Evian-les-Bains (France)

PrimeMinister Narendra Modi on Wednesday proposed a new global framework to strengthen connectivity and trade by bringing together the strengths of the G7 nations, India and countries of the Global South.

Addressing the outreach session of the G7 Summit, Modi suggested the creation of the International Mobilisation Partnership for Accelerating Connectivity and Trade (IMPACT), modelled on the proposed India-Middle East-Europe Economic Corridor (IMEC).

“Like the vision of IMEC, can we work on connectivity projects with countries in Africa, Latin America and the Pacific Islands?” Modi asked while speaking at the session on ‘Reviving a Balanced, Shared and Sustainable Economic Growth for All’. He said the proposed framework could combine G7 capital, India’s skilled workforce and the ownership of Global South nations to accelerate infrastructure development and trade integration.

The IMEC initiative, announced on the sidelines of the G20 Summit in New Delhi in 2023, envisages an extensive network of rail, road and maritime links connecting India, the Middle East and Europe. However, progress has slowed due to the ongoing conflict in West Asia.

Highlighting the importance of inclusive growth, Modi said economic progress should be judged not merely by GDP or trade figures but by who benefits from it. “The real question is—growth for whom, with whom and in what direction?” he said.

The Prime Minister also underlined the demographic advantage of India and other Global South countries, noting that while many advanced economies are ageing, these nations possess a large pool of young talent, entrepreneurs and skilled workers.

To leverage this complementarity, Modi proposed a ‘Global Skills Partnership’ focused on skill mapping and promoting trusted mobility of skilled professionals across countries. India attended the G7 Summit as a guest nation. Modi reached France after concluding a two-day visit to Slovakia.