India in demand by both developed countries and global south economies: Priyam Gandhi-Mody
The Hindu
Priyam Gandhi-Mody highlights India's rising significance as developed nations and global south economies seek collaboration at the GEC summit.
India currently enjoys a place in the global economy where developed countries want to increasingly engage with it, while governments in smaller countries want India to anchor projects in those countries, Priyam Gandhi-Mody, the founder and chairperson of the Future Economic Cooperation Council (FECC) said.
The FECC is organising a three-day Global Economic Cooperation (GEC) summit in Mumbai on February 17-19, which will bring together delegations from both developed and developing countries. While Minister of External Affairs S. Jaishankar is confirmed to be speaking at the event, Prime Minister Narendra Modi is also expected to deliver a special address, although that is yet to be officially confirmed.
The FECC itself is backed by the Ministry of External Affairs and the Government of Maharashtra.
According to Ms. Gandhi-Mody, the ongoing global disruption is affecting every country, but also simultaneously places India at an “interesting intersection”.
“On the one side, we have the larger economies and blocs like the European Union, the US, Australia, and multiple other countries in the developed part of the world wanting to engage more and more with India,” she told The Hindu in an interview. “On the other side, the countries that are smaller, particularly in the global south, are looking at having India be the anchor of important projects in their countries, and do something jointly with India.”
The GEC was therefore conceived as a platform where decision-makers from each section of the global economy can come together in Mumbai and discuss either how to invest in India, or how the developed world can increase investments in the developing countries, with India anchoring these relationships.
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