HomeInternational GeopoliticsIndia to push back against 'agenda-driven' global ranking firms: Chief Economic Advisor...

India to push back against ‘agenda-driven’ global ranking firms: Chief Economic Advisor Sanjiv Sanyal

Source : Reuters

India to push back against 'agenda-driven' global ranking firms: Chief Economic Advisor Sanjiv Sanyal
Chief Economic Advisor Sanjiv Sanyal

India to push back against ‘agenda-driven’ global ranking firms: Chief Economic Advisor Sanjiv Sanyal

NEW DELHI: India plans to push back against “agenda-driven”, “neo-colonial” country rankings produced by global agencies on topics like governance and press freedom, a key advisor to Indian Prime Minister Narendra Modi told Reuters in an interview on Friday.

Sanjeev Sanyal, a member of Modi’s Economic Advisory Council, said India has begun to raise this issue at global forums. He said the indices were being compiled by a “tiny group of think-tanks in the North Atlantic,” sponsored by three or four funding agencies that are “driving a real-world agenda.”

“It is not just narrative building in some diffused way. This has clear direct impact on trade, investment and other activities,” Sanyal said.

India ranked lower than Afghanistan and Pakistan in the new World Press Freedom Index released by Reporters Without Borders. It was below Pakistan and Bhutan in an academic freedom index by V-Dem Institute.

Over the past year, India has in various meetings pointed out the flaws in methods used to compile global indices used by institutions like the World Bank, World Economic Forum (WEF) and the United Nations Development Programme (UNDP), Sanyal said.

The “World Bank is involved in this discussion because it takes these opinions from these think-tanks and effectively sanctifies it by putting it into something called the world governance index,” Sanyal said.

The World Bank, WEF, Reporters Without Borders and V-DEM Institute did not immediately respond to requests for comment. UNDP said it would respond shortly.

Sanyal said the ratings also get hard-wired into decision-making through environmental, social and governance (ESG) norms and sovereign ratings. Multilateral development banks offer subsidised loans to ESG-compliant projects.

“The idea of having some ESG norms is not the problem in itself. The problem relates to how these norms are defined and who certifies or measures compliance to these norms,” he said. “As things are currently evolving, developing countries have been completely left out of the conversation.”

The matter is being taken up by the Cabinet Secretariat, which has held more than a dozen meetings on the issue this year, a government official said. The Cabinet Secretariat and finance ministry did not immediately respond to requests for comment.

India has said it plans to be an advocate for developing countries under its G20 presidency. Sanyal did not say if India has flagged the issue of country rankings with the G20.

“There are other developing countries who are also concerned about this because effectively this is a form of neo-colonialism,” he said, adding that concerned ministries have been asked to establish benchmarks and engage continuously with ratings agencies.

Some of the upcoming indices being watched out by India are financial development index by International Monetary Fund, gender inequality and human development indices by UNDP, logistics performance and worldwide governance indicators by the World Bank, sources said.  India to push back against ‘agenda-driven’ global ranking firms: Chief Economic Advisor Sanjiv Sanyal India to push back against ‘agenda-driven’ global ranking firms: Chief Economic Advisor Sanjiv Sanyal India to push back against ‘agenda-driven’ global ranking firms: Chief Economic Advisor Sanjiv Sanyal India to push back against ‘agenda-driven’ global ranking firms: Chief Economic Advisor Sanjiv Sanyal India to push back against ‘agenda-driven’ global ranking firms: Chief Economic Advisor Sanjiv Sanyal IgMp

RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Aatmanirbhar Bharat

All

AMCA 5th Generation Stealth Fighter Updates

AMCA to be integrated with sophisticated indigenous Distributed Aperture System (DAS) that making it a formidable air asset for the Indian Air Force

Source : IgMp Bureau India’s Advanced Medium Combat Aircraft (AMCA) is on the brink of a revolutionary transformation with the integration of a sophisticated Distributed...

AMCA to incorporate the best features of both 5th and 6th Generation fighters: ADA sources

Source : IgMp Bureau India's strides toward indigenous air dominance receive a substantial boost with the green signal for the Advanced Medium Combat Aircraft (AMCA)...

Most Popular

Recent Comments

Archive Months

Miscellanous

French firms to triple 155mm ammo production, boost weapons output

PARIS — French defense firms have boosted production of self-propelled guns, artillery shells, fighter jets and anti-air missiles, the country’s armed forces minister said...

Indian Navy re-initiates stalled program to buy 6 more P-8I aircraft from Boeing US

Source : IgMp BureauIndian Navy Boeing P-8I Maritime Patrol Aircraft (Boeing Image)The Indian Navy has reinitiated the program to buy 6 more Boeing P-8I...

PM Modi seeks strict action against Khalistan network in the West, asks Ministers and Diplomat to contact Western counterparts on this

Source : The Sunday Guardian PM Modi seeks strict action against Khalistan network in the West, asks Ministers and Diplomat to contact Western counterparts on...
Visits
error: Content is protected !!