India's Call for Global Financial Reform to Aid the Global South

India urges a global effort to reform international financial systems, emphasizing debt sustainability and preventing debt traps for the Global South, which is heavily affected by current crises. Ambassador P Harish highlights India's climate initiatives and stresses empowering vulnerable communities to achieve resilience.

India is advocating for a collaborative international initiative to reform global financial mechanisms to ensure debt sustainability and avoid debt traps for countries in the Global South. This effort comes as these nations face multiple crises, threatening achievements in development and the progression towards Sustainable Development Goals (SDGs).

During the 79th Session of the UN General Assembly, India's Permanent Representative to the UN, Ambassador P Harish, underscored the necessity for global financial reform. He highlighted the need for affordable financial access and addressed inequalities in trade and investment flows, emphasizing the importance of focusing on vulnerable groups to ensure no one is left behind.

Ambassador Harish pointed to India's climate action initiatives, such as the National Green Hydrogen Mission and the International Solar Alliance, as models for the developing world. He also mentioned India's role in advocating for the Global South through several summits, aiming to foster collective interests and actions.

(With inputs from agencies.)