The Indian Prime Minister hosted a special summit Saturday of Group of Four (G4) leaders German Chancellor Angela Merkel, Brazilian President Dilma Rousseff and Japanese Prime Minister Shinzo Abe aimed at United Nations Security Council (UNSC) reforms.

The G4 leaders, in a joint statement, called for a "more representative, legitimate and effective" Security Council after the meeting at the Waldorf Astoria Hotel in New York.

"A more representative, legitimate and effective Security Council is needed more than ever to address the global conflicts and crises, which had spiralled in recent years," the G4 leaders said in a joint statement after the summit, according to Press Trust of India.

Indian premier Narendra Modi, in his opening remarks, called for UNSC reforms within a fixed time frame.

"The reform of the Security Council within a fixed time frame has become an urgent and important task," Modi said, according to an Indian government statement.

"The Security Council must include the world's largest democracies, major locomotives of the global economy, and voices from all the major continents. It will carry greater credibility and legitimacy and will be more representative and effective in addressing the challenges of the 21st century," the Indian premier said.

G4 countries - India, Germany, Brazil and Japan -formed in 2004. The bloc has been demanding reforms at United Nations Security Council (UNSC) and their entry into it as permanent members, India Today reported. UNSC currently has five permanent members - Britain, China, France, Russia and the U.S.