India Calls for Global Financial Reform and UNSC Restructuring to Empower Developing Nations

India has called for major reforms to both the global financial system and the United Nations Security Council (UNSC), arguing that current structures do not adequately reflect the needs and aspirations of developing countries. Speaking at the 2026 ECOSOC Forum on Financing for Development at the UN Headquarters, MEA Secretary (West) Sibi George highlighted deep structural challenges in development financing. He stressed the urgent need for a fairer, more inclusive financial architecture to bridge the estimated US$ 4 trillion gap in funding required to achieve the Sustainable Development Goals (SDGs). India emphasized that reforming international financial institutions, amplifying the voice of the Global South, and expanding digital public infrastructure are essential to meeting global commitments such as the Sevilla agenda.

At the same time, India renewed its call for long-pending UNSC reforms during Intergovernmental Negotiations (IGN), pointing out that the current composition—especially in terms of permanent membership—fails to represent developing nations. It advocated for greater inclusion of the Global South and noted alignment between its position and the African model for reform.

India also reaffirmed its strong commitment to the United Nations through discussions on peacekeeping with senior UN official Khaled Khiari. Having contributed more than 275,000 personnel to UN peacekeeping missions since 1948, India continues to play a significant role in promoting global peace, multilateralism, and international cooperation.