G20: PM Modi Welcomes Release Of Hostages In West Asia, Sets Up Global Impact Fund

Indian Prime Minister Narendra Modi welcomed the release of hostages in West Asia on Wednesday and said the Israel-Hamas conflict must not assume regional proportions during his inaugural address at the G20 Virtual Summit.

This comes at a time when Israel and Hamas forces have agreed on a four-day truce, mediated by Qatar. The agreement will see the mutual release of hostages, with 50 women and children released from captivity in Gaza in exchange for 150 Palestinian women and children from Israel.

The summit also saw the presence of leaders such as Russian President Vladimir Putin and Canadian Prime Minister Justin Trudeau.

This marks the first-ever G20 virtual leaders' meeting after a presidential leadership summit. India hands over the G20 presidency to Brazil on Dec. 1.

Humanitarian aid must continue to flow into the region, he said, before highlighting that the disturbances and security-related issues in West Asia are a concern for all.

The Prime Minister's speech reflected India's long-standing position on fighting the larger threat of terrorism but did not include any mention of a ceasefire.

Global Impact Fund

Following the outcome of the G20 Leaders' Summit in New Delhi on Sept. 9 and 10, PM Modi told the world leaders that a digital public infrastructure repository has been set up and had recorded participation of 50 DPIs from 16 countries.

To bolster the implementation of DPI in the global south countries, a “social impact fund” will be created, he said, seeking the participation of other world leaders.

India will put up $25 million as an inaugural contribution for the social impact fund, he said.

PM Modi also mentioned negative use of artificial intelligence, particularly deepfakes which have recently surfaced, as a cause for concern. The Prime Minister called for a global regulation of AI to this effect, in an attempt to help it reach people and be safe for society.