Proposing the creation of a human-centric “Global Development Compact”, PM Narendra Modi called the Voice of the Global South Summit a platform to “give voice to the needs and aspirations of those who have been unheard till now”.
PM announced the launch of the 'Compact,' designed to support needy countries without burdening them with debt.
Principles of the 'Compact': The Compact will draw from India's own development experiences and focus on:
Trade for development
Capacity building for sustainable growth
Technology sharing
Project-specific concessional finance and grants
Funding Initiatives:
A special fund of USD 2.5 million will be established to enhance trade promotion activities.
An additional fund of USD 1 million will also be provided.
The upcoming UN Summit of the Future is a potential milestone for achieving these goals.
Global South:
The Global South includes countries often categorized as developing, less developed, or underdeveloped.
Primarily located in Africa, Asia, and Latin America.
Typically faces higher levels of poverty and income inequality.
Countries may experience more challenging living conditions compared to wealthier nations.
Most of these countries, where 88 per cent of the world population lives, experienced colonial rule and historically lagged in achieving substantial levels of industrialisation.
The Global North consists of wealthier nations, mainly in North America, Europe, and parts of Oceania.
Development: Countries in the Global South often have lower Human Development Index (HDI) scores compared to Global North countries.
The term reflects historical patterns of colonialism and economic disparity.
Economic Challenges: Many Global South countries struggle with issues such as inadequate infrastructure, limited access to education and healthcare, and political instability.
The Brandt Line divides the countries of Global North and the Global South
It was proposed by Willy Brandt in the 1980s.
An imaginary line that divides the world into richer countries (mainly in the Northern Hemisphere) and poorer countries (mostly in the Southern Hemisphere).
The term Global South, thus, denotes political, geopolitical, and economic similarities between nations. Hence, it should not be combined with strict geographical connotations.
For instance, most Asian countries fall under the Global South. Yet, countries such as Israel, South Korea, and Japan are considered part of the Global North because of their higher levels of development.
India as a leader in the Global South
India, having played a significant role in the Non-Aligned Movement and Group-77 developing nations during the Cold War, continues to lead and represent the Global South's interests.
At the 2023 G20 Summit in Delhi, India successfully facilitated the inclusion of the African Union as a permanent member of the bloc, enabling African nations to directly address their economic concerns with major global economies.
During the COVID-19 pandemic, India distributed approximately 163 million vaccine doses to 96 countries through the 'Vaccine Maitri' humanitarian initiative from January 2021 to February 2022.
India's digital public assets, including UPI, RuPay, and India Stack, which benefit a large portion of the Indian population, offer significant potential for driving digital transformation in other developing and emerging nations.
The resurgence of the Global South highlights the need for a more inclusive and responsive global governance framework. Addressing its priorities and advocating for reforms in international institutions will foster a more equitable and effective global order.
