World is in state of crisis: PM Modi at Voice of Global South summit

The world is in a state of crisis and it is difficult to predict how long this state of instability will last Prime Minister Narendra Modi said on Thursday as he stressed the need for the Global South to escape the cycle of dependency on systems and circumstances which are not of its makingHe also said that in the 21st Century global growth will come from countries of the SouthIn his opening remarks at the Voice of Global South virtual summit PM Modi flagged concerns over rising prices of food fuel and fertilisers economic impact of the COVID19 pandemic as well as natural disasters driven by climate changeWe are meeting as a new year dawns and brings new hopes and new energy PM Modi saidWe have turned the page on another difficult year that saw war conflict terrorism and geopolitical tensions Rising food fertiliser and fuel prices climate changedriven natural disasters and lasting economic impact of the Covid pandemic he saidIt is clear that the world is in a state of crisis It is difficult to predict how long this state of instability will last PM Modi addedAlso Read PM Modi to virtually flag off SecunderabadVisakhapatnam Vande Bharat train on Jan 15 Union MinisterThe prime minister said the need of the hour is to identify simple scalable and sustainable solutions that can transform societies and economiesDespite the challenges the developing world faces I remain optimistic that our time is coming And our time is coming The need of the hour is to identify simple scalable and sustainable solutions that can transform our societies and economies With such an approach we shall overcome the difficult challenges he saidI am confident that together the Global South can produce new and creative ideas These ideas can form the basis of our voice in the G20 and other forums In India we have a prayerit means may noble thoughts come to us from all directions of the universe This Voice of Global South Summit is a collective effort for gaining noble ideas for our collective futures PM Modi saidThe prime minister noted that the Global South has the largest stakes in the future of the worldWe the Global South have the largest stakes in the future Threefourths of humanity lives in our countries We should also have an equivalent voiceHence as the eightdecadeold model of global governance slowly changes we should try to shape the emerging order he saidThe Global South largely refers to countries in Asia Africa and South AmericaThe prime minister said that as India begins its G20 Presidency this year it is natural that our aim is to amplify the voice of the Global SouthIn his closing remarks at the Summit PM Modi said the interventions at the conference brought out the common challenges that are on the top of all our mindsThese mainly concern the lack of resources for our development needs and increasing instability both in the natural climate and the geopolitical climate Despite this it is also clear that we developing countries are full of positive energy full of confidence he saidNoting that in the 20th Century the developed countries were the drivers of the global economy PM Modi said today most of these advanced economies are slowing down Clearly in the 21st Century global growth will come from countries of the South I think that if we work together we can set the global agenda he saidThe Voice of the Global South needs to set its own tone Together we need to escape the cycle of dependency on systems and circumstances which are not of our making the prime minister saidIndia is hosting the twoday summit to bring together countries of the Global South and provide them a common platform to share their common concerns relating to various global challenges including food and energy security triggered by the Ukraine conflictThe theme of the inaugural leaders session is Voice of Global South for HumanCentric Development while the leaders concluding session will be on Unity of VoiceUnity of PurposeThe summit envisages ten sessions out of which four sessions would be held on Thursday while six sessions would take place on Friday Each session is expected to witness the participation of leaders and ministers from 1020 countriesThis story has been sourced from a third party syndicated feed agencies Midday accepts no responsibility or liability for its dependability trustworthiness reliability and data of the text Midday managementmiddaycom reserves the sole right to alter delete or remove without notice the content in its absolute discretion for any reason whatsoever