PM Modi urges Global South to unite, speak in one voice

While citing the global atmosphere of uncertainty and challenges posed by war, including concerns related to food and energy security, PM Narendra Modi appealed to the Global South to unite, speak in one voice and become each other’s strength. Addressing the third Global South Summit India hosted virtually last week, Modi said terrorism, extremism and separatism continued to pose serious threats to societies.
After having listened to participating leaders from over 120 countries, Modi proposed a ‘Global Development Compact’ that will be “human centric, multi-dimensional” and, amid concerns over Chinese lending practices, not put needy countries under the burden of debt in the name of development finance. It will contribute in balanced and sustainable development of the partner countries, said Modi.
“Under this ‘Development Compact’, we will focus on trade for development, capacity building for sustainable growth, technology sharing, project specific concessional finance and grants. To boost trade promotion activities, India will launch a special fund of $2.5 million,” he said.
Describing concerns about conflicts as a serious issue, Modi said solutions to these will depend on just and inclusive global governance, such institutions whose priorities give preference to the Global South, where developed countries fulfil their responsibilities and take steps to reduce the gap between Global North and South.
The PM said earlier in his opening remarks that the technology divide and technology-related new economic and social challenges were also emerging. Looking to drive home India’s point about the need for reforms of the UNSC and other global and financial institutions, Modi also said these had failed to meet the challenges of this century.
India is committed to sharing its experiences, its capabilities with countries of Global South and wants to promote mutual trade, inclusive growth, progress of Sustainable Development Goals, and women led development, he said.