Over the years, the world has changed in fundamental ways. We are witnessing a resurgence of Asia, Africa and Latin America. Growth and development have not only made the countries more interdependent, but new and increasingly complex challenges have also arisen. For multilateralism to remain relevant and effective in today's world, multilateral institutions must adapt and reform to reflect contemporary geo-political realities. It is in this context that the expansion of the UN Security Council is of significance.