In times of globalisation, growth can be restored only with collective efforts: Salman Khurshid

Asserting that the Shanghai Cooperation Organisation (SCO) Summit is taking place in politically and economically turbulent times, External Affairs Minister Salman Khurshid has said that in times of globalisation, growth can be restored only with collective efforts by creating more jobs, bringing in financial reforms and creating a conducive environment for business.

Addressing at the Shanghai Cooperation Organisation (SCO), Heads of State Summit, 2013 in Bishkek, Khurshid said: “The world economy is troubled. In times of globalization, we know that growth can be restored only with collective efforts by creating more jobs, bringing in financial reforms and creating a conducive environment for business.”.

“We commend Russia’s lead in organising a successful G20 Summit in St. Petersburg recently, where G20 leaders deliberated, discussed and agreed on measures that are needed for global economic recovery,” he added. He further said: “But this is more an occasion for us to celebrate the milestones which the SCO has crossed over the years, in addressing the security and developmental challenges of our common region.

“The SCO, we feel, would need to continuously adapt to a changing world and reorient its objectives without necessarily diluting its original vision. We have no doubt that the SCO members will guide the destiny of the organisation with a strong sense of history,” he added.

Emphasising that India on its part has been associated with the SCO as an observer since 2005, Khurshid said: “During this period, we have discovered a great degree of convergence with the SCO in underlying values, working principles and strategic ethos. India strongly believes in the philosophical principles guiding the SCO, like progress through consensus, decisions by constructive dialogue and strengthening mutual confidence, friendship and good neighbourly relations.”

“India is guided in its approach by the mantra or principle of multilateralism, that the common good of all has primacy over any bilateral differences,” he said. “Given this fundamental approach, given India’s emergence as a vibrant economy and a vast market; our repository of human, scientific & technological knowledge; and our development and security related experience of over six decades, we believe that India can make deeper contributions to enrich the SCO process and contribute to its success,” he added

Stating that India is civilisationally linked to the ancient networks of the Silk Route which traversed the landmass occupied by the modern day SCO, Khurshid said: “These networks stimulated trans-continental development at the time, and also catalysed cultural linkages, clear evidence of which exist till today. “We therefore feel that SCO, among its other endeavours, should also focus on creating well-connected trade and investment corridors within the SCO region - with India, as in earlier times, adding value and content. These connections between our countries, whether rails, roads or pipelines, will help re-energise our economies and bring our people closer together,” he added.