New Delhi: Prime Minister Narendra Modi on Saturday put forward the idea of a broad “Global Development Compact” during the Voice of Global South Summit with its foundation based on India’s development journey and experiences of development partnership as leaders raised their concerns over debt burden, climate change and conveyed their sentiment for reforms at the United Nations.
In his concluding remarks at the Summit, Prime Minister Modi emphasized that the perspectives shared by the leaders demonstrate a strong sense of unity within the Global South. He noted that the discussions had successfully established a foundation for advancing together with mutual understanding.
Voice of Global South Summit: All You Need to Know
The Third Voice of Global South Summit, hosted by India and held virtually, saw the participation of 123 countries. On January 12-13 2023, the first Voice of Global South Summit (VOGSS) was hosted by India. The second Voice of Global South Summit was hosted on November 17, both in virtual format.
In both previous editions of the Summit, more than 100 countries from the Global South participated. The insights and feedback from the leaders of these developing nations were effectively incorporated into the agenda and discussions of the G-20 Summit held under India’s Presidency last year. This was also reflected in the G-20 New Delhi Leaders’ Declaration.
The third VOGSS was held with the overarching theme of “An Empowered Global South for a Sustainable Future”. There were be 10 Ministerial Sessions during the Summit. The Voice of Global South Summit is a unique initiative which began as an extension of PM Modi’s vision of ‘Sabka Saath, Sabka Vikas, Sabka Vishwas aur Sabka Prayas’, and is underpinned by India’s philosophy of Vasudhaiva Kutumbakam. It envisages bringing together countries of the Global South to share their perspectives and priorities on a common platform across a whole range of issues.
Part of our 100-day agenda: External Affairs Minister S Jaishanker
External Affairs Minister S Jaishanker, who addressed a press conference after the Summit, said this is the first plurilateral event, the big plurilateral event of the BJP-led NDA Government in its third term. Jaishanker was quoted as saying by news agency ANI, “It has been part of our 100-day agenda. So we’re delighted that we could get that moving,” he said. The minister said at the level of head of state/head of Government, there were 21 countries. There were 118 Ministers, not counting the Foreign Ministers, and there were 34 Foreign Ministers. There were also five Multilateral Development Banks. “So if you add it all up together, that’s 21 plus 118- 139; plus 34, so 173 plus 5,” he added. PM Modi said to boost trade promotion activities, India will launch a special fund of USD 2.5 million. “Training will be provided in trade policy and trade negotiation for capacity building. A fund of one million dollars will be provided for this.” He said that ‘Global Development Compact’ will not It will not put the needy countries under the burden of debt in the name of development finance.
PM Modi Proposes Global Development Compact At 3RD Voice of The Global South Summit
PM Modi said, “After listening to all of you today, on behalf of India, I would like to propose a comprehensive ‘Global Development Compact’. The foundation of this Compact will be based on India’s development journey and experiences of development partnership. This Compact will be inspired by the development priorities set by the countries of the Global South themselves.”
“It will be human-centric, multi-dimensional and promote a multi-sectoral approach to development. It will not put the 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,” he said.
PM Modi said under this ‘development compact’, “we will focus on trade for development, capacity building for sustainable growth, technology sharing, project specific concessional finance and Grants”. He mentioned that India is actively contributing to the SDG Stimulus Leaders’ Group, which focuses on addressing financial stress and enhancing development funding in countries across the Global South. “We will work to make affordable and effective generic medicines available to the Global South. We will also provide support to the training of drug regulators. We will be happy to share our experiences and technology in ‘natural farming’ in the agriculture sector,” he said, ANI reported.
Addressing the concerns raised by various countries regarding tensions and conflicts, Prime Minister Modi acknowledged the gravity of the issue for everyone involved. He emphasized that resolving these challenges requires fair and inclusive global governance, supported by institutions that prioritize the needs of the Global South. PM Modi said, “Solutions to these concerns depend on just and inclusive global governance, such institutions whose priorities give preference to the Global South, where developed countries also fulfill their responsibilities and commitments, take steps to reduce the gap between the Global North and the Global South. The Summit of the Future at the UN next month could be an important milestone for all of this.”
(With ANI Inputs)
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