India's Call for Multilateral Reform and South-South Cooperation

India strongly advocated for reforms in key multilateral institutions, highlighting their failure to address global challenges. External Affairs Minister S Jaishankar emphasized the need for low-cost financing, equitable digital advancements, and robust economic and climate resilience, urging the Global South to collaborate and press for multilateral reforms during his address at the Voice of the Global South Summit.

India on Saturday intensified its call for vital reforms in major multilateral institutions, stating unequivocally that solutions to global challenges often failed to emanate from these bodies.

At the third India-hosted virtual Voice of the Global South Summit, External Affairs Minister S Jaishankar emphasized the need for facilitating low-cost financing and the transfer of critical technologies to developing countries, highlighting the obsolescence and polarization of current multilateral frameworks.

India has consistently advocated for the modernization of international bodies such as the United Nations, the World Bank, and the IMF to better reflect contemporary global realities. Jaishankar outlined the necessity for economic resilience, climate change adaptation, and digital transformation, calling for a collective push toward equitable solutions during India's G20 presidency.

(With inputs from agencies.)