Statement by India during the Panel Discussion on “Promising practices and measures to mobilize public resources to finance sustainable development in a manner consistent with States’ economic, social and cultural rights obligations and reflecting on the outcomes of the Fourth International Conference on Financing for Development and the Second World Summit for Social Development” at 61st Session of the Human Rights Council (23 February-31 March 2026) delivered by Mr. Muhammed Shabeer K, US(UNES), Geneva, 5 March 2026
Mr. Vice President,
My delegation thanks the panelists for their insightful presentations. We agree that Financing for development is a critical enabler for the realization of economic, social and cultural rights.
2. For developing countries, this requires that domestic efforts are backed by a supportive international environment. Urgent reform of the global financial architecture, more nuanced approaches to debt sustainability for vulnerable economies, enhanced synergies among multilateral development banks, international cooperation to combat illicit financial flows, and International Tax cooperation are important focus areas where meaningful movement is much desired.
3. Lowering the cost of remittances, as envisaged under SDG target 17, could unlock billions for health, education and livelihoods; the Human Rights Council should help encourage and mainstream this debate.
4. India’s experience shows how digital public infrastructure can drive financial inclusion and support access to ESCRs by expanding financial services, promoting financial autonomy among women and facilitating commerce.
5. It is also vital to maintain a clear distinction between development finance and climate finance.
6. A rights-based approach through ESCR should reinforce and not side track core debates on development and climate financing, technology transfer and common but differentiated responsibilities, which remain central to the discussions under the development pillar.
Thank you.
***
