Figure 4: No Copyright Infringement Intended

Context:

• Recently, Prime Minister had addressed the assembly of the World Economic Forum.

Highlights of the Prime Minister address:

One earth, one health:

• In the process of Covid19, India has saved many lives by exporting essential medicines and vaccines according to the vision of "One Earth, One Health".
• As of December 31, 2021, India has shipped Rs 11.541.73 million Covid19 vaccines to 97 countries.
• India is the third largest pharmaceutical company in the world and is considered the "pharmacy of the world".

ProPlanet People (P3) Approach:

• At the Global Forum (UNFCCC COP 26), he proposed the idea of ​​a "P3 (ProPlanetPeople) Movement" that emphasizes India's commitment to climate change.
• Reaffirmed India's "clean, green, sustainable and reliable" energy goals with the goal of achieving Net zero's carbon emissions targets by 2070.
• Making LIFE (a lifestyle for the environment given by the Prime Minister of India at the UNFCCC COP 26 Conference) a mass movement can be a strong foundation for P3.
• LIFE is a vision of a resilient and sustainable lifestyle that helps address climate crises and other unpredictable future challenges.

 

Recent reforms implemented by India:

• Physical and digital infrastructure, such as fiber optics in the village of 60,000 rupees, has invested $ 1.3 trillion in connectivity-related infrastructure with the aim of generating $ 80 billion through monetization of assets.
• The Gatishakti National Master Plan brings all stakeholders together in one platform, giving new momentum to seamless connectivity of products, people and services.
• Today, India has the world's largest, safest and most successful digital payment platform.
• In December 2021, 4 billion transactions were processed through the Unified Payments Interface (UPI) in India.
• Technology solutions such as Arogya SetuApp for tracking corona infections and CoWin Portal for vaccination.

India as an investment destination:

• Recently, the government has taken various reform measures, including: eliminating retroactive taxation, reducing compliance requirements, and simplifying the corporate tax rate structure make it the best investment destination today.
• Last year alone, India reduced compliance by more than 25,000. Today, India has the third largest number of unicorns in the world.
• Over 10,000 startups have been registered in the last 6 months. India promotes business ease and minimizes government intervention.
• This policy focuses on the needs of the next 25 years for "clean, green" and "sustainable and reliable"

Challenges facing multilateral organizations:

• The situation was different when these institutions were The situation is different today.
• Therefore, it is the responsibility of all democracies to promote the reform of these institutions so that they can meet current and future challenges.

Joint commitment to future challenges:

• Collective and synchronous action by all countries and all global agencies is required.
• Examples include supply chain disruptions, inflation and climate change. Another example is cryptocurrency.
• The types of technology involved, the choices made by a single country, are not sufficient to meet that challenge.