BALI: Prime Minister Narendra Modi on Tuesday stressed the need not to promote any restrictions on energy supply and called for ensuring stability while once again insisting on resolving the Ukrainian conflict through diplomacy.
In an address to the G-20 summit here, Modi said climate change, the Covid-19 pandemic, developments in Ukraine and associated global issues have wreaked havoc around the world as chains of global supplies are in ‘ruins’. .
The PM’s plea not to impose restrictions on energy supplies came amid the West’s call against buying Russian oil and gas in preparation for the invasion of Ukraine by Moscow.
“India’s energy security is also important for global growth as it is the fastest growing economy in the world. We must not promote any restrictions on energy supply and stability of the energy market must be ensured,” Modi said during the session on food and energy security, which was also attended by world leaders like US President Joe Biden and Russian Foreign Minister Sergei Lavrov on behalf of the president. Vladimir Poutine.
He said India is committed to clean energy and the environment.
“By 2030, half of our electricity will be produced from renewable sources. Time-limited and affordable financing and a sustainable supply of technology to developing countries are essential for an inclusive energy transition”, he said. he added during the summit being held in this Indonesian city.
The Prime Minister also praised Indonesia for its leadership of the G20 in a difficult global environment.
“Climate change, the Covid pandemic, the developments in Ukraine and the global issues associated with it. All of these have wreaked havoc around the world. Global supply chains are in shambles,” Modi said.
“There is a crisis of essential goods all over the world. The challenge for poor citizens in every country is more serious. Daily life was already a struggle for them,” he said.
Prime Minister says poor people lack financial capacity to deal with ‘double whammy’
“Because of the double whammy, they don’t have the financial capacity to deal with it. Nor should we shy away from acknowledging that multilateral institutions such as the UN have failed on these issues,” he said. he declared.
“And we have all failed to bring the proper reforms there. Therefore, today the world has greater expectations of the G-20, the relevance of our group has become more important,” he said. he added.
Regarding the conflict in Ukraine, he referred to his repeated call to resolve the crisis through talks.
“I have repeatedly said that we must find a way to find a way back to ceasefire and diplomacy in Ukraine. Over the past century, the Second World War has wreaked havoc on the world,” did he declare.
“After that, the leaders of the time made a serious effort to take the path of peace. Now it is our turn. The responsibility of creating a new world order for the post-Covid period rests on our shoulders “, he noted.
The Prime Minister said the need of the hour was to show “a concrete and collective determination” to ensure peace, harmony and security in the world.
“I am confident that next year, when the G20 meets in the holy land of Buddha and Gandhi, we will all agree to bring a strong message of peace to the world,” he said.
The G20 includes 19 countries: Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, South Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, United Kingdom, United States United States and European Union (EU).

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