India’s SCO membership to drive economic growth

The Dollar Business Bureau

Prime Minister Narendra Modi on Friday signed the MoU of obligation in Tashkent, Uzbekistan to join the Shanghai Cooperation Organisation (SCO).

Modi underscored that the partnership will help protect the region from threats of radicalisation, violence and terror and drive the region’s economic growth.

“India may benefit from the grouping's strengths in energy and natural resources and in turn India's strong economy and vast market could drive economic growth in the SCO region,” Modi said.

India’s overall volume in trade, information and communication technology, investments, agriculture, space, health care, small and medium scale industry can bring wide spread economic benefit to the SCO countries including Kazakhstan, Uzbekistan, Russia, Kyrgyzstan, Tajikistan, and China, noted the Prime Minister.

India needs to sign 30 other documents during the course of the year to complete the process for membership. 

Acknowledging Pakistan’s participation in the group, Modi said both countries’ partnership in the group will protect their societies from the threats of radical ideologies of hate, violence and terror.

"We are indeed grateful to the SCO member states and its leaders for their overwhelming support for India's membership of the SCO. I also welcome Pakistan as the new member of the SCO," said the Prime Minister.

"Our decision to join the International North-South Transport Corridor, the Chabahar Agreement and Ashgabat Agreement reflects this desire and intent," Modi added.