PM plan to spur growth of Global South

India's 'Global Development Compact' initiative will focus on trade, technology sharing and concessional financing

- YESHI SELI

THE world leaders, who took part in the third Voice of Global South Summit on Saturday expressed concerns over the prevailing tensions and conflicts around the globe and their impact on the developing countries. They called for unity among the Global South partners to meet the aspirations of the member countries, comprising two-third of the humanity.

Prime Minister Narendra Modi anchored the summit virtually on Saturday.

Global South is a socio-economic-and-politics based grouping of countries, which includes Africa, Latin America and the Caribbean, Asia (excluding Israel, Japan and South Korea) and Oceania (excluding Australia and New Zealand).

Speaking at the summit, Prime Minister Modi said that solutions to concerns over global uncertainties depend on a 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 in September could be an important milestone towards this, the PM added.