Former RBI Governor Shaktikanta Das, now serving as Principal Secretary-2, argued that the global economy's centre of gravity is moving eastward, creating a structural opportunity for Global South nations. Speaking at a recent policy forum, he outlined challenges including fragmented trade, debt vulnerabilities, and climate finance gaps, while urging developing economies to strengthen South-South cooperation, diversify supply chains, and leverage digital infrastructure to convert this geopolitical shift into sustained economic gains.

The phrase 'Global South' refers broadly to developing and emerging economies across Asia, Africa, Latin America, and Oceania — nations historically peripheral to Western-led multilateral institutions like the IMF, World Bank, and WTO. Das's remarks reflect a structural realignment: Asia's share of global GDP (in purchasing power parity terms) already exceeds that of North America and Europe combined, and institutions like BRICS, SCO, and the Asian Infrastructure Investment Bank (AIIB) are reshaping global economic governance.

For India, the Global South narrative is central to its foreign policy identity. India hosted the Voice of Global South Summit (first edition January 2023, second edition November 2023) and used its G20 Presidency (2023) to champion developing-nation priorities — debt restructuring, climate finance, and digital public infrastructure. The 'eastward shift' Das references is measurable: the IMF projects Asia-Pacific economies to contribute over 60% of global growth through 2028.

The exam-relevant static layer here involves: (1) India's institutional role in Global South diplomacy, (2) key multilateral platforms where this agenda plays out (G20, BRICS, UN), (3) Das's own profile — he served as RBI Governor from December 2018 to December 2024, one of the longest tenures in recent history, and is now Principal Secretary-2 to the Prime Minister, a senior PMO role. Examiners frequently test both the institutional framework and the person's current designation.