PM Modi Proposes 'Global Development Compact' for Global South

Prime Minister Narendra Modi proposed a comprehensive 'Global Development Compact' aimed at driving trade, sustainable growth, technology sharing, and development financing for the Global South. Highlighting a multi-dimensional approach, Modi stressed debt-free development for needy countries. India will also support with training and financial aid.

Prime Minister Narendra Modi has unveiled a comprehensive 'Global Development Compact' focused on fostering trade, sustainable growth, technology sharing, and concessional project financing for the Global South.

Speaking at the third virtual Voice of the Global South Summit, Modi emphasized that this compact will prioritize human-centric, balanced, and sustainable development without burdening needy nations with debt.

India will contribute USD 2.5 million to promote trade activities and provide training in trade policy. The initiative also includes support for achieving SDGs and making generic medicines accessible to the Global South.

(With inputs from agencies.)