Little prospect of global economic recovery: EAM

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External Affairs Minister S Jaishankar expressed concerns about the prospects of global economic recovery amidst the ongoing Ukraine conflict. Speaking at the G20 Development Ministers’ conclave in Varanasi, he highlighted the challenges posed by supply chain disruptions, prolonged debt crises, and pressures on energy, food, and fertilizer security. Jaishankar emphasized the need for a united global approach to address these issues effectively.

During his address, Jaishankar emphasized India’s commitment to the Sustainable Development Goals (SDGs) and

presented an ambitious seven-year action plan aimed at accelerating progress towards the SDGs.

The plan encompasses a comprehensive and inclusive roadmap for G20 actions, focusing on digital public infrastructure, data-driven development, women-led development, and energy transition to protect the planet.

“The world today faces unprecedented and multiple crises-from the pandemic to disruptions in supply chains, conflicts, and climate events. Our era is becoming more volatile and uncertain by the day,” Jaishankar remarked. He also noted the adverse impact of the COVID-19 pandemic on progress towards the SDGs, stating that pre-existing gaps have further widened.

The SDGs, formulated by the United Nations in 2015, aim to eradicate global poverty, protect the planet, and ensure the welfare and prosperity of all individuals. Jaishankar emphasized the importance of solidarity among nations in addressing these development challenges and highlighted the potential of current decisions to contribute to an inclusive, sustainable, and resilient future.

The external affairs minister also drew attention to the disproportionate impact of climate change on the least developed countries and small island developing states. He criticized the fragmentation of international priorities, stressing the need for comprehensive commitment to all SDGs instead of cherry-picking certain goals.

India, as the current chair of the G20, presented a coordinated and integrated seven-year action plan for accelerating progress towards the SDGs. Jaishankar emphasized the transformative action required in fostering data-driven development, investing in women-led development, and ensuring globally just transitions for the survival of the planet.

The ongoing conclave of development ministers from G20 member nations, hosted by India, focuses on global supply chain disruptions, food and energy security challenges, and the impacts of climate change. The decisions taken during the event are expected to contribute to the upcoming UN summit on SDGs in September.

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