India on Wednesday said that with the world facing challenges of a "looming economic recession", a closer cooperation amongst the Shanghai Cooperation Organisation (SCO) members will play a pivotal role in combating challenges such as food and energy security.
Speaking at the 19th meeting of the Shanghai Cooperation Organisation Interbank Consortium (SCO IBC), Vivek Joshi, Union Secretary for Department of Financial Services, also said that India has been contributing to mitigate the challenges of food and energy security. Today, when the world is facing challenges of a looming economic recession, a closer cooperation among SCO Member States shall play a pivotal role in combating global challenges such as food and energy security concerns, he said. As part of India's contribution to mitigating these challenges, India's Prime Minister has launched the global Mission 'LIFE' which stands for Lifestyle for Environment. LIFE envisions replacing the prevalent use-and-dispose economy, governed by mindless and destructive consumption, with a circular economy, which would be defined by mindful utilization of resources, he said. The concept of 'Reduce, Reuse and Recycle' and circular economy has been part of the Indian lifestyle for years, and Mission LIFE will encompass every lifestyle related to the conservation of nature which our ancestors adopted and which can be made a part of our lifestyle today, Joshi said. He also appealed that the member countries of the SCO should integrate resilience into infrastructure. India is inclined towards building a sustainable and resilient infrastructure," the senior official said. Resilient infrastructure is not just about the safe transfer of goods and services but it is about the people, households and communities that depend upon these systems as a lifeline, Joshi added. There is a felt need for SCO members to emphasize the need to integrate resilience into infrastructure and ensure access, delivery and continuity of essential services to people and communities facing increasing exposure and impact of disasters and extreme climatic events, he said.
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