New Delhi, Jan 21: British Prime Minister Gordon Brown today unequivocally supported India's bid for a permanent seat in the United Nations Security Council and argued for reform of the International Monetary Fund(IMF), the World Bank and the G-8 to reflect the rise of India and Asia.
In a subtle endorsement of the Indo-US nuclear deal, Mr Brown said Britain will press for an early agreement to a new IAEA-led international system to help non-nuclear States acquire the new source of energy they need, including through an "enrichment bond." But this offer must be made only in return for firm commitments to the highest non-proliferation standards, he said.
"We can and must do more to make our global institutions more representative," Mr Brown said in his address to the Indian industry.
"I support India's bid for a permanent place --with others-- on an expanded United Nations Security Council. And I support changes to the IMF, World Bank and the G-8 that reflect the rise of India and Asia", Mr Brown said.
Mr Brown's case for a new international nuclear treaty was based on the premise that all around the world there was significant new interest in nuclear power as a source of energy supply and this increased interest brought with it increased risk of proliferation.
The theme of Mr Brown's address was 'Building a new global society; the renewal of International Institutions.' Commerce and Industry Minister Kamal Nath also spoke on the occassion.
The event was jointly organsied here by the Federation of Indian Chambers of Commerce and Industry(FICCI) and the Confederation of Indian Industry(CII).
Mr Brown said there was an urgent need for financing of environmentally sustainable development. "So while we strenghten the orld Bank's focus on poverty reduction, its capacity and global reach should also make it a bank for environment--ensuring that its development programmes provide an interegrated approach to both poverty eradication and climate change."
Mr Brown said with wave after wave of globalisation shaping the architecture of a new economy that is for the first time truly global, the biggest shift in the balance of economic power in two centuries is the rise of Asia. He said out of these global flows of capital and global sourcing of goods and services, India has been growing at more than eight per cent and in less than three decades from now it will be the world's third largest economy.
"In just 15 years you have doubled your national income, doubled your share of world exports and lifted 20 million people out of poverty," he said.
He also noted that the country is already the world's fifth largest market for telecoms, the world's fourth largest producer of medicines, the world's third largest market for new aircraft orders, the world's second largest producer of software applications and seen worldwide as a first choice for IT in the aerospace and automotive components.
The following are the other key points made by Mr Brown; The post 2012 global climate agreement must devise a framework that benefits the world's poor as well as its developed and emerging nations; Faced with serious challenges from Iran and south Korea, there was need to send a powerful signal to all members of the international community that the race for more and bigger stockpiles of nuclear weapons was over; Britain to be in the forefront of the international campaign to acclerate disarmament among posser states, to prevent proliferation and to achieve a world free of nulear weapons; Need to do more to ensure rapid reconstrtuction on the ground once conflicts are over and combine traditional peacekeeping with stabilisation, recovery and development.