Participating in the Finance Ministers’ Session of the 2nd Voice of Global South Summit, Ajay Seth, Secretary at the Department of Economic Affairs, emphasized India’s commitment to sharing technical capabilities and knowledge resources to empower the Global South. Quoting Prime Minister Modi, Seth mentioned that India’s G20 priorities would be shaped in consultation not only with G20 partners but also with fellow Global South nations.
Highlighting the significance of the Global South as the largest group of nations, Seth stated, “The decisions we make hold immense significance.” He noted that during India’s G20 presidency, the African Union, a substantial part of the Global South, gained G20 membership, providing a platform for their participation in global decisions.
Seth highlighted India’s advocacy for strengthening Multilateral Development Banks (MDBs) during its G20 Presidency. The triple agenda recommended in the G20 Independent Expert Group’s report aimed at addressing global challenges, eliminating poverty, fostering shared prosperity, tripling sustainable lending by 2030, and enhancing financial strength.
The Voice of the Global South 2.0 Summit brought together finance ministers and dignitaries from various nations to discuss “Financing People-Centric Development.” The participants exchanged views on MDB reforms, resolving debt vulnerabilities, advancing financial inclusion, and scaling up financing for SDGs.
Prime Minister Narendra Modi, during the inaugural session, emphasized the growing voice of the Global South, stating, “Geographically, the Global South has always existed, but it is getting a voice for the first time, and this is because of the joint efforts.” The summit, conducted in a virtual mode, aims to address global issues and foster collaboration among Global South nations.
