PM Narendra Modi stresses ‘mutual trust’ in investment pitch, targets China | India News

Headline: “PM Narendra Modi Calls for Investment in India, Citing Pandemic Supply Chain Disruptions”

Sub-headline: “Invoking ‘Mutual Trust’ and ‘Democratic Values’, Modi Criticizes Unnamed Countries for Treating Others as Mere Markets”

NEW DELHI: In a bid to attract investments, India’s Prime Minister Narendra Modi emphasized on the importance of ‘mutual trust’ and ‘democratic values’ during his address at the B20 meet. Although he refrained from directly naming China, his remarks were seen as an indirect criticism of China’s disruptions in the supply chain amid the COVID-19 pandemic.

Modi asserted that a profitable market could only be sustained when there is a balance between the interests of producers and consumers. He stated, “Treating other countries only as a market will never work. It will harm even the producing countries sooner or later. Making everyone equal partners in progress is the way forward.”

Sub-headline: “India Seeks to Position Itself as an Attractive Investment Destination”

India, in recent years, has been working towards positioning itself as an appealing investment destination. This comes amidst companies worldwide seeking to diversify their production bases and reduce their dependency on China. Modi’s comments follow his meeting with Chinese President Xi Jinping at the Brics summit in Johannesburg, indicating India’s ongoing discomfort with its neighbor amid escalating border tensions.

Sub-headline: “Modi Warns Against a New Model of Colonialism”

Modi also issued a warning regarding a potential new model of colonialism due to China’s control over a significant number of critical minerals worldwide. He noted that if countries with abundant resources failed to acknowledge their global responsibility, it could lead to a new form of colonialism.

In addition, Modi also suggested an integrated approach towards cryptocurrency, a topic high on the priority list for the upcoming G20 leaders’ summit. He emphasized the need for a global framework that takes into account the interests of all stakeholders.

Sub-headline: “Modi Raises Ethical Concerns Around Artificial Intelligence”

Finally, PM Modi highlighted concerns around artificial intelligence (AI), expressing excitement but also acknowledging ethical considerations. He pointed out the importance of skilling and reskilling, the bias in algorithms, and their societal impact. He stressed the need for global business communities and governments to ensure ethical AI gets due attention.

The B20 meeting was attended by industry leaders from across the globe. As India continues to navigate its relations with China, Modi’s comments underline the nation’s efforts to position itself as an attractive investment destination.

Original Story at m.timesofindia.com – 2023-08-27 19:16:00