Prime Minister Narendra Modi emphasized the imperative for the UN Security Council and other global institutions to evolve in line with the world's evolving dynamics, underlining that failure to do so would lead to obsolescence. At the conclusion of the G20 Summit, he suggested a virtual session in late November to review the discussions and decisions taken during the leaders' summit. During the closing session, Modi passed the gavel to Brazil and conveyed his best wishes for their upcoming presidency, set to commence on December 1.
Brazilian President Luiz Inácio Lula da Silva echoed Modi's call for reforms in global institutions, advocating for the inclusion of new developing countries in both permanent and non-permanent positions within the UN Security Council. He also called for enhanced representation for emerging nations at the World Bank and the IMF, PTI reported.
Speaking at the 'One Future' session, Modi reiterated his plea for reforms in global institutions, emphasizing that current global systems must align with present realities. He highlighted the considerable transformation in various sectors since the UN's establishment, underscoring the need for these changes to be reflected in the global structure.
Modi underscored the emergence and effectiveness of regional groupings in recent years, emphasizing the necessity for contemplation and reform. He lauded the historic move to include the African Union in the G20 as a step towards greater inclusivity.
Furthermore, the Prime Minister proposed expanding the mandate of multilateral development banks and urged prompt and effective decisions in this direction. He expressed confidence in Brazil's ability to lead the G20 with dedication and vision.
In addition to advocating institutional reforms, Modi addressed pressing contemporary issues, such as cybersecurity and cryptocurrencies. He emphasized the need for global standards to regulate cryptocurrencies, considering their impact on social order, monetary stability, and financial systems. Regarding cyberspace, he stressed the importance of international cooperation and frameworks to combat terrorism and secure digital infrastructure.
Recognizing the rapid advancements in new-generation technology, Modi cited Artificial Intelligence (AI) as a prime example. He urged the establishment of a framework for responsible, human-centric AI governance, aiming to ensure that all nations benefit from AI in critical areas like socio-economic development, global workforce, and research.
In his concluding remarks, Modi articulated his vision for a human-centric approach to progress, challenging the prevalent GDP-centric perspective. He highlighted India's willingness to share data from its lunar mission for the collective benefit of humanity. He advocated for a shift from the concept of a "global village" to realizing a "global family," where not only national interests, but also hearts, are aligned.
Modi's call for sustainability and stability resonated in a world characterized by rapid change. He urged a collective effort to empower marginalized communities, emphasizing that this, alongside transformation, is essential for a balanced and prosperous future. In a post on X, Modi reiterated the need for a human-centric approach, particularly in the realm of data and technology, and emphasized the potential of AI for socio-economic development. He affirmed that prioritizing sustainability and stability is the path to empowering marginalized communities.
