Collective economic diplomacy of global south: India's role

Abstract

After Second World War the international economic regimes and institutions were dominated by northern developed countries. Since the first decades of independence itself, India has questioned this inequality and argued for New International Economic Order. But power asymmetry between north and south made voice of developing countries far from heard. After end of the Cold War, international order changed and new economic powers from the Global South emerged as a challenge to the dominance of the developed countries. New international organisations like BRICS became a platform for coordinating the agenda of the emerging developing countries in international platforms like WTO. Out of BRICS countries, India has unique feature of rapid economic growth and the experience of many decades of the active leadership role among developing countries. India tries to increase its influence among other developing countries through financial aid and other ways. Major concern is after become members of G-20, whether these developing countries still stand for the developing countries or would join with side of developed countries as a discriminator and it would create a new south within Global South.