India pushes for an inclusive global financial system, UNSC overhaul
- IBEF
- April 22, 2026
India has called for comprehensive reforms in the global financial architecture and the United Nations Security Council, stressing the need to better reflect the aspirations of the Global South. During the General Debate of the 2026 ECOSOC Forum on Financing for Development at the UN Headquarters, MEA Secretary (West) Mr. Sibi George highlighted structural challenges in development financing. The statement underscored the urgency of building a fair, inclusive and development-oriented global financial system to address the estimated Rs. 375.2 lakh crore (US$ 4 trillion) Sustainable Development Goals (SDG) financing gap. India emphasised that reforming international financial institutions, strengthening the voice of developing nations and leveraging digital public infrastructure are critical to achieving commitments such as the Sevilla agenda.
In parallel, India reiterated its push for long-pending UNSC reforms during the Intergovernmental Negotiations (IGN) meeting, noting that the current structure does not adequately represent developing countries, especially in permanent membership. India advocated for greater representation of the Global South and highlighted similarities between its approach and the African model. Additionally, India reaffirmed its commitment to the United Nations through discussions on peacekeeping with Assistant Secretary-General for the Middle East, Asia and the Pacific in the Departments of Political and Peacebuilding Affairs and Peace Operations Mr. Khaled Khiari. With over 275,000 personnel deployed in UN peacekeeping missions since 1948, India remains one of the largest contributors, reinforcing its role as a key stakeholder in global governance and multilateral cooperation.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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