Your Highnesses,

Excellencies,

I express my sincere gratitude for your valuable thoughts and suggestions. You all have highlighted our common concerns and aspirations. Your views clearly show that the Global South is united.

Your suggestions reflect our comprehensive participation. Our discussions today have laid the foundations for going forward with mutual understanding. I am confident that this will provide momentum to achieve our common goals.

Friends,

After listening to all of you today, on behalf of India, I would like to propose a comprehensive "Global Development Compact”. The foundation of this Compact will be based on India's development journey and experiences of development partnership. This Compact will be inspired by the development priorities set by the countries of the Global South themselves.

It will be human-centric, multi-dimensional and promote a multi-sectoral approach to development. It will not put the needy countries under the burden of debt in the name of development finance. It will contribute in balanced and sustainable development of the partner countries.

Friends,

Under this ‘development compact’, we will focus on trade for development, capacity building for sustainable growth, technology sharing, project specific concessional finance and Grants. To boost trade promotion activities, India will launch a special fund of $2.5 million. Training will be provided in trade policy and trade negotiation for capacity building. A fund of one million dollars will be provided for this.

India is contributing to the SDG Stimulus leaders group for financial stress and development funding in countries of the Global South. We will work to make affordable and effective generic medicines available to the Global South. We will also provide support to the training of drug regulators. We will be happy to share our experiences and technology in 'natural farming' in the agriculture sector.

Friends,

You have also raised concerns about tensions and conflicts. This is a serious issue for all of us. Solutions to these concerns depend on just and inclusive global governance, such institutions whose priorities give preference to the Global South, where developed countries also fulfill their responsibilities and commitments, take steps to reduce the gap between the Global North and the Global South. The Summit of the Future at the UN next month could be an important milestone for all of this.

Your Highnesses,

Excellencies,

I once again express my gratitude for your presence and precious thoughts. I am confident that we will continue to raise our voices and share our experiences for the progress of the Global South.

Our teams will discuss all the topics deeply throughout the day today, and we will continue to take this forum forward in the coming times, with the support of all of you.

Thank you very much.

DISCLAIMER - This is the approximate translation of Prime Minister's remarks. Original remarks were delivered in Hindi.

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MJPS/ST