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Press Release

Need for building new coalitions for global governance: Dr Rajiv Kumar, Vice Chairman, NITI Aayog

Sep 15, 2021

Policy makers and industry are unanimous on deeper involvement of private sector in global governance

NEW DELHI, 15 September 2021: Dr Rajiv Kumar, Vice Chairman, NITI Aayog, Government of India today while addressing the session on Future of Global Governance & Development Partnerships Multilateral Session at LEADS 2021, organized by FICCI said that there is a need for building new coalitions of intermediate powers for better global governance and rule of international law for better serving the global community.

LEADS is curated as a strategic platform for global leaders from Asia, Europe, Africa, CIS, Americas & the Pacific, to deliberate on the tenets of Leadership, economic Excellence and Adaptability to change and to build on pillars of Diversity and Sustainability.

Dr Kumar stated that global leadership must show urgent and effective commitment backed by action for saving the planet.

Mr Harshavardhan Neotia, Past President, FICCI; Co-Chair, FICCI Forum of Parliamentarians; and Chairman, Ambuja Neotia Group stated that global governance brings together diverse set of State and industry stakeholders and aims at collective actions to provide global public good, open markets and unified standards for industry.

Dr Jyotsna Suri, Past President, FICCI; Co-Chair, FICCI Forum of Parliamentarians; and CMD, Lalit Suri Hospitality Group noted that FICCI believes in diversity and inclusion and feels that global governance can be enhanced through multistakeholder partnerships and the involvement of the private sector.

Dr Vinay Sahasrabuddhe, Member of Parliament, India talked about importance of collectivism and democratic principles and noted that there is a need to re-dedicate towards ensuring economic and social democracy.

Ms Margareta Cederfelt, MP (Sweden); President, Parliamentarians for Global Action, Sweden noted that countries will have to unite forces to ensure that democracy and human rights are protected.

Senator Mark R Warner, Senator Commonwealth of Virginia, U.S. Senate; Co-Chair, Senate India Caucus, USA said that in the 21st century, there is a need for technology alliances to reengage to reflect our values for democracy, around transparency, respect for human rights to realise that we are stronger on a multilateral basis.

Mr GC Chandrashekhar, Member of Parliament, India noted that multilateral systems and trade governance and cooperation for economic growth needs to be stressed upon. He noted that global governance mechanisms for economic and financial cooperation must achieve common goals.

The Rt Hon Lord Howell, Member of House of Lords of the British Parliament, United Kingdom said that fresh institutions need to bring greater stability without chaos and establish clear international rules.

Ms Clarissa Garotinho, Member of the Chamber of Deputies of Brazil, Brazilian Parliament remarked that there is a need for greater participation of state and private entities to address the challenges in the VUCA world for economic development and sustainability.

Mr Julian Leeser, Member of Parliament- House of Representatives, Australia mentioned that India and Australia work towards making the region inclusive, open and inclusive, and support structures that are dynamic and responsive to challenges.

The session was concluded with the following key outcomes:

  • India has always been a votary of multilateral fora for governance, and it is important to have convergence of approach for global public good.
  • Global governance and development partnerships should also take into consideration cultural and spiritual aspects to make them sustainable.
  • The corporate sector needs to come on board to reimagine the world; business as usual approach will need transformation.

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