Hyderabad: Prime Minister Narendra Modi proposed an IMPACT partnership during the G7 outreach session on reviving balanced, shared and sustainable economic growth. He said the initiative could combine G7 capital, India’s talent and the ownership of Global South nations to strengthen connectivity and trade.
Addressing world leaders, Modi said economic growth should not be measured only through GDP or trade figures. He said the real question is whether growth benefits everyone and supports long-term progress.
The Prime Minister highlighted India’s development journey over the past 12 years. He said the country had advanced on the principle of “Sabka Saath, Sabka Vikas, Sabka Vishwas, Sabka Prayas.” He added that India’s growth story reflected inclusion, scale and democratic empowerment.
Modi recalled India’s G20 Presidency theme of “One Earth, One Family, One Future.” He said the vision reflected India’s belief that the world is one family.
He also highlighted the India-Middle East-Europe Economic Corridor. According to Modi, the corridor can strengthen supply chains, expand trade and create new opportunities for investment, jobs and innovation.
IMPACT partnership aims to strengthen global connectivity
The Prime Minister said countries could work on new connectivity projects across Africa, Latin America and Pacific Island nations. He proposed the International Mobilisation Partnership for Accelerating Connectivity and Trade, known as IMPACT, to build corridors that connect trade, technology, energy and opportunity.
Modi said recent crises in West Asia had affected fuel, fertiliser and food supply chains. He noted that the impact would continue to affect developing countries, especially those in the Global South.
He urged international financial institutions to create support mechanisms that help developing nations absorb economic shocks and maintain resilience.
The Prime Minister also proposed a Global Skills Partnership. He said ageing populations in developed nations and the growing talent pool in India and other developing countries created a natural opportunity for cooperation.
Furthermore, Modi said India believes in integration rather than fragmentation and partnership rather than protectionism. He noted that India had signed trade agreements with many countries represented at the summit.
He said India would continue working with global partners to strengthen shared economic resilience and support a stable, reliable and prosperous world economy.
