PM Modi said, "We want a human-centric globalisation." (File)
Prime Minister Narendra Modi on Friday announced that India will establish a Global South Centre of Excellence to undertake research on development solutions for developing countries and called for a human-centric globalisation to address their concerns.
In his opening address at the concluding session of the Voice of Global South virtual summit, PM Modi said the challenges of COVID-19, rising prices of fuel, fertilisers and food grains and increasing geo-political tensions have adversely impacted the developing countries.
He said developing countries desire a globalisation that does not create a climate crisis or debt crisis or does not trigger unequal distribution of vaccines or over concentrated global supply chains.
"We want a human-centric globalisation. We, the developing countries, are concerned about increasing fragmentation of the international landscape," he said.
"These geopolitical tensions distract us from focusing on our development priorities ... To address this geopolitical fragmentation, we urgently need fundamental reform of international organisations including the UN Security Council and Bretton Woods institutions," he added.
Listing various challenges facing developing countries, the prime minister said the last three years have been difficult for them.
PM Modi said India will establish a Global South Centre of Excellence and it will undertake research on "development solutions or best practices of any of our countries which can be scaled up and implemented in other members of the Global South".
The prime minister said the summit has seen participation from more than 120 developing countries.
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