PM Modi: Need global norms for crypto and social media

New Delhi: Democracies must jointly shape global norms for emerging technologies such as social media and cryptocurrency so that these empower democracy and not undermine it, Prime Minister Narendra Modi on Friday told the Democracy Summit hosted by US President Joe Biden.

Speaking in virtual mode on Friday evening as the leader of the world's largest democracy, PM Modi said the "India story" has shown that democracy can and has delivered. He also said that democracy, apart from being of, by and for the people, was also with and within the people. He also called for improving democratic practices and enhancing inclusion and transparency, adding that India would be happy to share its experience globally in holding free and fair elections.

PM Modi said, "I am proud to represent the world's largest democracy at this summit. The democratic spirit is integral to our civilisation ethos. Elected republican city-states such as Lichhavi and Shakya flourished in India as far as 2,500 years back... Centuries of colonial rule could not suppress the democratic spirit of the Indian people. It again found full expression with India's independence, and led to an unparalleled story in democratic nation-building over the last 75 years."

PM Modi further said, "It is a story of unprecedented socio-economic inclusion in all spheres. It is a story of constant improvements in health, education, and human well-being at an unimaginable scale. The India story has one clear message to the world. That democracy can deliver, that democracy has delivered, and that democracy will continue to deliver."

He added, "The structural features like multi-party elections, independent judiciary, and free media are important instruments of democracy. However, the basic strength of democracy is the spirit and ethos that lie within our citizens and our societies. Democracy is not only of the people, by the people, for the people but also with the people, within the people."

The Prime Minister also pointed out, "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 decentralisation of power."

PM Modi further stated, "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."