The world has finally opened, but not as we knew it. Humans remain more connected than ever, however, globalisation seems to rapidly lose some of its ideological momentum. Cross border FDI has reached pre-pandemic levels, however the job market recovery has gone into reverse. China plus one strategy is gaining ground, while rising inflation is forcing countries to prioritise their self-interest. Work from anywhere is democratising workforce management, while layoffs are sweeping the US amidst recessionary threats.
As the world comes out of the pandemic and moves towards endemicity, the single biggest problem that corporations and governments around the world are trying to solve is of talent availability.
Amidst all this hullabaloo and uncertainty, comes the news of India helming the G20. India is and will likely remain the world’s largest talent powerhouse and the country’s role will be critical to shape not just global economic stability but closer home, regional stability and economic cooperation, which has been plagued with a perceptible shift in geopolitical sentiments and alignments in recent times.
Keeping geopolitics aside, there is perhaps no better time, for US and India to reinforce their partnership in this new dynamic and come out stronger across emerging areas.