PM Modi Proposes Global Development Compact at Voice of Global South Summit
New Delhi, India – Prime Minister Narendra Modi proposed a comprehensive ‘Global Development Compact’ at the Voice of Global South Summit. This initiative is based on India’s development journey and aims to address concerns like debt burden and climate change.
Summit Highlights
The Third Voice of Global South Summit, hosted by India, saw participation from 123 countries. External Affairs Minister S. Jaishankar noted that this was the first major plurilateral event of the BJP-led NDA Government in its third term.
Key Proposals
PM Modi announced a special fund of USD 2.5 million to boost trade promotion activities and a fund of one million dollars for training in trade policy and negotiation. He emphasized that the ‘Global Development Compact’ would not burden needy countries with debt and would focus on sustainable development, technology sharing, and concessional finance.
Global Concerns
Leaders raised issues like political interference, the Israel-Hamas conflict, and the Russia-Ukraine war. Jaishankar mentioned that many leaders expressed concerns about terrorism, extremism, and the debt burden.
Future Goals
PM Modi highlighted the need for just and inclusive global governance and called for reforms at the United Nations. He also stressed the importance of affordable generic medicines and support for natural farming.
Conclusion
The Voice of Global South Summit aims to bring together countries to share their perspectives and priorities. The third summit focused on ‘An Empowered Global South for a Sustainable Future’ and included 10 Ministerial Sessions.
Doubts Revealed
PM Modi -: PM Modi is the Prime Minister of India. He is the leader of the Indian government.
Global Development Compact -: A Global Development Compact is a plan or agreement to help countries grow and develop in a way that is good for everyone and doesn’t make poor countries borrow too much money.
Voice of Global South Summit -: The Voice of Global South Summit is a big meeting where countries from the Global South (developing countries) come together to talk about important issues and find ways to help each other.
sustainable development -: Sustainable development means growing and improving in a way that doesn’t harm the environment or use up all the resources, so future generations can also have a good life.
debt -: Debt is money that a country or person owes to someone else. If a country has too much debt, it can be hard for them to pay it back and still take care of their people.
political interference -: Political interference is when one country tries to influence or control the government or politics of another country, which can cause problems.
Israel-Hamas conflict -: The Israel-Hamas conflict is a long-standing fight between Israel, a country, and Hamas, a group in Palestine. They have different views and have been in conflict for many years.
inclusive global governance -: Inclusive global governance means making sure all countries, big or small, rich or poor, have a say in how the world is run and decisions are made.
generic medicines -: Generic medicines are drugs that are not branded and are usually cheaper but work the same way as the more expensive branded ones.
Global South -: The Global South refers to developing countries, mostly in Africa, Latin America, and Asia, that are working to improve their economies and living conditions.
