How the G-South platform will be a win-win
The article today by our PM Shri Narendra Modi published simultaneously by many newspapers across India upon India assuming leadership of G-20 is one of its kind, truly Vishwa-Guru-ish[1]. It could not have come at a better time, with almost every major nation at the throat of at least one other nation, offering them a win-lose proposition.
Whether it is the US, China, Europe, Russia, Ukraine, or any other major power, they have not acquitted themselves creditably in the geo-political melee.
India has always been non-aligned, but India’s stand didn’t matter in the global scene till recently. It is only now that we have started acquiring increasingly higher stature in geo-politics, esp after Covid, China’s belligerent attitude towards the West and its neighbours, the Russsia-Ukraine war, and the economic fallout of all these globally. Now we are not quite non-aligned but selectively aligned on an issue-by-issue basis, in our own interest.
The world realizes the crucial role India can play in cooling the temperatures across issues including defence preparedness, esp since India demonstrated its ability to stand up to China in its skirmishes on its borders with China and with Pakistan against its cross-border terrorism with surgical strikes.
India is now part of the G-20, QUAD, U2I2, BRICS, SCO, etc all of which have brought a lot of significance to India in the geo-political theatre.
India played a positive role in COP26, not only in standing by developing nations but also in ironing out differences with the West in coming out with a moderated and widely agreeable text of the agreement, and itself offering to go beyond its call of duty in terms of its environmental commitments.
In all multilateral forums, be it climate change, WTO, or the UN, the developed countries are only interested in protecting their own self-interests with complete disregard to the interests of the developing world (esp lower middle and lower income nations, earning up to about USD 4,000 GNI per capita). There is almost a total lack of statesmanship in global leadership.
On a different note, China is facing a backlash from within due to the zero-Covid policy, with people revolting across many cities, and its logic in pursuing this policy is only perplexing everyone outside; perhaps, it’s not disclosing some vital problem within. China is becoming not so trust-worthy in the global supply chain.
So, in such a highly turbulent world, India, being relatively fairly stable, a large country with the highest current GDP growth and highest growth potential in the near future, with a high domestic market that significantly insulates it from global turbulence, and not having taken partisan sides on any globally contentious issues, has a significant role to play in global politics, which has been duly acknowledged by the developed world including the US.
This is not to say that India faces no major problems; it suffers and will continue to suffer in growth despite its reasonable stability due to being unfairly tested in its borders with covert threats by Pakistan and overt threats by China, and it doesn’t necessarily have the backing of all developing/ lower income countries on all, or even most issues, like in WTO.
It is in this context that India assumes the leadership of the G-20. The voice of developing nations is not heard in any major global forum. India is in bilateral trade with many of these countries. For example, India has been conducting India-Africa Conclave for almost 2 decades now.
This is a great opportunity. It will be a good idea to form a G-South Group (of lower middle and lower income countries, participation being voluntary, of course), India can become the voice of all these countries in forums where these countries are not represented, and even in forums where these countries are represented, without much voice.
This suggestion is in line with the spirit of the article written by PM Modi today. This G-South platform will be a win-win for all the countries involved.
India can offer its digital, banking and trading platforms (to be created) to trade among the G-South countries with INR as the exchange currency optionally. The advantage for the small G-South countries is that they may buy from one country and sell to another country within G-South with INR as the exchange currency, to balance their trade. Optionally, the price fixation can be in USD to have stability in currency, but actual trading can be done in INR.
India can offer to the G-South countries, its expertise in many areas like democracy, IT, satellites, agricultural research & development, digital identity of citizens, the conduct of elections, defence and police preparedness, environmental management, GST implementation, value addition to exports, etc and help in capacity building in these countries.
These will not only help increase our exports and help source imports, esp of raw materials but also use our soft power to help us become a true Vishwa Guru, over time.
The cascading benefit of all this to India, in the long run, will be immense.
Note:
1. Text in Blue points to additional data on the topic.
2. The views expressed here are those of the author and do not necessarily represent or reflect the views of PGurus.
Reference:
[1] ‘Humanity’s challenges can’t be solved by fighting … but by acting together’: The PM says India’s G20 presidency will reflect its tradition of seeking harmony between all – Dec 1, 2022, ToI
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Very good suggestion. But, ROP and ROL will not let this happen, and there are enough morons who are strong supporters of ROP and ROL.