Indian Journal of Society and Politics

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New International Economic Order: The Traditional Framework and Relevance in 21st Century World with Special Reference To India


Affiliations
1 Political Science, Amity Institute of Social Sciences, Amity University Noida, U.P., India
 

The New Economic Order emerged post 1973 Oil Crisis concurrently associated with creation of OPEC in the form of a detailed economic plan suggested by some of the developing countries through the UNCTAD. But this new order died within few years of its inception mainly because of the camaraderie among the developing nations vanishing due to conflicting economic interests. Notwithstanding above, the authors feel that NIEO of yesteryears still exists and greatly effects the world citizenry and the Indian socio-politico-economic system through increased focus on trans-border trade cooperation‟s, development of renewable energy sources, protection of consumer rights, globalization-liberalisationprivatization, self-reliance, Make in India, FDI, Skill India and Start Up India besides rapid industrialisation, spread of banking, internet and e-commerce and increased transparency of governmental functioning with an unprecedented accessibility of members of the Indian government on social media.

Keywords

Trans-Border Trade Cooperation, Steep Global Down Swing, Big-Five, Rhetorical and Political Value, Expansionist Ambitions, Global Multilateral Negotiations, Entrenched Liberalism.
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  • New International Economic Order: The Traditional Framework and Relevance in 21st Century World with Special Reference To India

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Authors

Rajneesh Kumar
Political Science, Amity Institute of Social Sciences, Amity University Noida, U.P., India
Shalini Saxena
Political Science, Amity Institute of Social Sciences, Amity University Noida, U.P., India

Abstract


The New Economic Order emerged post 1973 Oil Crisis concurrently associated with creation of OPEC in the form of a detailed economic plan suggested by some of the developing countries through the UNCTAD. But this new order died within few years of its inception mainly because of the camaraderie among the developing nations vanishing due to conflicting economic interests. Notwithstanding above, the authors feel that NIEO of yesteryears still exists and greatly effects the world citizenry and the Indian socio-politico-economic system through increased focus on trans-border trade cooperation‟s, development of renewable energy sources, protection of consumer rights, globalization-liberalisationprivatization, self-reliance, Make in India, FDI, Skill India and Start Up India besides rapid industrialisation, spread of banking, internet and e-commerce and increased transparency of governmental functioning with an unprecedented accessibility of members of the Indian government on social media.

Keywords


Trans-Border Trade Cooperation, Steep Global Down Swing, Big-Five, Rhetorical and Political Value, Expansionist Ambitions, Global Multilateral Negotiations, Entrenched Liberalism.

References