Prime Minister Narendra Modi has proposed a new “Global Development Compact” at the Third Voice of Global South Summit, an international event hosted virtually by India. The summit, which saw the participation of 123 countries, focused on addressing concerns such as debt burdens, climate change, and the need for reforms at the United Nations.
In his closing remarks, PM Modi emphasized that the discussions at the summit demonstrated the unity of the Global South, a term used to refer to developing countries. He expressed that the summit laid the groundwork for future cooperation and mutual understanding among these nations.
External Affairs Minister S. Jaishankar, who spoke at a press conference following the summit, highlighted that this was the first major international event organized by the BJP-led NDA government in its third term. He noted that the event was a key part of the government’s 100-day agenda, and its success was a significant achievement.
The summit had high-level participation, with 21 heads of state or government and 118 ministers, including 34 foreign ministers. Additionally, representatives from five Multilateral Development Banks attended the event.
During the summit, PM Modi announced India’s plan to launch a special fund of USD 2.5 million to support trade promotion activities in developing countries. He also revealed a fund of USD 1 million dedicated to providing training in trade policy and negotiation, aimed at building capacity in these nations.
The proposed “Global Development Compact” is designed to be human-centric, multi-dimensional, and multi-sectoral. PM Modi assured that this compact would not impose a debt burden on needy countries in the name of development finance. Instead, it aims to contribute to balanced and sustainable development across the Global South.
Under this compact, India will focus on several key areas: trade for development, capacity building for sustainable growth, technology sharing, concessional finance, and grants for specific projects. PM Modi also mentioned that India is committed to making affordable and effective generic medicines available to the Global South and will support the training of drug regulators. In addition, India is willing to share its experiences and technology in natural farming within the agriculture sector.
Global Concerns and the Call for UN Reforms
PM Modi acknowledged the concerns raised by various countries about global tensions and conflicts. He emphasized that solutions to these issues require just and inclusive global governance, where the priorities of the Global South are considered. The upcoming “Summit of the Future” at the United Nations was mentioned as a crucial milestone for achieving these goals.
Addressing the issue of UN reforms, External Affairs Minister Jaishankar noted the growing sentiment for change. He stressed that it is essential to allow all 190-plus UN member countries to have a say in the future of the organization. The minister emphasized the importance of a democratic approach to decision-making at the UN.
Concerns Over Political Interference and Global Conflicts
During the summit, concerns about political interference by global powers in the domestic affairs of countries were raised. Jaishankar confirmed that several leaders at both the heads of state and foreign ministers’ levels mentioned this issue. He also mentioned that the situation in Gaza was a significant topic of discussion, with many leaders expressing concern over the casualties and calling for a ceasefire.
Additionally, the issue of terrorism and extremism was addressed, with leaders recognizing it as a shared concern among countries of the Global South. The debt burden faced by many developing countries was another critical topic, with leaders discussing the need for more accessible lending options and relief from economic pressures.
Bridging the Digital Divide and Preserving Cultures
Jaishankar also highlighted that technology and connectivity were major concerns for many leaders. There were discussions about the need to bridge the digital divide and enhance physical, energy, and maritime connectivity. Some leaders expressed worries about the preservation of their cultures in the face of climate change and global influences.
The summit concluded with a strong message of inclusivity and equity, calling for a more active role for the Global South in global governance. The discussions at the summit are expected to shape future international cooperation and development efforts, with India playing a central role in these initiatives.
Comments