G20 Foreign Ministers' Meet: PM Modi says 'global governance has failed, multilateralism in crisis'

In his opening address at the G20 Foreign ministers meeting underway at Rashtrapati Bhawan here, the Prime Minister said, "Many developing countries are struggling with unsustainable debt while trying to ensure food and energy security for their people. They are also the ones most affected by global warming caused by richer countries".

New Delhi:Highlighting that India’s G20 Presidency has tried to give a voice to the Global South, Prime Minister Narendra Modi on Thursday said that multilateralism is in "crisis" today and global governance has "failed" in the last two years. The Prime Minister said that no group can claim global leadership without listening to those most affected by its decisions.

In his opening address at the G20 Foreign ministers meeting underway at Rashtrapati Bhawan here, the Prime Minister said, "Many developing countries are struggling with unsustainable debt while trying to ensure food and energy security for their people. They are also the ones most affected by global warming caused by richer countries".

"This is why India’s G20 Presidency has tried to give a voice to the Global South. No group can claim global leadership without listening to those most affected by its decisions," said PM Modi. He noted that the world looks upon the G20 to ease the challenges of growth, development, economic resilience, financial stability, corruption, terrorism, and food and energy security.

"As the leading economies, we also have a responsibility towards those who are not in this room," the PM said. India has selected the theme of ‘One Earth, One Family, One Future’ for its G20 Presidency. It signals the need for unity of purpose and unity of action, he reiterated, adding that there is a need to acknowledge that multilateralism is in crisis today and that the architecture of global governance, created after the Second World War, was to serve two functions- first, to prevent future wars by balancing competing interests and Second, to foster international cooperation on issues of common interests.

"The experience of the last few years – financial crisis, climate change, pandemic, terrorism, and wars – clearly shows that global governance has failed in both its mandates," added PM Modi. He further emphasized that the G20 has a critical role to play in finding the right balance between growth and efficiency on one hand, and resilience on the other.

"We can reach this balance more easily by working together. That is why your meeting is important," he said. The G20 Foreign ministers meeting is the second ministerial meeting held under India's Presidency. As many as 40 delegations are participating in the meeting. It is the largest gathering of foreign ministers under India's G20 presidency.

The meeting includes two sessions. The first session will focus on multilateralism, and issues related to food and energy, and the second session will focus on four or five key issues including new and emerging threats including counter-terrorism and narcotics, global skill mapping, and focus on global talent pools. Later in the evening, PM Modi will call on all the visiting Foreign ministers including Chinese Foreign Minister Qin Gang.