Srinagar, June 17 -- New Delhi- Prime Minister Narendra Modi on Wednesday proposed a new framework to boost connectivity and trade among G7 nations, India and countries of the Global South, while warning that the ongoing crisis in West Asia could have long-lasting consequences for developing economies.

Addressing an outreach session of the G7 Summit, Modi proposed the creation of the International Mobilisation Partnership for Accelerating Connectivity and Trade (IMPACT), a framework aimed at promoting infrastructure development, trade and economic cooperation across regions.

Drawing inspiration from the India-Middle East-Europe Economic Corridor (IMEC), the Prime Minister said the initiative could support connectivity projects in Africa...