Que: Discuss the potential role and contribution of India as a leader of the Global South in realizing the goal of establishing a new international economic order in the 21st century.

The goal of establishing a new international economic order (NIEO) in the 21st century is focused on reducing inequality between developed and developing countries, sustainable development, climate justice and increasing the representation of developing countries in global institutions. As a leader of the Global South, India can play a key role in realizing this goal due to its economic growth, democratic values ​​and strategic position. Today, India has emerged as the fourth largest economy in the world and is strengthening the voice of developing countries.

• Potential role and contribution of India:

• Leadership as a voice of the Global South: India can represent the interests of developing countries in international forums, such as for reform of voting rights and debt relief in the International Monetary Fund (IMF) and the World Bank. For example, during its 2023 G20 presidency, India increased the representation of the Global South by making the African Union a permanent member and emphasised SDG financing in the New Delhi Declaration. This role is based on India’s philosophy of ‘Vasudhaiva Kutumbakam’ (the world is one family), which is useful for reducing global inequality.

• Economic and development cooperation: India can promote South-South cooperation, such as sharing technologies such as Digital Public Infrastructure (DPI) for example, plans to share systems such as Aadhaar and Unified Payments Interface (UPI) across 50 countries, which accelerate financial inclusion and public service delivery. India’s role in BRICS – Infrastructure financing through the New Development Bank (NDB) helps to realise the NIEO. Currently, the BRICS region (including new members) strengthens India’s leadership.

• Sustainable development and climate justice: India is a leader in renewable energy, as the International Solar Alliance (ISA) and the National Green Hydrogen Mission provide climate finance and a green economy model for countries in the global South. At the Voice of the Global South Summit (third in 2023 and 2024), India promoted dialogue on food security, energy security and climate change.

• Reforms in international institutions: India defends the interests of developing countries in the World Trade Organization (WTO) and the International Monetary Fund (IMF), such as demands on agricultural subsidies and debt relief. This furthers the goal of NIEO.

• Challenges and limitations:

• Internal inequality: 10% of the population in India lives below $1.90 per day and socio-economic inequality affects its leadership.

• Competition with China: China is also increasing its influence in the Global South (through the BRI), which challenges India’s role.

• Water scarcity: 60% of districts are under water stress, which affects global leadership.

• Challenges in domestic policy: Issues such as poverty and population affect India’s credibility.

Thus, it can be said without a doubt That is, India’s role in terms of Global South leadership is promising, as its economic power (the fastest growing economy) and geopolitical position enable it to act as a bridge. However, internal challenges and competition from China limit it. India’s leadership can promote equitable global governance in a multipolar world, but it requires domestic reforms.