India calls for greater co-operation among SCO members to deal with global challenges

Goa: Amid fears of a global recession, India on Wednesday underlined the need for greater cooperation among Shanghai Cooperation Organization (SCO) members for combating challenges relating to food and energy security.

Addressing the Council Meet of the SCO Inter-bank Consortium (IBC), Financial Services Secretary Vivek Joshi said as part of India's contribution to mitigating the above challenges, Prime Minister Narendra Modi has launched global mission ‘LIFE' – which stands for Lifestyle for Environment. LIFE envisions replacing the prevalent 'use-and-dispose' economy - governed by mindless and destructive consumption - with a circular economy, which would be defined by mindful utilization of resources, he said in his inaugural address.

"Today, when the world is facing challenges of a looming economic recession, a closer cooperation among SCO member states shall play a pivotal role in combating global challenges such as food and energy security concerns," he said.

Observing that India is inclined towards building a sustainable and resilient infrastructure, Joshi said, resilient infrastructure is not just about safe transfer of goods and services across roads, bridges or railways but it is also about the people, households and the communities that depend upon these systems as a lifeline to better health, education and secure livelihood. There is a felt need for SCO members to emphasize the need to integrate resilience into infrastructure, ensure access, delivery and continuity of essential services to people and communities facing increasing exposure and impact of disasters and extreme climatic events, he said.