New Delhi: Prime Minister Narendra Modi today addressed G20 Foreign Ministers’ Meeting in New Delhi where foreign ministers from the world’s largest industrialised and developing nations were present. While addressing the foreign minister PM Modi called for unity and strong action to end cross-border terrorism.
“We must all acknowledge that multilateralism is in crisis today. The architecture of the global governance created after the Second world war was to prevent future wars by balancing competing interests and second to foster international cooperation on issues of common interest,” PM Modi said.
“In the last few years, financial crises, climate change, pandemic, terrorism and war clearly show that global governance has failed in both its mandates. We must also admit that the tragic consequences of this failure are being faced most by developing countries,” the PM added.
He said that multilateral institutions had failed to meet the world’s most pressing challenges while opening the G20 foreign ministers’ meeting in New Delhi.
“The experience of the last few years -– financial crisis, climate change, pandemic, terrorism and wars — clearly shows that global governance has failed,” PM Modi said.
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The PM further asserted that 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.
G20 Foreign Ministers’ Meet
Around 40 delegations participated in the meeting at the Rashtrapati Bhavan Cultural Center in the national capital. Foreign Secretary Vinay Mohan Kwatra has said that the Russia-Ukraine conflict will be an important part of the deliberations.
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The foreign ministers are also likely to discuss ways to deal with falling economic growth, increasing inflation, lower demands for goods and services as well as increasing prices of food, fuel and fertilisers. However, the major flashpoint between the West and the Russia-China combine is expected to be the Ukraine conflict.
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The G20 is an intergovernmental forum of the world’s major developed and developing economies. The members represent around 85 per cent of the global GDP, over 75 per cent of the global trade, and about two-thirds of the world population.
