EFFECT OF POLICIES AND POLITICS OF DEVELOPED AND DEVELOPING COUNTRIES ON INDIA’S INTERESTS, INDIAN DIASPORA
The evolving global political and economic landscape has had a profound impact on India’s strategic and economic interests. International policies, agreements, and multilateral engagements shape the contours of India’s foreign relations and influence its domestic growth trajectory. Additionally, India’s extensive diaspora plays a key role in enhancing its global image and influencing international perceptions
1.Global Political Shifts: The global political environment has witnessed significant shifts in recent years, characterized by growing multipolarity, the rise of China, US-China rivalry, and changing alliances in the Indo-Pacific regionThese shifts impact India’s foreign policy and its role on the global stage. India has to navigate complex diplomatic relations between major powers, especially in multilateral forums like the United Nations, WTO, and G20.
Emerging Geopolitical Trends: The increasing emphasis on regional security alliances, such as the Quadrilateral Security Dialogue (Quad), and strategic competition in the Indo-Pacific have created both opportunities and challenges for India. The rise of Asia as an economic powerhouse has positioned India as a crucial player in shaping the future of global governance.
2.Economic Globalization and Protectionism: Economic globalization has been accompanied by a rising trend of protectionism in various parts of the world, particularly in developed countries. India’s trade relationships, particularly with partners like China, the USA, and EU, are influenced by global trade policies and the rise of trade wars. India has had to balance its focus on domestic economic protection (such as its withdrawal from RCEP) with the need to integrate into global value chains and attract foreign direct investment (FDI).
1.Strategic Interests: Global policies significantly influence India’s strategic positioning in areas like defence cooperation, energy security, and maritime security. For instance, nuclear agreements with countries like the USA, Russia, and France have enhanced India’s energy security and its standing as a responsible nuclear power. Additionally, policies related to Indo-Pacific security have allowed India to strengthen alliances with nations like Japan, Australia, and the USA, which are critical for countering China’s influence.
Energy Security: International energy policies, including the role of OPEC, agreements like the Paris Climate Agreement, and bilateral energy deals, play a vital role in shaping India’s energy strategy. India is one of the largest importers of oil and gas, and securing energy supplies is central to its economic growth. India’s involvement in renewable energy initiatives, such as the International Solar Alliance (ISA), also reflects its commitment to global energy transitions.