India's Prime Minister Narendra Modi has welcomed a ceasefire in Gaza that is expected to enable the release of dozens of hostages taken by Hamas, and urged leaders of the top rich and developing countries to work together to ensure the Israel-Hamas war does not expand.
Hosting a virtual meeting of Group of 20 leaders, Modi said the hostages should be released and humanitarian assistance expedited.
India has the G20 presidency for 2023.
"Terrorism is not acceptable and civilians' death is condemnable," he said.
Israel and Hamas agreed to a four-day cease-fire in the war in Gaza - a breakthrough that will facilitate the release of dozens of hostages held by militants as well as Palestinians imprisoned by Israel, and bring a large influx of aid to the besieged territory, officials said on Wednesday.
The truce raised hopes of eventually winding down the war, which was triggered by Hamas' October 7 rampage into southern Israel.
US Secretary of the Treasury Janet Yellen and China's Premier Li Qiang represented their countries at the virtual summit.
Russia’s President Vladimir Putin and Canada's Prime Minister Justin Trudeau attended the virtual summit.
Putin in his speech pointed to shifts on the global stage to argue that the world is going through a process of radical transformation with "new, powerful centres of global economic development emerging and strengthening".
“Turbulence in the markets is increasing, chronic problems in the international financial sector, energy and food security are worsening," he said.
Putin noted the criticism of Russia’s action in Ukraine but sought to deflect attention from it by pointing at civilian suffering in the Israel-Hamas war.
"Yes, of course, military actions are always a tragedy for specific people, specific families and the country as a whole," he said.
"And, of course, we must think about how to stop this tragedy.”
“The war and the loss of life can't but cause shock,” Putin continued.
"But isn’t anyone shocked by the extermination of civilians in Palestine, in Gaza today? Isn’t anyone shocked about doctors forced to perform operations on children and use a scalpel on children’s bodies without anesthesia?”
Modi urged the G20 leaders to push for effective implementation of various decisions made at their September summit in New Delhi.
Those include climate financing, reforms of multinational development banks and work on the creation of a framework for ethical and artificial intelligence as well as developing a common framework for digital public infrastructure.
India's Finance Minister Nirmala Sitharaman said the US administration has asked Congress to increase World Bank financing by more than $US25 billion ($A38 billion) and Germany has pledged $US331 million in hybrid capital that can be used by the World Bank to increase lending over the next 10 years.
Other issues critical to developing countries include alternative fuels like hydrogen, resource efficiency and food security.
Modi announced the creation of a social impact fund with an initial contribution of $US25 million to help developing countries meet sustainable development goals.
He urged other countries to join the initiative.
“Artificial intelligence should reach the people and it must be safe for the society,” Modi said.
He invited all G20 member countries to attend a Global AI summit in New Delhi next month.
India is promoting itself as a bridge to the developing world and a rising global player.
Ahead of the G20 virtual summit, Modi held a similar meeting with 130 leaders of mostly developing countries.
India's G20 presidency ends on November 30 and the baton is being passed to Brazil for 2024.
