Muscat, Nov 5 India plays a leading role in expanding the boundaries of the Global South, enthusiastically sharing the fruits of its development journey with other partners in areas ranging from socio-economic development to digital infrastructure, trade, or investment, a report cited on Wednesday.
It added that India’s engagement is crucial in the evolving dynamics of the Global South, reflecting its strong commitment towards a multipolar world, equitable distribution of power and economic resources, and the democratisation of global platforms to ensure all voices are heard.
“The need for cooperation and coordination between the Global South acquired a key role in the diplomatic relations in the post-colonial world. This traces back to India's association with Egypt, Indonesia, and Ghana to co-lead and openly challenge the Western hegemony through the Non-Aligned Movement (NAM) to the current stress on South-South Cooperation. Historically speaking, from the need for raising a voice against colonial rule across the globe, to NAM, from stressing the need for a multi-polar world to the contemporary phenomenon of South-South Cooperation, India has always been at the forefront in raising a voice and action of the Global South,” a report in 'Times of Oman' detailed.
"Indeed, leveraging the shared historical, cultural, and economic identities as well as development experience is a key aspect of India’s involvement in the Global South. For instance, during the Covid-19 pandemic, India established ‘vaccine maitri’ (vaccina friendship), in which India provided nearly 300 million vaccine doses to less developed and vulnerable countries, often free of cost. This was in contrast to many countries that imposed export controls during the pandemic," it added.
Amid rising trade protectionism and soaring tariffs, the report said, the Global South requires deeper economic integration to stay resilient to economic uncertainties and changes in the political climate of developed economies. It added that with this understanding, India is fast emerging as a key player on the economic frontiers, spearheading economic engagement through investments in the Global South.
“Indian corporates are making significant investments, mergers, acquisitions, and start-ups in traditional as well as newly emerging sectors like agriculture, mining, along with telecommunications, pharmaceuticals, and renewable energy across the Global South," the report noted.
"For instance, in Africa, Indian enterprises have invested over $50 billion. This is not just helping bring money home, but also creating jobs and infrastructure development in Africa. Similarly, in Latin America, India is investing in IT and renewable energy, contributing to the overall technological advancements and sustainable development,” it mentioned.
According to the report, the spirit of 'Vasudhaiva Kutumbakam' (the world is one family) is demonstrated through India’s initiatives in Global South engagement, whether responding to crisis, addressing developmental needs, or raising its voice and support on international platforms.
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