The world is at a crossroads. As regional conflicts continue to deepen geopolitical pessimism, there are compelling reasons for increased geo-economic optimism. Global growth is projected to hold steady at 3.2% in 2024 and 2025, inflationary pressures have started to subside and the global economy has avoided a recession despite a sharp tightening of monetary policy around the world, demonstrating unusual strength and resilience.
However, significant risks persist, such as climate change and its health impacts, unstable debt dynamics and the ratcheting up of protectionist measures. Even as fragmentation and polarization are on the rise globally, the most pressing challenges that the world faces—for instance, sustainable growth, an energy transition, creating meaningful employment opportunities and responsible governance of advanced technologies—require effective multilateral cooperation and collective action.
India's emphasis on a rule-based international order, advocacy of collaboration to solve shared issues and commitment to democratic values position it as a stabilizing force in an increasingly complex global order.
India's expanding influence: The country has established itself as a responsible world leader, working alongside an array of stakeholders to champion an inclusive, human-centric and sustainable developmental agenda. During the Covid pandemic, it supplied vaccines and critical medicines to over 100 countries, and its remarkable advances in digital public infrastructure (DPI), highlighting its leadership in digital innovation, offer adaptable models for the world. Initiatives such as the International Solar Alliance and Global Biofuels Alliance showcase India's commitment to drive global progress on sustainable development, climate resilience and the energy transition.
This story is from the December 26, 2024 edition of Mint Hyderabad.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the December 26, 2024 edition of Mint Hyderabad.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Kick off the new year with fresh games
Despite a typical slow pace, Jan 2025 features several new game releases
A flagship to challenge most top smartphones in 2025
The vivo X200 Pro may emerge as the camera phone to beat in 2025. What else does the flagship have going for it?
CES 2025: What Lies Ahead in Tech This Year
With more powerful computing chips, the idea of PCs compact enough to be carried around in one hand is becoming real
Most favoured interpretations can prove unfavourable
India's stance on Switzerland's MFN status in a Nestle tax dispute has had adverse consequences
Elon Musk and his critics are wrong about free speech on X
Both sides of this divide must read the US First Amendment again
Monetary policy should lead the easing cycle our economy needs
Weak demand in the economy needs a response but budget tightening would mean the central bank must look for easing space
Revision of the inflation gauge: Handle with care
India's consumer price index should be revised on the basis of the latest survey of household consumption expenditure, but with nuances of the country's situation kept well in mind
May 2025 spell climate hope after a super-warm 2024
Let's harness the negativity bias that humans are predisposed to for measures aimed at faster climate action
India Needs a Tad More Ambition and Resolve to Boost GDP Growth
We must focus on long-term fixes rather than near-term uncertainties for fast economic expansion
Insights on When to Step Back From the Stock Market
The stock surge since 2020 has made it harder to convince investors to step back if needed
