Global South: India’s Natural Constituency
On February 4, 2023, the US media published a report on the new Right-Left coalition’s decision to oppose the NATO War – namely, the February 19 Washington demonstration. On the same day, International Affairs, too, published an analysis of the speeches of Indian Prime Minister Narendra Modi and External Affairs Minister Dr Subrahmanyam Jaishankar, delivered at the Voice of Global South Summit just held in New Delhi. The main theme of that analysis is: “In the historic transition underway in the world order, India views the Global South as its Natural Constituency.” The analysis is based on a new article penned by former Indian diplomat M K Bhadrakumar. The article, titled ‘Hopes for a New World Order’ was published in The Tribune on January 23, 2023.
Bhadrakumar appeared on the blacklist of the Ukrainian Government’s Centre for Countering Disinformation (CCD) after he was scheduled to speak at a conference of the Schiller Institute in 2022. The CCD’s blacklist was protested by the Indian Government at that time.
International Affairs’ February 4 coverage of The Tribune op-ed by Bhadrakumar says that Indian diplomacy had “begun turning its back on the Global South” in the early 1990s, opting “to work with the Western agenda”; however, that has now changed decisively. “Jaishankar rejected the collective destructive attempts of the West to polarise the world order… ‘us versus them mindset.’,” wrote Bhadrakumar.
“Surely, the Modi Government is going to annoy the ‘Collective West.’ Be prepared for shenanigans from the West’s toolbox to superimpose a different backdrop for the September event,” Bhadrakumar concludes, referring to the G-20 Summit chaired by India in 2023.
Those shenanigans, which began with a BBC broadside attack on Prime Minister Modi, are now centreing on the attempt to force India’s largest group of production companies, the Adani Group, into bankruptcy. The Group’s eight energy, construction and port companies lost USD 100 billion in share value following an attack on January 30, 2023 by a New York-based short-seller hedge fund, Hindenburg Research, which was piled into by Wall Street and London firms. By February 4 (despite a partial recovery for the companies on February 3), a British analyst for Bloomberg News was forecasting on BBC, “Adani Group contagion” into international banks and “potentially a major blow to India’s economy as the leader of the Global South”.
CNBC attacked the Adani Group on February 5 with a nothingburger: “Some of Wall Street’s biggest names are exposed to the Adani Enterprises plunge,” reporting the unsurprising fact that BlackRock and Vanguard between them held 1.5% stocks of the Adani Group.
This article appeared in the Executive Intelligence Review (Strategic Alert) of Schiller Institute on February 5, 2023. The Schiller Institute is a Germany-based political and economic think tank founded by Helga Zepp-LaRouche, with stated members in 50 countries.
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