"Any growth today is largely accounted by developing world": G20 Chief Coordinator Shringla
Apr 12, 2023
New Delhi [India], April 12 G20 Chief Coordinator Harsh Vardhan Shringla on Wednesday said "any growth today is largely accounted by the developing world".
The G20 Chief Coordinator who attended a conference of Centre for Global India Insights in New Delhi on Wednesday said the developing world bore the brunt of the consequences of many of the global situations. "And that has been manifested by slower demand for goods and services, lowering remittances and increasing tendency towards indebtedness," he added.
Speaking on global growth from the developing world, he said 4/5 of the global growth is from the Global South, of which 15 per cent is accounted for by India alone. Having said this, he said, "We have, I think come out of Covid in a manner that has been quite resilient economically."
Stressing the importance of the next 25 years and the young people during his speech, he said, "The next 25 years is very important and those 25 years is really the onus of securing that objective of becoming a USD 30 trillion economy from the current USD 3-trillion economy rise largely on many of the young people I see in the hall and of course the youth of India, those who are 25 today will be 50 in 2047."
Speaking on the lines of objectives in the G20, he said, "The first objective is accelerated, sustainable and inclusive growth. So inclusivity is important in this regard. Of course, when we talk about the consequences today, it's not just in terms of development or economic growth, it is also in terms of faltering socioeconomic indicators, the SDGs (Sustainable Development Goals) where the middle of this process are also losing momentum..."
Shringla said, "Inclusivity has to really come from within and when we have, when you look at our Presidency, I think we have tried to use inclusivity, or rather keep inclusivity foremost in our consideration when we have planned our Presidency."
