G20 Summit: PM Modi calls the shortage of vital products and the poor’s lack of financial resources a “double whammy.”
G20: PM Narendra Modi referred to the shortage of basic necessities as a “double whammy” along with the poor people’s lack of financial resources.
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On Tuesday, Prime Minister Narendra Modi referred to the shortage of basic necessities as a “double whammy” along with the poor people’s lack of financial resources. Pointing out that the Covid-19 pandemic and the situation in Ukraine have made life more difficult for the poor people in every country.
Speaking during the G-20 summit’s session on “food and energy security” on Tuesday in Bali, Indonesia, Modi urged the G-20 leaders to find a way to get back to the diplomatic and peaceful route in Ukraine.
“The current fertilizer scarcity is a serious dilemma for food security. The world will not have a solution for tomorrow’s food catastrophe, which will result from today’s fertilizer scarcity, the PM said, pleading with world leaders to reach a consensus in order to keep the supply chains for food grains and manure stable.
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The current stage of climate change, the Covid epidemic, the events in Ukraine, and the global issues related to it were all described by PM Modi as a “difficult global environment.” He claimed that when taken collectively, these had wreaked devastation on the planet and destroyed global supply lines.
“There is a global shortage of vital supplies. Every country’s poor residents face a greater struggle. Already, just getting by was difficult for them. They lack the financial resources to handle the double whammy. They don’t have the financial resources to handle it because of the double whammy, he told the world leaders.
Regarding the food and fertiliser crisis, PM Modi claimed that India provided its 1.3 billion residents with food security during the pandemic. At the same time, he continued, foodgrains were also given to numerous underdeveloped nations. As the world’s fastest-growing economy, India’s energy security is crucial for global growth, according to Prime Minister Modi. “Stability in the energy market should be preserved,” the statement reads. “We must not advocate any limits on the supply of energy.”
India is currently a member of the G20 Troika, which consists of Indonesia, Italy, and India for the current, past, and incoming presidencies.
An intergovernmental forum of significant developed and developing economies is known as the G-20. It consists of countries from the European Union as well as Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, South Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, the UK, and the United States (EU). The G20 is the top forum for global economic cooperation, with two-thirds of the world’s population, over 75% of the world’s trade, and about 85% of the world’s GDP represented.
