Summary:

India donated $3.5 million to support developing countries in trade and capacity building, aiming to lead among Global South nations. Prime Minister Narendra Modi announced this pledge during the Voice of Global South event, focusing on a "human-centric" Global Developmental Compact. The plan includes technology transfer and concessional finance, though specific projects and funding modalities were not detailed.

This initiative seeks to help developing countries avoid debt traps by enhancing trade negotiation skills and promoting effective commerce. Concerns raised at the summit, attended by delegates from 18 nations, will be addressed by India at the United Nations Summit of the Future in New York. Dr. S. Jaishankar emphasized the need for collective action to secure financial and technological support for the Global South amidst ongoing conflicts.

Source: IBEF

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