There is urgent need for coordinated action by global community on several fronts

The composition of the Security Council needs to change to reflect contemporary realities of the twenty-first century.

It is only a truly representative and revitalized United Nations that can become the effective focal point for the cooperative efforts of the world community. We need to expeditiously hold negotiations towards this end.

Globalization has contributed to ever widening circles of prosperity and we in India have benefited from it. But its benefits have not been equitably distributed. Ensuring inclusive growth within nations, and inclusive globalization across nations, is a central challenge that faces us.

There is (therefore) urgent need for coordinated action by the global community on several fronts.

The explosion of financial innovation unaccompanied by credible systemic regulation has made the financial system vulnerable.

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