New Delhi, Dec 14 (IANS) India's growth as an economic power is also enabling the country to play a key role in the development of the Global South with shared priorities of resilience, inclusion, sustainability and locally relevant innovation, according to a media report.
The 2023 G20 New Delhi Leaders’ Declaration captured this spirit by calling for a more representative, secure, and digitally enabled global growth model - an agenda that resonates deeply with emerging economies, according to an article in the Vietnam Times.
"India’s rise combines scale, innovation, and purpose in a way few nations can replicate," the article stated.
From pioneering digital public infrastructure that delivers real-time financial inclusion to providing vaccines and essential pharmaceuticals to more than 150 countries, India has demonstrated that development solutions can be both scalable and globally accessible. These achievements are not accidental; they are built on decades of strengthening institutions, investing in human capital and leveraging technology as an equaliser, it said.
It highlighted that India’s deepening economic relationships across Africa, Latin America, and West Asia enhance its ability to shape South-South cooperation. Its development partnerships -- from digital identity systems to renewable energy collaborations -- carry an appeal rooted in shared experience and practical adaptability.
India's model is not just about providing solutions; it is about co-creating them with partner nations, making its engagement distinctive, trusted and long-term, the article said.
Going forward, India’s growth will be powered by a dual engine: a globally competitive services sector and high-end, value-added manufacturing in electronics, renewable energy, defence and semiconductors. This balanced expansion will enable India to participate more strongly in global value chains while also contributing to the supply-chain resilience of partner nations, it added.
Growth corridors stretching across West Asia, Africa, and Latin America will become hubs of collaboration in energy transition, digital infrastructure, food security and circular manufacturing. These linkages will strengthen not only India’s position but the capacity of the global south as a whole, it further stated.
The article underscores that government-led innovation has played a crucial role in India’s ascent so far. The next stage, however, will require Indian businesses to deepen their global ambitions. Outward direct investment has grown significantly, reflecting confidence and readiness among Indian firms to build ecosystems abroad rather than merely exporting to them.
Indian companies in FMCG, financial services, pharmaceuticals, and telecommunications are expanding their footprint across emerging markets, bringing with them not only capital but also technology, employment and shared growth.
India’s continued development will also be supported by sustained investments in rural infrastructure. Electrification, logistics networks, water access, sanitation and healthcare have become powerful accelerators of rural productivity and national competitiveness, the article pointed out.
These investments are not social spending but growth multipliers that expand markets, unlock labour participation and raise living standards.
In the digital era, India has the potential to emerge as an AI infrastructure provider for emerging economies.
By building large-scale data centres, exporting computers and developing AI platforms suited to local needs, India can offer sovereign and affordable alternatives to Western digital ecosystems. This opportunity mirrors the software revolution that once made India the world’s technology talent hub. Today, it can become the backbone of digital transformation across the global south, the article further stated.
India’s rise is steady, deliberate and grounded in a vision of inclusive prosperity. As the world’s economic centre of gravity shifts southward, India has both the opportunity and responsibility to guide this moment toward a more equitable, more connected future. The result is a more distributed and inclusive global economic architecture—one increasingly shaped by the ambitions, capabilities and partnerships of the global south, the article further states.
The Global South now accounts for nearly 85 per cent of humanity and close to 40 per cent of the world’s GDP. Over the coming decade, global goods trade is projected to reach $32.6 trillion, with the Global South driving nearly half of all exports, the article added.
--IANS
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