PM Modi called for close cooperation among Global South countries to tackle crises threatening food and energy security and to fight terrorism, in the light of global uncertainties.
Modiji declared, in his inaugural address while virtually hosting the third edition of the Voice of Global South Summit, that India will contribute an initial sum of USD 25 million to the 'Social Impact Fund'. This fund shall make its valuable contribution towards the development of Digital Public Infrastructure in all countries across the Global South umbrella.
Modi said that the country remained committed to sharing its resources with developing nations for mutual trade, promoting inclusive growth, and attaining sustainable development goals.
He added that the "atmosphere of uncertainty" persists across the world, as the consequences of COVID-19 were yet to subside and new development challenges are arising from ongoing conflicts.
"We are already facing the challenges of climate change, and now there are also concerns about health security, food security, and energy security," he said.
"Terrorism, extremism and separatism remain serious threats to our societies. Technology divide and new economic and social challenges related to technology are also emerging," the prime minister said.
The Prime Minister said that terrorism, extremism, and separatism have not yet been overcome, adding that emerging technology divides and new economic and social problems brought about by technological progress are also looming.
He added that global governance and financial institutions established in the last century are incompetent in dealing with today's problems.
"It is the need of the hour that countries of the Global South come together, stand united in one voice, and each become a strength for other nations. Let us learn from each other's experiences."
"Let us share our capabilities. Let us together take our resolutions to fruition. Let us together get recognition for two-thirds of humanity," Modi said.
He appealed for common capabilities and collective action that must secure recognition for most of humanity.
India has, in the recent past, emerged as the most vocal champion for the Global South, especially Africa. Last year, while presiding over the G20, India was keen on injecting issues like inclusive growth, digital innovation, climate resilience, and equitable access to global health into the plan, which would go a long way in serving the Global South.
Modi also referred to the role of collaboration in DPI—Digital Public Infrastructure. "The contribution of Digital Public Infrastructure that is DPI in inclusive development is no less than a revolution. The Global DPI Repository, created under our G-20 presidency, was the first-ever multilateral consensus on DPI," he said.
He expressed satisfaction over the agreements reached for sharing the 'India Stack' with 12 Global South partners and announced the creation of a Social Impact Fund to accelerate DPI in these nations, to which India will contribute USD 25 million.
Modi listed various frameworks on cooperation with the Global South, including cooperation on infrastructure, digital, and energy connectivity.
"Under mission LiFE, we are prioritizing roof-top solar and renewable power generation not only in India but also in partner countries. We shared our experience on financial inclusion and last-mile delivery," Modi said.
India also worked on connecting Global South nations through Unified Payments Interface and did some excellent work in Education, Capacity building, and Skills development.
The Mission LiFE, or Lifestyle For Environment, is an India-led initiative that aims to encourage protection and preservation of the environment.
Modi said that during its presidency of the G20, India attached much importance to the Global South. The Voice of Global South Summit provided an opportunity for open discussion of development-related issues.
"In 2022, when India assumed the G-20 presidency, we had resolved to give a new shape to the G-20. The Voice of Global South Summit became a platform where we openly discussed the problems and priorities relating to development," he said.
He narrated how the G20 agenda had been influenced by the hopes and priorities of the Global South and how the focus of the group had turned to be inclusive and developmental in nature. He referred to the historic event of the African Union as a permanent member into the G20—this was the first time the bloc has ever expanded since its formation in 1999.
"The Voice of the Global South Summit is a platform where we are giving voice to the requirements and aspirations of those who have been unheard till now. I believe that our strength lies in our unity, and with the power of this unity we are moving toward a new direction," Modi said.
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