The 193-member General Assembly adopted the new framework, "Transforming Our World: the 2030 Agenda for Sustainable Development", composed of 17 goals and 169 targets to wipe out poverty, fight inequality and tackle climate change over the next 15 years.
The new development agenda, arrived at after months and years of intense negotiations, was adopted as world leaders, heads of global financial institutions and other dignitaries headed to the UN headquarters for its landmark 70th anniversary session.
Among the ambitious 17 goals to be adopted by the UN for the next 15 years is complete poverty eradication, zero hunger, quality education, gender equality, sustainable cities and communities and clean water and sanitation.
Officials have forecast 2015 as "a watershed year" for the UN for having reached an agreement that will "change the paradigm about development" while "leaving no one behind" and giving a boost to a global climate change accord later this year.
The much-watched week saw the likes of pop star Shakira and footballer David Beckham, both Goodwill Ambassadors of the UN Children's Fund, making appearances to preview the importance of the global goals.
To mark the landmark occasion, the UN headquarters complex was lit up one night with colourful, massive projections of the new SDGs for all to see.
The three-day UN Sustainable Development Summit kicked off today with a record number of world leaders attending including Modi as well as heads of multilateral bodies like the World Bank and the International Monetary Fund (IMF).
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