Volume : 10, Issue : 12, DEC 2024

INDIA IN THE GLOBAL SOUTH: A RISING ECONOMIC POWER

INDIA IN THE GLOBAL SOUTH: IMPACT ON INDIAN ECONOMY

DR. SANJAY ARORA, DR. BACHETA BHARATI BAHEN DAYAL BHAI

Abstract

India’s engagement with the Global South has significantly influenced its economic trajectory, positioning it as both a leader and beneficiary in the development of emerging markets. As one of the largest and fastest-growing economies in the world, India plays a pivotal role in shaping the economic, technological, and geopolitical dynamics of the Global South. Through trade, foreign direct investment (FDI), technology transfer, and strategic partnerships, India has fostered robust economic ties with countries in Africa, Latin America, and Southeast Asia. These relationships have not only enhanced India’s export markets and access to resources but have also bolstered its role in driving frugal innovation and sustainable development. India’s contributions to infrastructure development, education, and healthcare in the Global South have helped expand its influence, while its own economy benefits from these partnerships through increased industrial growth, job creation, and access to new markets. However, challenges such as geopolitical tensions, sustainability concerns, and infrastructure gaps persist. This abstract explores the multi-dimensional impact of India’s involvement with the Global South, focusing on how these interactions contribute to India’s economic growth and global standing.

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