New Delhi: On March 2, Prime Minister Narendra Modi while addressing the opening meeting of Foreign Ministers of G20 in New Delhi, said that it should be acknowledged that it is a time of “deep global divisions” and that “multilateralism is in crisis”.
In his recorded video message, the Prime Minister said that the G20 has the capacity to build consensus and deliver concrete results.
Also, he said that several developing countries are “struggling with unsustainable debt” while trying to ensure food and energy security for their citizens.
“The world looks upon the G20 to ease the challenges of growth, development, economic resilience, disaster resilience, financial stability, transnational crime, corruption, terrorism, and food and energy security,” PM Modi added.
He said India’s G20 Presidency has tried to give a voice to the Global South.
Moreover, “After years of progress, we are at risk today of moving back on the Sustainable Development Goals. Many developing countries are struggling with unsustainable debt while trying to ensure food and energy security for their people. They are also the ones most affected by global warming caused by richer countries. This is why India’s G20 Presidency tried to give a voice to the Global South. No group can claim global leadership without listening to those most affected by its decisions,” said the Prime Minister.
Acknowledging that multilateralism is in a State of crisis in the world today, the Prime Minister pointed out the two main functions that were meant to be served by the architecture of Global Governance created after the Second World War have failed.
Further PM said that, “The architecture of global governance, created after the Second World War, was meant to serve two functions. First, to prevent future wars by balancing competing interests. Second, to foster international cooperation on issues of common interest. The experience of the last few years – Financial crisis, climate change, pandemic, terrorism, and wars – clearly shows that global governance has failed in both its mandate”.
He emphasised that resolutions for issues that cannot be addressed together should not come in the way of those that can be resolved.
PM Modi urged the excellences to draw inspiration from India’s civilisational ethos of focusing not on what divides us but on what unites us all, underlining that the meeting is taking place in the land of Gandhi and the Buddha.
Throwing light on the thousands of lives lost in natural disasters and the disastrous pandemic that the world faced, the Prime Minister noted how global supply chains have broken down during times of stress and turmoil.
Notably, the G20 FMM began with a minute of silence, observed for Turkey’s earthquake victims.
Observing that stable economies were suddenly overwhelmed by debt and financial crisis, the Prime Minister stressed the need to show resilience in our societies, economies, healthcare systems and in infrastructure.
“The G20 has a critical role to play in finding the right balance between growth and efficiency on one hand and resilience on the other,” the Prime Minister remarked.
He suggested that this balance can be achieved more easily by working together. The Prime Minister concluded expressing confidence in the collective wisdom and ability and hoped that today’s meeting would turn out to be ambitious, inclusive and action-oriented where resolutions are made while rising above differences.
(with inputs from ANI)