Covid & Geo-Politics Put Food & Energy Global Value Chains At Risk: Commerce Minister Piyush Goyal

New Delhi, Nov 18 (KNN) Union Minister for Commerce and Industry Piyush Goyal on Friday said that the Global South needs to discuss ways and means for countries to cooperate and act together to make our supply chains open, secure, trusted, stable, and equitable.

Speaking at the second Voice of Global South Summit, Goyal said that the crisis of COVID-19 pandemic, impact of climate change and raging geopolitical tensions have disrupted and underscored the fragility of global supply chains. 

“These disruptions have created monumental challenges of food and energy security, cost of living and achievement of the Sustainable Development Goals,” he said.

He said that Prime Minister Narendra Modi has rightly pointed out that most of the global challenges have not been created by the Global South, but they affect us more. Prime Minister has further underscored the need for our collective voice to be heard whenever and wherever the world looks for solutions,” he added.

Goyal pointed out that India successfully hosted the G20 Summit in New Delhi in September, under the theme “one earth, one family and one future” with the support of the Global South. 

During India's G 20 presidency, the G20 generic framework for mapping global value chains was adopted to make GVCS resilient and inclusive, Goyal said, adding that this framework has been prepared, keeping in mind how countries of the global south could not only become an integral part of was GVCS, but also move up the value chain to generate more prosperity for the people. 

(KNN Bureau)