Prime Minister on Friday said that in a global environment, where "increasing geopolitical tensions have put immense pressure on global governance," there is increased responsibility on world powers like India, China and Russia to maintain multilateralism and emphasise on respecting and implementing international laws.
Addressing the Russia-India-China (RIC) Informal Summit on the sidelines of the G20 Summit here, Prime Minister Modi thanked Russian President Vladimir Putin for taking the initiative to organise the summit, saying that it gives an opportunity to "discuss the upcoming challenges for the world in a clear and independent manner".
Speaking on the challenges the world is currently facing, the Prime Minister said, "There is no doubt that the world is going through extraordinary change and uncertainty. The increasing geopolitical tensions have put immense pressure on global governance. Multilateralism and rule-based order are being rapidly disturbed by unilateralism and compact groups, the adverse effects of which are suffered by the people everywhere."
He further stated that "non-UN mandated sanctions" and "protectionism" are prime examples of the same.
Addressing issues of economic interest and climate change, the Prime Minister said, "World Trade Organisation's Doha development agenda has been stalled and we have not seen financial commitment for the developing countries from the developed countries at an expected level since the Paris Accords. Climate justice is being weakened in this way. We are far from the goals of sustainable development."
He highlighted four crucial aspects for RIC to work on - regional and global stability, economic prosperity, experience sharing on matters of mutual benefit, and support for tackling new and emerging challenges.
Prime Minister Modi also agreed with Putin's views that such meetings, on the sidelines of international forums, should be held on a more regular basis. "The call of the hour is for the three of us to join hands and execute our responsibility in the world, and, through our relations, ensure progress and development," the Prime Minister said.
Briefing the media, Indian Foreign Secretary Vijay Gokhale said that the meeting was "warm and positive".
"All three leaders felt that given our (RIC's) respective roles as emerging economies and markets and influence in terms of maintaining peace and stability in the region, it was perhaps important that the three countries should cooperate and coordinate in various areas in order to contribute to global peace and prosperity," Gokhale said.
The Foreign Secretary further stated that the three leaders agreed to work together on disaster relief, humanitarian assistance, counter-terrorism, and to steer global economic governance.
Prime Minister Narendra Modi is on a three-day official visit to Argentina to attend the ongoing G20 summit.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)