Volume : 10, Issue : 12, DEC 2024

INDIA IN THE GLOBAL SOUTH: A RISING ECONOMIC POWER

INDIA’S ECONOMIC CHALLENGES IN THE CONTEXT OF GLOBAL SOUTH COUNTRIES

DR. MADHU SUDAN PRADHAN

Abstract

India warm hosted the 1st Voice of Global South countries Summit in month of January 2023 and the 2nd edition was held in November 2023, both were in virtual format. The Voice of Global South Summit is an extension of India’s philosophy of Vasudhaiva Kutumbakam, or "One Earth, One Family, One Future” to the international arena.

Key Highlights of the 3rd VOGSS

Participation: 123 countries (China & Pakistan not invited)

Theme: An Empowered Global South for a Sustainable Future.

India has proposed a comprehensive and human-centric "Global Development Compact" to address the rising debt of the developing countries for the Global South. India will work to provide affordable generic medicines, share experiences in natural farming with Global South countries. India will also launch a special fund of $2.5 million to boost trade promotion activities, and $ 1 million fund for capacity building in in trade policy and trade negotiation.

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