Bishkek, Sep 1: Prime Minister Narendra Modi delivered a strong message against terrorism at the 26th Shanghai Cooperation Organisation (SCO) Summit in Bishkek on Tuesday, calling for dismantling the entire ecosystem of terror financing, recruitment, radicalisation and safe havens, stating that it cannot be used as a “strategic asset for anyone”.

Addressing the 26th Meeting of the Council of Heads of State of the SCO in Kyrgyzstan’s Bishkek on Tuesday, PM Modi stressed that terrorism continues to pose a serious challenge to humanity and asserted that there can be no room for double standards on terrorism.

“Terrorism continues to pose a serious challenge to humanity. In our fight against it, we cannot limit ourselves to a mindset of action and reaction. We must dismantle the entire ecosystem of terrorist financing, recruitment, radicalisation, and safe havens,” the Prime Minister said.

“We must speak with one voice that there can be no room for double standards on this serious issue. Those countries which make terrorism a tool of their policy, provide shelter and support to terrorists, will have to be given a strong message that terrorism cannot be a strategic asset for anyone,” he added.

PM Modi reiterated India’s stance that all wars and conflicts should be resolved through dialogue and diplomacy and not on the battlefield. He said that the conflict in West Asia is not confined to that region and impacts the energy security, maritime trade and supply chains of the whole world.

“In today’s interconnected world, the scope of security has expanded even further. The crisis in West Asia has shown that conflict in one region is not confined to that region. It impacts the entire world’s energy security, maritime trade, and supply chains. Countries in the Global South bear the brunt of this. Therefore, India has been calling for the resolution of all tensions and wars through dialogue and diplomacy, not on the battlefield,” he said.

The Prime Minister flagged drug trafficking as a serious threat to the young generation and regional security. He welcomed the centres being established within the SCO to address challenges like security threats, organised crime, information security, and narcotics as a “positive step” and called for making them effective instruments of practical coordination and timely action.

PM Modi expressed India’s support for efforts to connect markets, facilitate trade and create new pathways for development.

“Another foundation for our shared development is strong and reliable connectivity. India supports all efforts that connect markets, facilitate trade, and open new avenues for development. However, respect for the sovereignty and territorial integrity of all countries is essential in these efforts. This is also the core spirit of the SCO Charter,” he said.

“In the coming times, the scope of connectivity will become even more extensive. Along with roads, railways, and air corridors, we will need to simplify customs processes, promote digital documentation, and make logistics networks more efficient,” he added.

He outlined three main pillars of India’s approach to SCO – Security, Connectivity and Opportunity. He said that cooperation of SCO members should be people-driven and not government-driven and highlighted India’s initiatives taken by India within the SCO.

“Our cooperation in the SCO should be people-driven, not just government-driven. I am pleased that under Kyrgyzstan’s presidency, special emphasis has been placed on youth engagement in the SCO. India has taken initiatives such as the Start-up Forum, the Young Authors’ Conclave, and the Young Scientists’ Forum within the SCO,” he added.

“Last year, India proposed the SCO Civilizational Dialogue Forum. I am pleased that its first session will be held in India this year. I am confident that with your active participation, this Forum will become a powerful platform for vibrant dialogue within the SCO,” he added.

The SCO comprises 10 member states – Belarus, India, Iran, Kazakhstan, China, Kyrgyzstan, Pakistan, Russia, Tajikistan and Uzbekistan. It has two observer states – Azerbaijan and Armenia and 15 dialogue partners – Azerbaijan, Armenia, Egypt, Cambodia, Qatar, Kuwait, Laos, Maldives, Myanmar, Nepal, UAE, Saudi Arabia, Turkey and Sri Lanka.

Asheville, Sep 1: India strongly supports the US G20 presidency’s focus on economic growth, global imbalances and financial literacy, Finance Minister Nirmala Sitharaman has said after holding a “positive, constructive” bilateral meeting with US Treasury Secretary Scott Bessent.

In an exclusive interview with media on the sidelines of the G20 Finance Ministers’ meeting here, FM Sitharaman said New Delhi and Washington shared common ground on the central issues being discussed under the US presidency.

“The US presidency has spoken about growth as a priority. It has spoken about the global imbalances as a concern,” she said.

“The US has also very clearly placed high importance on financial literacy, which is a very personally dear point for the Secretary of Treasury, Scott Bessent,” the Finance Minister said.

“So in all these, we are very much with the United States,” she added.

FM Sitharaman said India wanted G20 members to have candid discussions about the challenges affecting the international economy.

“These are the points on which we also want fair, open discussions,” she said.

“Growth is a central point for the G20’s financial track. Equally, the imbalances, global imbalances will have to be sorted out,” she said.

The Finance Minister welcomed the priorities identified by Washington and said India was making an active contribution to the deliberations in Asheville.

