India joins SCO, PM Modi says mutual benefits will unlock region's economic potential

Speaking at the Shanghai Cooperation Organisation (SCO) meeting, Prime Minister Narendra Modi on Friday outlined that India's capacities in trade, investments, ICT, space, agriculture, healthcare and small and medium scale industries can bring widespread economic benefit to SCO countries.

While highlighting the various aspects of how India and SCO can mutually benefit from a partnership that can unlock the region's economic potential, Prime Minister Modi added that India's strong economy and its vast market could drive economic growth in the SCO region and that both partners can mutually develop human resources and institutional capacities.

He also mentioned that India would gain from SCO strengths in energy, natural resources and industry.

India formally joined the SCO after signing a Memorandum of Obligation and became a full member of the group.

Ministry of External Affairs Spokesperson Vikas Swarup tweeted, "PM @narendramodi concludes: We look forward to attending the #SCO meeting in Astana next year, as equal partners."

The Indian premier in his address at the summit also talked about the challenges and opportunities of the 21st century stating that connectivity is crucial for economic prosperity.

He said that connectivity would allow seamless flow of goods, services, capital and people and for this strong rail, road and air links with the rest of the world is needed.

He stressed his point by saying, "Our decision to join the international North South Transport Corridor and the Chabhar Agreement reflects this desire and intent."

He also called upon for a comprehensive approach for terrorism and a peaceful Afghanistan.

The Indian Prime Minister said that as a logical extension of India's age old ties with the region, 1/6th of humanity will join the SCO family.