Prime Minister Modi assured India’s full support to Brazil in its push to achieve shared goals of G20 members
Prime Minister Narendra Modi on Sunday handed over the gavel to Brazilian President Luiz Inacio Lula da Silva--marking the ceremonial transfer of the G20 presidency to Brasilia.
 
“We will provide our full support to Brazil and are confident that under its leadership, the G20 will further push our shared goals. I convey my heartiest congratulations to the President of Brazil and my friend Lula da Silva and hand over the gavel of the presidency to him,” Prime Minister Modi said.
 
The Prime Minister also announced holding a virtual session of the G20 Summit at the end of November this year to review the topics decided during the group’s meeting in New Delhi. In this regard Indian officials will share the details with all member countries, he said.
 
Earlier, at session three of the G20 Summit, the Prime Minister highlighted discussions held during ‘One Earth, One Family’ session on Saturday.
 
“Yesterday, we had wide-ranging discussions in the 'One Earth, One Family' sessions. I am satisfied that today the G20 has become a platform for optimistic efforts regarding the vision of One Earth, One Family, One Future,” PM Modi said.
 
Human centric approach and inclusiveness
 
The Prime Minister said efforts have been made to take a human centric approach instead of GDP centric move. “Today, many countries like India have so much that we are sharing with the world. India has used the data of Chandrayaan Mission in the interest of humanity. We have talked about sharing it with everyone. This is also a proof of our commitment towards human centric growth,” Prime Minister Modi said.
 
Emphasizing that India has used technology for inclusive development and last mile delivery, the Prime Minister said, “In our smallest villages, even the smallest merchants are making digital payments. I am happy that under India’s chairmanship, a strong framework for Digital Public Infrastructure has been agreed upon. Similarly, the G20 Principles on Harnessing Data for Development has also been accepted.”
 
Launch of ‘Data for Development Capacity Building Initiative’ for the development of Global South and formation of ‘Startup 20 Engagement Group’ during the presidency of India is also a big step, he said.
 
Prime Minister Modi said the world is today witnessing an unimaginable development--both in scale and speed in the field of new generation technology. “The example of Artificial Intelligence is in front of us. In 2019, the G20 adopted ‘Principles on AI.’ Today, we need to go one step further,” he said.
 
The Prime Minister advocated for the creation of a framework for a responsible human-centric AI governance. “It will be our endeavour that benefits of AI in the areas like socio-economic development, global workforce and R&D should reach all countries,” Prime Minister Modi underlined.
 
Reform of global systems  
 
Raising the issue related with the UNSC reform, he said that to take the world towards a better future, it is necessary that the global systems should be in sync with the present realities. “When the UN was established, it was a completely different situation. At that time there were 51 founding members in the UN. Today, the number of countries in the UN is around 200. Despite this, the number of permanent members in the UNSC is still the same,” PM Modi said.
 
To maintain its relevance, it is necessary for every global organisation to reform and “with this in mind, yesterday, we took the historic initiative of making the African Union a permanent member of the G20. Similarly, we also need to expand the mandate of multilateral development banks. Our decisions in this direction should be immediate and also effective,” the Prime Minister said.
 
“In a rapidly changing world, we need sustainability and stability along with transformation. Come! Let us pledge that we will take resolutions of the Green Development Pact, Action Plan on SDGs, High level Principles on Anti-corruption, Digital Public Infrastructure, and MDB Reforms to fruition,” he added.
 
Need for regulations of crypto currencies  
 
The Prime Minister also highlighted challenges faced by the world on cyber security and crypto-currency. “We have to develop global standards to regulate crypto-currencies. We have the Basel standards on bank regulation in front of us as a model,” PM Modi said.