Prime Minister Narendra Modi emphasized the need for the expansion of the United Nations Security Council (UNSC) and reforms in global institutions to align with the “new realities” of the world as the G20 summit concluded with praise from the US, Russia, and France for India’s leadership.
During the ceremonial handover of the G20 presidency to Brazilian President Luiz Inácio Lula da Silva, Modi highlighted the importance of granting permanent and non-permanent UNSC membership to new developing countries. He also called for greater representation of emerging economies in institutions like the World Bank and the IMF.
Modi proposed a virtual G20 session in late November to review suggestions and decisions made by major developed and developing nations during the summit, which saw the inclusion of the 55-country African Union as a permanent member.
The New Delhi Leaders’ Declaration addressed the Russia-Ukraine conflict, marking a diplomatic success for India. The Declaration emphasized respecting territorial integrity and sovereignty without explicitly mentioning the invasion.
US President Joe Biden praised the G20’s ability to address pressing global challenges amidst climate crises and conflicts, highlighting the summit’s relevance.
Russian Foreign Minister Sergey Lavrov termed the summit a “breakthrough,” showcasing pathways for global progress and underscoring the importance of the Global South.
French President Emmanuel Macron commended India’s role as G20 president, especially in the current fragmented global environment.
Modi emphasized the need for global institutions to adapt to contemporary realities, including reforming the UNSC. He highlighted the disparity between the UN’s founding and present membership, advocating for changes in global structures.
Modi also addressed cybersecurity and cryptocurrencies, urging the development of global regulations for cryptocurrencies and cooperation to secure cyberspace. He emphasized the importance of unity and global family values.
Overall, the G20 summit concluded with a commitment to addressing global challenges through cooperation and joint action. The next summit is scheduled to be held in Rio de Janeiro in November 2024.