Essential to Ensure Inclusive Growth in SCO Region: Commerce Secy
Addressing the 23rd meeting of ministers of SCO responsible for foreign economic and foreign trade activities virtually, Commerce Secretary Sunil Barthwal said any effort towards fair trade practices cannot be complete without collective effort of the member states within the economies and more transparency to ensure wider economic outcome in the region
image for illustrative purpose
New Delhi: Reiterating the commitment to ‘AI for all’ for development of society, the government on Friday said it is essential to ensure inclusive growth in the Shanghai Cooperation Organisation (SCO) region, for which the member states should support each other for moving up the value chains in production of goods and services which directly impacts economic growth and citizen’s welfare.
Addressing the 23rd meeting of ministers of SCO responsible for foreign economic and foreign trade activities virtually, Commerce Secretary Sunil Barthwal said any effort towards fair trade practices cannot be complete without collective effort of the member states within the economies and more transparency to ensure wider economic outcome in the region. “India’s priorities in SCO are shaped by Prime Minister Narendra Modi’s vision of security, economic development, unity, respect and environmental protection,” he added.
Barthwal emphasised that digitalisation holds the promise for rapid economic development and prosperity. “India had successfully created a strong digital public infrastructure platform for financial inclusion, education and improving overall governance in the country,” he emphasised.
The use of digital technology as ‘public goods’ has led to widespread benefit across the population irrespective of their position in the economic hierarchy which can be replicated in the area of green energy transition, “which is a necessity to meet our net zero targets and in our common pursuit to reduce carbon footprints for sustainable growth,” said the Commerce Secretary.
He also focused on the importance of efficient logistics for international trade, in which, paperless trading is a critical step towards streamlining cross-border transactions. The Commerce Secretary emphasised on the need for strong connectivity to foster trade and economic development.
“However, while making such efforts to bolster connectivity projects, it is essential to build in trust as well as transparency in our co-operative efforts,” he mentioned. The Commerce Secretary recalled India’s active and constructive contribution to SCO through various events and meetings during its first ever Presidency for the SCO Heads of State last year.
“The 21st century is the century of technology and India is among a few countries to formulate national strategy on Artificial Intelligence (AI) and launch an AI Mission,” he noted. During the meeting, the ministers approved three documents covering different areas of cooperation. The meeting was held under the chairmanship of Pakistan.
