G20 troika first time with developing world, can amplify voice of Global South: PM Modi

Prime Minister Narendra Modi said this is the first time the troika of G20 is with three members of the Global South - Indonesia, India and Brazil - and this can significantly advance the interests of the developing world. The G20 troika refers to the grouping of three countries based on the previous, current and incoming G20 Presidencies. While India is the current chair of the group of 20 leading economies, the country’s predecessor was Indonesia and its successor will be Brazil. “For the first time in the history of G20, the troika is with the developing world—Indonesia, India, and Brazil. This troika can amplify the voice of the developing world, at a crucial time when there are increased tensions due to global geopolitics,” said PM Modi in an exclusive interview to moneycontrol.com. The Prime Minister stressed that India has been advocating for the Global South and raising their concerns at all multilateral forums including the G20. “These are countries with which we empathise. Since we too are part of the developing world, we understand their aspirations,” he said. “As soon as we became the President of the G20, we held the Voice of Global South Summit, which made it clear that we were a voice for the inclusion of those who felt excluded from the global discourse and institutional priorities,” PM Modi said. As part of its Presidency, PM said India has been supporting agendas that promote a stable, transparent and fair-trade regime that benefits everyone. “The essential role of the multilateral trading system with WTO at its core has been acknowledged while also being committed to working towards necessary reforms, including strengthening WTO rules, restoring the dispute settlement mechanism and concluding new mutually beneficial WTO agreements,” the Prime Minister said. He said India has also been advancing the interests of the developing world, including the interests of nations not represented in the G20, such as the countries of the African Union. “Equitable trade policies are certainly a key area of thrust at the G20, as this directly benefits the whole world in the long term,” said PM Modi. To a question whether G20 has been able to fulfil its mandate, PM said that it would not be right on his part, with India being the President of the G20 right now, to do an evaluation of the G20’s journey over the years. “I think it is a good question which needs a larger exercise to arrive at the answer. Soon, the G20 will be nearing 25 years of establishment. Such a milestone is a good opportunity to evaluate what objectives the G20 set out with and how far it has been able to achieve them. Such introspection is a necessity for every institution. It would have been wonderful if the UN had undertaken such an exercise when it turned 75 years old,” said the Prime Minister. “Coming back to the G20, it would also be a good idea to seek the views of nations outside the G20, especially from the Global South, when it reaches the milestone of 25 years. Such inputs would be very valuable to chart the future course for the next 25 years,” he added. The PM said that there are many countries, academic institutions, financial institutions and civil society organisations that continuously interact with the G20, provide ideas and inputs, and also convey expectations. “Expectations are built only where there is a track record of delivery and there is trust that something will be accomplished,” said PM Modi. “India, too, has been active in this forum even before becoming G20 President. From terrorism to black money, from supply chain resilience to climate-conscious growth, we have made important contributions to the evolving discussions and actions over the years. There have also been appreciable developments in global cooperation on these issues after they were raised at G20. Of course, there is always scope for improvement, such as greater involvement of the Global South, and a bigger role for Africa, amongst others. These are the areas that India is working on, during its G20 Presidency,” he added.