“I appreciate the US presidency in taking up these points, and we’ve been contributing in the discussions which happened today,” she said.

FM Sitharaman also met Bessent during the day for bilateral talks on economic and financial issues.

“I may also add here that I’ve had a very positive, constructive bilateral discussion with Secretary Bessent today,” she said.

She did not disclose specific details of the meeting in the interview. Her remarks, however, indicated broad agreement between India and the United States on the need to place growth at the centre of the G20 financial track and address imbalances in the global economy.

FM Sitharaman held separate bilateral meetings with representatives of Poland, Qatar, South Korea and Russia during the G20 gathering.

“I’ve had bilaterals also with Poland, with Qatar, with Korea, with Russia. All of them happened today, and on a very positive note,” she said.

“Everyone has had facts about India in their hands, and they’re looking forward to deepening their relationship with India,” she added.

The Finance Minister said some of the discussions would be followed by further bilateral economic engagements. A dialogue with South Korea would be held later this year, she said, adding that a dialogue with Qatar would also take place during the year.

“There are quite a few activities that we’ve tied up for India and the bilateral engagement on economy and finance,” she said.

FM Sitharaman’s participation in the G20 meeting comes as India reported economic growth of 7.8 per cent in the first quarter of the 2026-27 financial year. She said manufacturing had grown by 9.2 per cent, while the financial and professional services sector expanded by 12.1 per cent.

The Finance Minister described the figures as evidence of India’s economic resilience despite continuing global challenges. She said the government would work to position India advantageously whenever new challenges emerged.

FM Sitharaman began her overseas visit in Canada, where she held talks with the Canadian Finance Minister. She then travelled to Chicago for discussions with funding agencies before arriving in Asheville for the G20 meeting.

After completing her engagements here, FM Sitharaman is scheduled to travel to New York, where she will meet investors interested in entering the Indian market.

Asheville, Sep 1: India is preparing further customs and banking reforms, including risk-based import screening and a high-level review of the banking sector’s role towards building a developed India, Union Minister for Finance & Corporate Affairs Nirmala Sitharaman said.

In an exclusive interview with media on the sidelines of the G20 Finance Ministers’ meeting here, FM Sitharaman said the next phase would build on changes already made in direct and indirect taxation.

“We’ve done quite a few things about the direct and indirect taxes. Customs, we’ve done some, we’ll have to do more. We’ll be taking those up,” she said.

The government is working to make the movement of imported goods through Indian ports more seamless, the Finance Minister said.

A key proposal involves deploying scanners and concentrating checks on high-risk importers. Other consignments could then be cleared automatically, reducing delays for businesses and easing congestion at ports.

“We are trying to bring in scanners and have high-risk importers alone go through them, and the rest of them can be cleared automatically,” FM Sitharaman said.

“A lot of reforms in the customs area,” she added.

The approach would allow customs authorities to focus their scrutiny on higher-risk imports while facilitating faster clearances in other cases.

However, FM Sitharaman did not provide a timetable for introducing the scanners or implementing the proposed automatic clearance system.

The government has also appointed a high-level committee to examine the banking sector and its future role in achieving India’s development goals.

“The banks, of course, we’ve appointed a high-level committee to look into banking for Viksit Bharat,” she told media.

“That committee will also give its report,” she added, without indicating when its recommendations would be submitted.

Asked about the next stage of the government’s wider reform programme, FM Sitharaman said changes would be taken up as requirements emerged.

“Well, we take it as we go along,” according to her.

The Finance Minister said the Centre had worked with state governments to improve the business environment and reduce the compliance burden on citizens and companies.

“I think together with the states, I will also credit the states, many of them who have come forward to make doing business a bit easier,” she said.

“We, as you know, have reduced a lot of compliance burden on the citizens, whether it is by reforming the Acts, by simplifying the regulations, and also by removing archaic laws,” she added.

More than 1,000 laws had been removed and about 40,000 regulations simplified, according to the Finance Minister.

The government was also maintaining regular consultations with industry, businesses and trade while pursuing bilateral trade and investor protection agreements.

“Constantly, we are engaging with the industry, with businesses, with trade,” FM Sitharaman said.

“Also, the way in which bilateral trade agreements are being signed, we are now pushing ahead with investor protection agreements as well,” she added.

FM Sitharaman said confidence in the Indian banking system was reflected in foreign deposits and investments made by Indians living overseas. The indicators showed a positive story about trust in Indian banks and the country’s macroeconomic position, she said.

The proposed reforms come as India reported 7.8 per cent growth in the first quarter of the 2026-27 financial year. Manufacturing grew by 9.2 per cent, while the financial and professional services sector expanded by 12.1 per cent.

FM Sitharaman also cited the expansion of UPI, NPCI systems and QR-code payments as factors helping small and medium-sized businesses gain access to global markets. She said reforms across government departments and the financial sector had brought out the robustness of the Indian economy.