India statement by Secretary (West) at the Annual Ministerial Meeting of G77

by Rahul Devi

The G77 Summit recently concluded in Havana, Cuba, and it was a resounding success. The host country, Cuba, was commended for its efforts in organizing the Summit and convening the Ministerial Meeting. This important gathering marked the end of a hectic High-Level Week, which included the SDG Summit, the High-Level Dialogue on Financing for Development, the Climate Ambition Summit, and preparations for the State of the Future.

The discussions and outcomes of the Summit align with the initiatives that India, as the current President of the G20, has been pursuing. A notable achievement during India’s presidency was the inclusion of the African Union as a permanent member of the G20. This decision acknowledges the growing influence and significance of the African continent in global economic and financial matters, representing a significant milestone for the Global South.

The call for a united front among G77 members began earlier this year with the Voice of the Global South Summit, attended by 125 countries. This summit provided the direction for India’s G20 Presidency, with 32 out of the 87 deliverables from the G20 Summit benefiting the Global South.

India has undertaken various key initiatives in finance, climate action, health, and energy that will positively impact the G77 membership. In terms of finance, the G20 has agreed to enhance the operating models of Multilateral Development Banks (MDBs), making them more efficient, responsive, and accessible. Additionally, financing capacity for development impact will be substantially increased.

There is a growing momentum within the G20 to scale up investment and climate finance. Developed countries are expected to meet the USD 100 billion climate finance goal per year for the first time in 2023. Moreover, ambitious, transparent, and trackable New Collective Quantified Goals (NCQG) for climate finance will be finalized in 2024.

In the area of health, the Global Initiative on Digital Health (GIDH) was launched in Gandhinagar last month. It aims to develop a WHO-managed network for standards-based digital health transformation, bringing together global expertise in digital health. Additionally, the role of evidence-based Traditional and Complementary Medicine (T&CM) in health has been recognized, leading to the first-ever Global Traditional Medicine Summit this year.

Regarding energy, the G20 has introduced High-Level Voluntary Principles on Hydrogen. This initiative aims to drive the production, utilization, and global trade of hydrogen produced from zero and low emission technologies. It also aims to decarbonize hard-to-abate sectors and contribute to global net zero greenhouse gas emissions. Furthermore, a Green Hydrogen Innovation Centre is set to be established at the International Solar Alliance. The Global Biofuel Alliance will also facilitate the uptake of sustainable biofuels worldwide by advancing technology, setting robust standards, and involving various stakeholders.

These initiatives are just a few examples of India’s efforts towards a more inclusive global economic order. India is committed to continuing this work with its partners within the G77. The country expresses gratitude to all the distinguished members of G77 and looks forward to further collaboration in the future.

In conclusion, the G77 Summit in Havana was a significant milestone for global cooperation, with India playing a crucial role in promoting the interests of the Global South. The outcomes and initiatives discussed during the Summit pave the way for a more equitable and sustainable global economic order.

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