Addressing the Baku #NAM Ministerial Meeting.The world tday has moved on from what the NAM founding leaders faced in Bandung in 1955.The scales of global geopolitical balance hv shifted&continue to do so,propelled by forces of globalis’n & transformational technological progress
We are more interconnected& interdependent thn ever before. Climate change,environmental degradation,terrorism,poverty, humanitarian/natural calamities, cyber security threats,serious security implications of frontier technologies are just some of the challenges of this new world
These challenges can only be faced together, not when we are divided. It requires collaboration, not coercion. In short, effective multilateralism remains the only answer. And that requires all of us to be truly independent and think for ourselves.
Multilateralism is undoubtedly under strain today. It is important that our Movement - that represents two thirds of the world’s population - continues to work together and take the lead in building multilateral governance structures that are capable of meeting these challenges.
We must reform and revitalise the current arrangements and working methods of our Movement, to allow us to pursue a positive and forward looking agenda. At the same time, we must guard against attempts to divide us and to misuse multilateral platforms to further narrow interests.
A democratic, effective, flexible, credible, transparent and representative, multilateral order – “reformed multilateralism”, – is a 21st century imperative.
2. Approval of PM-Surya Ghar: Muft Bijli Yojana for installing rooftop solar in 10 million households.
Will save electricity bills and help households earn additional income through sale of surplus power to DISCOMs. Will also create around 170,000 direct jobs.
3.Approval of royalty rates for mining of 12 critical and strategic minerals.
The decision completes the rationalisation of royalty rates for all 24 critical and strategic minerals and will enable Government to auction blocks for these 12 minerals for the first time.
Finance Minister @nsitharaman ji presented the Budget of the 5th largest economy of the world today.
10 reasons why the world should welcome it:
𝟏.𝐈𝐧𝐝𝐢𝐚 𝐚𝐬 𝐚 𝐬𝐭𝐫𝐨𝐧𝐠𝐞𝐫 𝐞𝐧𝐠𝐢𝐧𝐞 𝐨𝐟 𝐠𝐥𝐨𝐛𝐚𝐥 𝐠𝐫𝐨𝐰𝐭𝐡. Capital investment outlay increased by 33% to Rs 10 trillion (Now 3.3% of GDP).
𝟐.𝐄𝐧𝐡𝐚𝐧𝐜𝐢𝐧𝐠 𝐄𝐚𝐬𝐞 𝐨𝐟 𝐃𝐨𝐢𝐧𝐠 𝐁𝐮𝐬𝐢𝐧𝐞𝐬𝐬. Includes KYC process simplification, Greater GIFT IFSC activities and establishing an EXIM Bank subsidiary for trade re-financing, PAN as Common Business Identifier, Central Data Processing Centre,
This ranges from enhancing self-reliance, reducing poverty, unleashing youth and women power and strengthening diversity.
India is today a provider of solutions, ensuring basic facilities to its people, creating a modern infrastructure, building a digital network, eliminating corruption in Government schemes and above all, overcoming policy paralysis.
2️⃣ India’s working democracy is an important reason for the world why it matters.
3️⃣ India matters because global opportunities and challenges cannot be separated and India counts on both scores.
4️⃣ India matters when it is perceived as an exemplar by many in the Global South. And because there are few others who have taken our Development Partnership approach.
5️⃣ India matters when it makes a greater contribution to global production and services.
Addressed Foreign Ministers’ Session on G20 at Voice of Global South Summit.
Made following 7️⃣points:
1️⃣India and the Global South not only have a common future but also a common past. We shoulder burdens of a colonial past,even as we face inequities of the current world order.
2️⃣ While we promote faster rebalancing, more multipolarity and reformed multilateralism, it is imperative that key global conversations of our times reflect our concerns and challenges.
3️⃣ Challenges of unsustainable debt, unviable projects, trade barriers, contracting financial flows and climate pressure have been compounded by covid pandemic & knock-on effects of the Ukraine conflict.