Summary of this article
PM Modi cautions against the “return of massive poverty” if lessons from recent global crises are not learnt.
Describes the past years as a “disaster decade” severely affected by Covid-19 pandemic, wars, and fuel crises.
Stresses the need for strong governance, self-reliance, economic reforms, and global cooperation to protect poverty alleviation gains and build resilience.
Prime Minister Narendra Modi on Saturday cautioned against the risk of a “return of massive poverty” if the world fails to learn from recent global crises, describing the past few years as a “disaster decade” marked by the Covid-19 pandemic, wars, and energy-fuel crises.
Addressing a high-level gathering of policymakers and economists, PM Modi said the combined shocks of the Covid-19 pandemic, ongoing geopolitical conflicts, and sharp spikes in fuel and food prices have severely impacted global stability, especially in developing nations.
“The last decade has truly been a disaster decade. Covid disrupted lives and economies, wars created fresh uncertainties, and fuel crises pushed inflation to dangerous levels,” the Prime Minister remarked.
He expressed concern that without prudent policies, strong governance, and sustained economic reforms, the gains made in poverty alleviation over the past decade could be reversed, leading to a resurgence of widespread poverty.
PM Modi highlighted India’s own experience, noting that timely policy interventions and structural reforms helped the country not only recover from the pandemic but also emerge stronger. He urged global leaders and domestic policymakers to focus on self-reliance, innovation, skill development, and inclusive growth to build resilience against future shocks.
The Prime Minister also called for greater international cooperation on issues like supply chain stability, energy security, and food security to prevent similar crises from pushing vulnerable populations back into poverty.
This strong warning comes amid global economic uncertainties, including fluctuating oil prices due to geopolitical tensions and concerns over slowing growth in several major economies.
