"Eradication of poverty remains the greatest unfinished business of the 20th century. It is also the most important unfulfilled objective of the United Nations," Modi said in a keynote address - via video - to the Economic and Social Council (ECOSOC) of the UN.
Modi said that developing countries face the challenge of ending poverty in a manner that is friendly to the environment and the planet.
Referring to the recently-concluded Paris agreement on climate change, the Prime Minister said the '2030 Agenda for Sustainable Development' presents a valuable opportunity for the UN system to rethink its role and purpose and make itself more effective.
"Its creation as a distinct part of United Nations is a testimony to the centrality of development in the vision of the founders of the UN," Modi said.
"To achieve a peaceful and prosperous world, we need to put in place first and foremost the conditions for rapid socio-economic development; improvement in the human condition and an end to hunger and deprivation," Modi asserted.
As such it is now the responsibility of ECOSOC to rise up to this challenge and contribute to making this agenda a success, he said adding that the 2030 agenda is a reflection of the challenges faced by the poor countries.
The developed countries on the other hand face enormous responsibilities to rapidly move their economies onto a sustainable path, follow sustainable lifestyles and assist developing countries with finance and technologies, he added.
"At the same time, we have enormous resources at our command and technology today presents us with solutions that were unthinkable earlier. The challenge is to channel the available resources and use technology to tackle the most urgent problems facing us," Modi said.
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Ramaswamy Mudaliar was the first president of ECOSOC at its inaugural session in 1946.
In his opening address to the ECOSOC's first session, Mudaliar defined what he saw was the role ECOSOC was to play in subsequent years, Modi said.
"On the work of this Council and on its ability to solve intricate economic problems of a complicated nature, depends the chance of achieving real security and peace in the world of the future," Mudaliar had then said which was quoted by the Prime Minister in his key note video address to the ECOSOC.
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