‘Global governance has failed’
New Delhi: Prime Minister Narendra Modi during his inaugural address at the G20 Foreign Ministers’ Meeting (FMM) on Thursday, talked about finding the right balance between growth, efficiency and resilience by building ‘consensus’ and believes that G20 can build the consensus to deliver concrete results in all major areas. The Indian prime minister sent out his message via video conference, where he underlined that the summit is taking place at a time of “deep global divisions” and the discussions are affected by geopolitical tensions.
PM Modi stated, “We all have our positions and our perspectives on how these tensions should be resolved.”
In his address, the Prime Minister said multilateralism is in crisis today.
He said, “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 mandates.”
“We must also admit that the tragic consequences of this failure are being faced most of all by the developing countries. After years of progress, we are at risk today of moving back on the Sustainable Development Goals,” he added.
He asserted that 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 urged the participants to draw inspiration from India’s civilizational ethos of focusing not on what divides, but on what unites all.
He further underlined why India chose the theme of ‘One Earth, One Family, One Future’ or ‘Oneness’, for its G20 Presidency- explaining it signals the need for unity of purpose as well as the unity of action. PM Modi also expressed the belief that the foreign ministers’ meeting will reflect the spirit of coming together for achieving common and concrete objectives.
PM Modi also highlighted the broken-down economy, healthcare system and the crisis that the world faced due to pandemic outbreaks and natural disasters and stressed the need to show resilience in respective 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,” PM Modi remarked. He further suggested that this balance can be achieved more easily by working together. He also expressed confidence in the collective wisdom and ability and hoped that the G20 FMM will turn out to be “ambitious, inclusive and action-oriented” where resolutions are made while rising above differences.
The prime minister, at the same time, explained that firstly, it was to prevent future wars by balancing competing interests, and secondly, to foster international cooperation on issues of common interests. Observing the financial crisis, climate change, pandemic, terrorism, and wars in the past few years. He urged the participants- foreign ministers and other representatives that the tragic consequences of war are being faced mostly by all the developing countries and the world is at risk of rescinding sustainable development after years of progress.
“India’s G20 Presidency has tried to give a voice to the Global South,” PM Modi also mentioned.
