Prime Minister Narendra Modi calls for reforms in global financial institutions, stronger representation for growth-driving economies and a greater role for the Global South in shaping future global rules.
Prime Minister Narendra Modi on Saturday called for a greater role for the Global South in global economic governance, saying voting power, leadership positions and policy priorities in international financial institutions should reflect today’s economic realities.
Speaking at the Brics Summit 2026, Modi said countries that are driving global economic growth should also have an appropriate role in shaping global economic governance.
“Voting power, leadership positions and policy priorities in financial institutions should be in accordance with today’s economic realities,” Modi said.
The Prime Minister also stressed the need for greater responsiveness from global institutions, saying their credibility would depend on their ability to effectively address emerging challenges.
“We need to focus on the speed, scale and last-mile impact of our collective response,” he said. Modi also highlighted the important contribution of seafarers to global trade and proposed the creation of a Seafarers Emergency Support Network.
He said the proposed network could connect maritime authorities and missions of relevant countries to provide assistance during emergencies, including distress alerts, medical assistance, communication with families and evacuation support.
“Seafarers make a huge contribution to global trade but often feel a lack of support during difficult times,” Modi said.
More from BusinessThe Prime Minister further called for equal participation in framing future global rules, particularly in areas such as artificial intelligence, cyberspace, outer space, biotechnology and critical technologies.
He said the Global South must move from being a “rule taker” to a “rule shaper”, ensuring developing economies have a meaningful voice in determining rules for technologies and sectors that will shape the global economy.
Modi’s remarks come amid growing calls for reforms in global economic and financial institutions to better reflect the changing distribution of global economic power.
