Volume : 10, Issue : 12, DEC 2024

INDIA IN THE GLOBAL SOUTH: A RISING ECONOMIC POWER

IMPACT ON THE ECONOMY DUE TO INDIA'S INCREASING PARTICIPATION IN THE GLOBAL SOUTH

JYOTI PARKASH, JYOTSNA

Abstract

India's growing engagement with the Global South represents a significant shift in the dynamics of international relations and global economic structures. As the country deepens its political, economic, and strategic ties with emerging and developing nations, particularly in Africa, Latin America, and Southeast Asia, it has begun to play a pivotal role in shaping the economic future of the Global South. This paper explores the impact of India's increasing participation in this bloc, highlighting the reciprocal benefits and challenges it presents both domestically and internationally. On one hand, India's expanded trade relations, investments, and leadership in South-South cooperation have enhanced its economic standing, fostering growth in sectors such as infrastructure, energy, and technology. On the other hand, India's engagement with the Global South has prompted both opportunities and risks related to its balance of trade, diplomatic relations with traditional powers, and socio-economic development. By tracing these trends, the paper offers insights into how India's proactive stance in the Global South is reshaping its economic strategies and positioning it as a key player in the evolving global economic landscape.

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References

1. http://www.oecd.org/economy/india-economic-snapshot/

2. https://indianexpress.com/article/opinion/columns/in dia-development-global-south-9552729/

3. https://www.mea.gov.in/bilateral-documents.htm?dtl/ 38186/Chairs_Summary_3rd_Voice_of_Global_South_Summit_August_17_2024