Prime Minister Narendra Modi Proposes Human-Centric Global Development Compact to Accelerate Growth in the Global South

Prime Minister Narendra Modi today called on nations of the Global South to unite and support one another during the 3rd Voice of the Global South virtual Summit. In his opening remarks, he voiced concerns over the current global landscape, highlighting how ongoing uncertainties and challenges, including the lingering effects of the COVID-19 pandemic, continue to affect these nations’ development trajectories. Modi emphasized the need for unity among the Global South countries, stressing that together, they could become each other’s strength.

He further addressed the significant challenges posed by climate change, which have impacted various sectors across the Global South, particularly in areas like food, health, and energy security. Modi noted that while these countries are still grappling with the pandemic’s aftershocks, conflicts across the world have exacerbated their already precarious situations. Climate change remains a looming threat, worsening food and health security concerns, while the global energy crisis has created additional hurdles.

Additionally, Prime Minister Modi expressed his concerns about the rise of terrorism, extremism, and separatism, which continue to pose significant risks to societies across the Global South. He also highlighted the deepening technology divide, which has brought forth new social and economic challenges, especially as emerging technologies begin to shape economies and governance structures. Modi stressed that these countries need to work together to ensure that they are not left behind in the global technological race.

Underscoring India’s commitment to the Global South, Modi assured that New Delhi is fully dedicated to sharing its experiences, capabilities, and resources with partner countries. India has been actively promoting trade, fostering inclusive development, and making significant progress towards achieving the Sustainable Development Goals (SDGs). Modi emphasized that India’s development journey, including its focus on women-led development, could serve as a model for many other countries in the Global South.

Modi pointed out that cooperation among Global South nations has strengthened in recent years, with significant strides made in areas like infrastructure development, digital advancements, and energy connectivity. He highlighted India’s initiatives under Mission LiFE, where India is prioritizing rooftop solar energy and renewable power generation. This mission, he noted, extends beyond India’s borders, benefiting partner countries across the Global South as well.

One of the critical initiatives Modi discussed was the Unified Payments Interface (UPI), which has revolutionized digital transactions in India. He proposed extending this technology to other Global South nations, ensuring that financial inclusion and economic empowerment reach the most marginalized populations in these countries.

In the field of education and capacity building, Modi said India has made significant progress in partnering with Global South countries. Initiatives like the Global South Young Diplomat Forum and the Global South Excellence Centre are focused on capacity building, skilling, and knowledge sharing. These efforts, he argued, are helping to bridge gaps in education and professional development, ensuring that youth from the Global South have access to opportunities for growth and empowerment.

During his speech, Modi lauded the role of Digital Public Infrastructure (DPI) in driving inclusive growth. He pointed out that during India’s G20 Presidency, the establishment of the Global DPI Depository marked the first multilateral consensus on DPI. This milestone, he argued, is a significant step towards building a more inclusive global economy where digital advancements can drive equitable growth across the Global South.

Modi further announced that India had established a Social Impact Fund, aimed at accelerating progress in Digital Public Infrastructure (DPI) across the Global South. To kickstart this fund, India has committed an initial contribution of 25 million dollars. This fund, Modi explained, is a testament to India’s dedication to supporting its partner countries in building resilient and inclusive economies.

Addressing the critical issue of health security, Modi reiterated India’s commitment to the “One World-One Health” mission and the “Arogya Maitri” vision. He explained that through these initiatives, India has supported Global South nations by collaborating on building hospitals, supplying dialysis machines, providing life-saving medicines, and establishing Jan Aushadhi Centers in African and Pacific Island countries. These initiatives, Modi noted, have been crucial in strengthening health systems across the Global South, particularly in times of crisis.

Modi also highlighted India’s role as a first responder during humanitarian crises. Whether responding to natural disasters or other emergencies, India has consistently stepped up to assist friendly nations, demonstrating its commitment to global solidarity and cooperation.

In his closing remarks, Prime Minister Modi expressed confidence that the discussions held during the Summit would pave the way for a more united and empowered Global South. He proposed a comprehensive Global Development Compact on behalf of India, which would be based on India’s own development journey and its experiences with development partnerships. This compact, Modi explained, would serve as a blueprint for collective growth, ensuring that the Global South can achieve sustainable and inclusive development.

To further bolster trade promotion activities, Modi announced that India would provide a 2.5 million dollar fund. Additionally, India will contribute 1 million dollars towards capacity building in trade policy and trade negotiations. These funds, Modi argued, will help Global South nations build stronger trade relationships and create more resilient economies.

The Global South Summit, Modi noted, serves as a crucial platform for addressing the complex challenges faced by these nations. From conflict and climate change to food and energy security crises, the Summit provides an opportunity for countries of the Global South to come together, discuss their priorities, and explore solutions that can drive sustainable development. The theme of this year’s Summit, “An Empowered Global South for a Sustainable Future,” reflects the shared commitment to building a more just and equitable world.

Modi’s call to action is clear: by working together, the nations of the Global South can overcome their shared challenges and build a brighter, more sustainable future for all. Through initiatives like the Global Development Compact and India’s various contributions, Modi emphasized that the Global South is well on its way to achieving its goals and creating a more prosperous future for its people.

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