Union Finance Minister Nirmala Sitharaman today said that India is committed to ensuring that the Global South takes on a larger role in shaping global development governance. In her address at the Finance Ministers’ Session of the 3rd Voice of the Global South Summit, Mrs. Sitharaman sought the continued collaboration of participants in deepening their efforts to maximise collective impacts.

She also drew their attention to a pressing challenge that hinders developing economies from achieving their development goals. She said a recent report revealed that the implementation of many Sustainable Development Goals (SDGs) in developing economies is stagnating, with some indicators even regressing. She added that the SDG financing gap is estimated at four trillion US dollars annually for developing countries.