for making decisions in the field of trade, economic, cultural and humanitarian cooperation. India is hosting this meeting for the first time after joining the SCO in 2017 as a full member. Today, the SCO region is home to almost half of humanity. The total GDP of the SCO member states is about 22 percent of the world’s GDP. This figure is expected to reach 35-40% of world GDP by 2030.

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