Need to jointly shape global norms for cryptocurrencies, social media: PM Modi at Democracy Summit

New Delhi [India], December 10 (ANI): Noting that India would be happy to share its expertise in holding free and fair elections and in enhancing transparency in all areas of governance through innovative digital solutions, Prime Minister Narendra Modi on Friday stressed on jointly shaping global norms for emerging technologies like social media and crypto-currencies so that these are used to empower democracy, not to undermine it.
Addressing the 'Summit for Democracy' hosted by US President Joe Biden virtually, the Prime Minister said the meeting provides a timely platform for furthering cooperation among democracies.
He said democratic countries need to constantly improve their democratic practices and systems and enhance inclusion, transparency, human dignity and decentralization of power.
PM Modi said that different parts of the world have followed different paths of democratic development.
"There is much we can learn from each other. We all need to constantly improve our democratic practices and systems. And, we all need to continuously enhance inclusion, transparency, human dignity, responsive grievance redressal and decentralization of power," he said.
"In this context, today's assembly provides a timely platform for furthering cooperation among democracies. India would be happy to share its expertise in holding free and fair elections, and in enhancing transparency in all areas of governance through innovative digital solutions. We must also jointly shape global norms for emerging technologies like social media and crypto-currencies, so that they are used to empower democracy, not to undermine it," he added.
PM Modi emphasised that democratic spirit is integral to India's civilisational ethos and noted that centuries of colonial rule could not suppress the democratic spirit of the Indian people.
"Elected republican city-states such as Licchavi, Shakya flourished in India as far as 2500 years back. The same democratic spirit is seen in the 10th Century's Uttaramerur inscription that codified the principles of democratic participation," he said.
"By working together, democracies can meet the aspirations of our citizens and celebrate the democratic spirit of humanity. India stands ready to join fellow democracies in this noble endeavour," he added. (ANI)