RBI Governor says economic centre of gravity is moving east, urges Global South to act

India's central bank chief, Shaktikanta Das, told a gathering of business leaders that the global economic centre of gravity is increasingly tilting toward the East. The observation was reported by Deccan Chronicle, citing a Reuters World feed. Das highlighted that the rise of Asian economies is reshaping trade patterns and investment flows worldwide.

According to Das, the growing share of production, consumption and financial activity in the region is creating a new set of dynamics that the Global South must understand and incorporate into their development strategies. He stressed that the shift is not merely a temporary trend but a structural change that will influence the balance of economic power over the coming decades.

In response to this realignment, Das urged countries in the Global South to seize the emerging opportunities by strengthening their own economic foundations. He called for greater mobilisation of capital, improvement of trade linkages and the adoption of policies that can attract foreign investment. The governor also pointed to the importance of building resilient infrastructure and enhancing digital connectivity as key drivers for participation in the evolving global market.

Das warned that failure to adapt could leave many developing economies on the periphery of the new growth engine. He advocated for coordinated regional initiatives, better regulatory frameworks and a focus on human capital development to ensure that the benefits of the eastward shift are broadly shared.

The remarks come amid ongoing discussions about the rebalancing of global trade and finance, and they underscore the need for policy makers in the Global South to align their economic agendas with the changing contours of worldwide growth.

Reporting attribution: based on reporting by Reuters World (Google News) — original source: https://news.google.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?oc=5.