– by Ravi Karkara, Dr. Tanmay Motiwala and Amit Bhatia
In the xSpace (formerly Twitter) session “India and Global Affairs with Dhruv Shankar,” a diverse audience of investors, journalists, youth leaders, and civil servants gathered to explore India’s evolving role on the global stage. Shankar began by discussing the key developments in India and global affairs as of 2024, post-UN General Assembly. He reflected on recent conversations that highlighted India’s strategic positioning in geopolitics, the digital economy, and women’s rights.
You may listen to the Audio recordings of this xSpace at below links:
Part 1: https://twitter.com/i/spaces/1OwxWNpYDanJQ
Part 2: https://twitter.com/i/spaces/1MYGNMzYolZKw
Shankar emphasized India’s growing leadership in global geopolitics through its pivotal role in the G20. As the host of the G20 Summit in 2023, India championed multilateral cooperation, focusing on sustainable development and climate change. Its efforts to include voices from the Global South underscored its commitment to a more equitable international order. In forums like the Quad, India has been instrumental in promoting a free and open Indo-Pacific, collaborating with partners like the United States, Japan, and Australia to address regional security challenges. Shankar also highlighted India’s advocacy for UN reforms, aiming to make global governance structures more representative and responsive to contemporary challenges.
India’s diplomatic acumen was further demonstrated by its role as a peace broker in the Russia-Ukraine conflict. Leveraging its historical ties with both nations and its non-aligned stance, India facilitated dialogue aimed at de-escalating tensions. This initiative showcased India’s potential as a mediator in international conflicts, reinforcing its image as a responsible global player.
The session also delved into the complexities of Indian democracy, often misunderstood at the grassroots level. Shankar noted that while there’s much commentary on Indian democracy, a deeper understanding is needed to appreciate its vibrancy and resilience. Additionally, he highlighted the critical role of women in shaping India’s future workforce and politics. Despite significant progress, women still face obstacles such as gender bias and limited access to education and healthcare. Addressing these challenges is crucial for harnessing their full potential in public and family life.
India’s digital transformation, powered by the India Stack, has positioned the country as a global leader in fintech innovation. The India Stack is a comprehensive set of open APIs and digital public goods that facilitate electronic transactions, encompassing identity verification through Aadhaar, digital payments via the Unified Payments Interface (UPI), and data management systems. This infrastructure has enabled financial inclusion at an unprecedented scale, transforming India into a cashless economy with the highest volume of digital payments globally. Recognizing its potential, India is now exporting this fintech model to the world, sharing its digital infrastructure with countries like Papua New Guinea and Trinidad and Tobago. This export not only showcases India’s technological prowess but also offers a blueprint for other nations to enhance financial inclusion and digital governance.
The Q&A session proved to be engaging, covering topics from geopolitics to supply chains and the India-Middle East-Europe Economic Corridor. Attendees were eager to discuss India’s strategic initiatives that aim to enhance connectivity and economic integration across regions. Shankar’s insights underscored a recurring theme: this was India’s time to shine on the global stage. By leveraging its strengths in diplomacy, technology, and human capital, India is poised to drive meaningful change across various sectors, contributing significantly to global stability and prosperity.
