Osaka, Japan: Prime Minister Narendra Modi Friday presented a five-point approach to tackle common global challenges. "Today I will focus on three major challenges," PM Modi said while addressing the informal BRICS leaders' meeting in Japan's Osaka, held on the sidelines of G20 Summit.
"First, the recession and uncertainty in the world economy," he said. Next, he spoke on rapidly changing technologies such as digitisation and climate change – a major concern for future generations. And the third challenge – terrorism. “Terror is the biggest threat to all humanity,” he said. “Not only does it takes the lives of innocent people, but it also affects economic development and communal harmony. We have to stop all mediums of support to terrorism and racism,” he said.
To solve these issues, PM Modi presented a five-point approach on how BRICS countries can lead the way in addressing global challenges:
1) Reformed multilateralism by improving international financial and business institutions.
2) Energy security and access to energy.
3) India's initiative for Coalition for Disaster Resilient Infrastructure.
4) Ease of movement for skilled workers.
5) Hosting a Global conference on countering terrorism.
Emphasising on reforms in international financial and business institutions, PM Modi said that energy resources like oil and gas should be available at low prices regularly for continuous economic development.
For sustainable and inclusive development, the New Development Bank should give priority to the investment in the physical and social infrastructure and renewable energy programmes of member countries. The New Development Bank is a multilateral development bank established by the BRICS nations (Brazil, Russia, India, China and South Africa).
On ease of movement for skilled workers, he said it will benefit countries where a large part of the population has crossed the working age.
And finally, for the fight against terror, the prime minister called for an international conference on terrorism. “The fight against terrorism needs to be among our top priorities,” he said.
PM Modi is on a three-day visit to Japan for the G20 Summit. He held bilateral talks with US President Donald Trump on Friday. The two leaders met shortly after the Japan-America-India trilateral meeting during which PM Modi highlighted "the importance India attaches to" the grouping.