Shaktikanta Das Urges Global South to Counter Protectionism
Shaktikanta Das called on Global South nations to use their collective economic weight to counter protectionist policies and diversify energy sources to build resilience.
Principal secretary-2 to the prime minister Shaktikanta Das urged nations of the Global South to leverage their collective economic influence to counter protectionist policies and unilateral actions by major global powers. Speaking on September 29, 2026, at the launch of the India and Emerging Economic Order Forum and a session hosted by the Research and Information System for Developing Countries, Das argued that developing economies can increase their bargaining power in trade, climate finance, and global financial reforms through deeper cooperation.
Das identified five primary challenges facing these nations: food security, trade diversification, energy transition, macroeconomic stability, and job creation. He specifically warned that conflicts in West Asia have driven up energy prices and inflationary pressures, which strain the foreign exchange reserves and fiscal deficits of energy-importing countries. To mitigate these vulnerabilities, he advocated for the diversification of energy mixes through the adoption of biofuels and renewables.
Positioning India as a leader in this transition, Das noted that the world's economic gravity is shifting eastward. He highlighted the need for increased investment in employment generation, noting that 1.2 billion young people in emerging economies will enter the workforce over the next decade. He suggested that India could support other developing nations by sharing its experience with digital public infrastructure.
