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Shaktikanta Das Urges Global South to Seize Eastward Economic Opportunities
Shaktikanta Das said the world economy is moving more toward Eastern countries.
He said this change could create opportunities for developing countries.
However, wars, trade restrictions and extreme weather are making growth harder.
The conflict in West Asia has raised energy prices and inflation risks.
Countries that import energy may face greater financial pressure.
Das said countries should improve food security, diversify trade and use more renewable energy.
They also need to keep government debt under control.
Finally, he said countries must create enough jobs for about 1.2 billion young people expected to reach working age in the next decade.
Shaktikanta Das said the global economy is increasingly shifting toward the East.
He urged Global South countries to focus on food security, trade, energy and job creation.
West Asia’s conflict has raised energy prices and renewed inflationary pressures, he said.
Das identified trade barriers, fiscal risks and energy dependence as major challenges for developing economies.
He said about 1.2 billion young people in emerging and developing economies will reach working age over the next decade.
- Who
- Shaktikanta Das, Principal Secretary-2 to the Prime Minister, addressed Global South economies.
- What
- Das said the global economy is shifting eastward and urged developing countries to prepare for opportunities and risks.
- Where
- At a Research and Information System session titled “Navigating Uncertainty: The Global South and the Emerging New Economic Order.”
- When
- Tuesday.
- Why
- Global economic shocks, including conflicts, trade restrictions and extreme weather, are affecting growth, inflation, energy security and employment.
Key facts
- Main economic shift
- The global economy is increasingly shifting toward the East.
- Priority areas
- Food security, trade diversification, energy transition, macroeconomic stability and job creation.
- Energy risk
- The West Asia conflict has increased energy prices and renewed inflationary pressures.
- Trade challenge
- Protectionism and higher trade barriers are making access to wealthy markets and advanced technologies more difficult.
- Fiscal outlook
- Fiscal deficits in emerging market and developing economies are expected to widen in 2026, especially among energy-importing countries.
- Employment pressure
- About 1.2 billion young people in emerging market and developing economies are expected to reach working age over the next decade.
- Recommended response
- Das called for energy diversification, renewable energy, stronger domestic competitiveness, fiscal reforms and greater investment.
Quotes
Shaktikanta Das
Principal Secretary-2 to the Prime Minister and speaker at the RIS session
“The economic gravity of the world is shifting eastward. The Global South is steadily increasing its footprint in the global economy and geopolitics. These shifts are reshaping the contours of the global economy and will leave behind a lasting impact on the way we do business and trade in the years to come.”
livemint.com
“The lesson is clear. Diversification of the energy mix can reduce vulnerability and strengthen domestic resilience. Renewables and biofuels can enhance energy security and economic stability.”
livemint.com
Sources
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