New Delhi|July,6: At the 17th Brics Summit in Rio de Janeiro, Prime Minister Narendra Modi called for significant reforms in global governance to enhance the representation of the Global South in decision-making processes. Addressing the 17th Brics Summit in Rio de Janeiro, Prime Minister said that two-thirds of the global population is inadequately represented in institutions established in the 20th century, which undermines their credibility and effectiveness. Modi emphasized that the Global South has been marginalized and often faces double standards in international relations, particularly regarding development, resource distribution, and security issues.
The summit’s theme, “Strengthening Global South Cooperation for More Inclusive and Sustainable Governance,” aligns with Brazil’s priorities as the current chair. It is expected to result in high-level declarations on climate finance and artificial intelligence governance, along with discussions on increasing the use of national currencies in intra-Brics trade. Modi criticized existing global institutions for their inability to address contemporary challenges such as conflicts, pandemics, and economic crises, arguing that they need to be updated to meet 21st-century demands.
He highlighted Brics as a symbol of adaptability and inclusivity, noting its recent expansion to include new member countries, which reflects its capacity to evolve. Modi stressed the need for similar reform efforts in institutions like the UN Security Council and the World Trade Organization. The expanded Brics now represents nearly half of the global population and a significant portion of global GDP and trade. Notably, Chinese President Xi Jinping and Russian President Vladimir Putin were absent from the summit, while India is set to take over the Brics presidency next year.
