India Hosts First Global South Summit in New Delhi

New Delhi hosted the inaugural Global South Summit, convened by India to establish a permanent multilateral forum for developing and emerging economies outside the G7 and G20 frameworks. Representatives from 126 countries attended, making it the largest gathering of Global South nations in diplomatic history. Prime Minister Modi unveiled a five-point Global South Charter covering debt restructuring, climate finance fairness, WTO reform, technology transfer, and UN Security Council expansion. The summit produced the Delhi Declaration, which calls for a 0.5% global wealth tax on billionaire assets to fund a dedicated Global South Development Fund. India announced it would host the summit annually and contribute Rs 1,000 crore to seed the Development Fund in its inaugural year.