Banks, rupee should be key in global trade: PM

NEW DELHI: India needs to focus on making its financial system and currency a more integral part of the international trade and supply chain, Prime Minister Narendra Modi said on Monday, inaugurating a series of events over the week to mark the government’s “Azadi ka Amrit Mahotsav” campaign. The campaign is meant to showcase the government’s efforts and outline longer-term objectives and initiatives in the run-up to India celebrating its 75 years of Independence next year. Modi, in keeping with the theme, highlighted the financial inclusion programmes and said that these must be popularised further.

“Focus is also necessary on how our banks, our currency become comprehensive part of international supply chain, international trade,” the PM said.

In the last eight years, Modi said, India has shown that if it collectively decides to do something, the country “becomes a new hope for the world”.

At an event to mark ‘Azadi ka Amrit Mahotsav’ campaign, Modi called for expansion of financial inclusion programmes

One-stop digital portal: ‘Increased public participation’:

“Efforts should be made so that the financial solutions, which have been prepared for India, should now also provide solutions to citizens of other countries of the world,” he added.

The PM also reiterated a statement he made recently, identifying India as a key player in efforts to solve global issues. “Today, the world is looking at us not just as a big consumer market but looking at us with hope and confidence as a capable, game-changing, creative, innovative ecosystem,” he added.

Modi’s comments come at a time when the international trade order has been disrupted by the Russian invasion of Ukraine, with sanctions by Western nations disrupting typical payment frameworks and routes, forcing India, among