Evian-Les-Bains:Prime Minister Narendra Modi on Wednesday proposed a framework to boost connectivity and trade by combining the strengths of the G7 nations, India and the Global South even as he flagged concerns over long-lasting consequences of the West Asia crisis on developing countries. The Prime Minister floated the proposal for setting up the International Mobilisation Partnership for Accelerating Connectivity and Trade (IMPACT) while speaking at an outreach session of the G7 summit in this French commune. Modi emphasised that modern economic growth cannot be measured solely by trade volume or GDP numbers and that the true value of progress lies in its direction, and who ultimately benefits from it. The impact of the West Asian crisis on fuel, fertiliser, and food supply chains will have long-lasting consequences for the Global South, Modi said, adding the most vulnerable countries should not bear the burden of geopolitical crises. "If we truly want to strengthen international solidarity, the most vulnerable countries should not bear the burden of these crises alone," he said.

"Our international financial institutions must create support mechanisms that help developing countries absorb these shocks and maintain their economic resilience," Modi said. The Prime Minister said the new framework to help the Global South can be modelled on the ambitious IMEC or India-Middle East-Europe Economic Corridor initiative. "Drawing inspiration from the IMEC vision, we can work on connectivity projects with countries in Africa, Latin America, and the Pacific Islands," he said. Combining the capital of the G7, India's talent, and the ownership of countries in the Global South, we could consider creating the International Mobilisation Partnership for Accelerating Connectivity and Trade, or IMPACT, he said. "Its objective should be to create corridors that connect trade, technology, energy, and opportunity," he added.