Immediate need to reform international institutions

In the fast changing world scenario in every sphere of life, the international bodies like United Nations Security Council (UNSC), International Monitory Fund (IMF) and International Financial Institutions must be immediately reformed. Without the participation of the emerging economic powers like G-5 Nations in international financial institutions, they can not serve their purpose . Majority of the poor in the world live in developing and third world countries. So, the G-8 of industrialised countries must make way for G-5 to participate and work for international bodies. Their participation will ceate new world order completely free any sort of discrimination. G-5 consists of five emeging economic powers among the developing countries. They are-India, China, Brazil, South Africa and Mexico.Among the developing and emerging economy of the world, India deserves most for a seat at UNSC. Prime Minister Dr. Manmohan Singh has rightly made a strong advocacy for a seat at the high table. UNSC consists of five big powers. They are: US, Britain, France, Russia and China. All are nuclear power states. India is also nuclear power state and the largest democracy of the world. With the inclusion of India in UNSC, the world will have a new and progressive direction. Among the developing countries, India is counted as emerging global economic power and it is held in high esteem because of its secular and democratic society.The US being the champion of democracy and sole super power of the world, it must work for facilation of India’s entry into UNSC to make it successful and meaningful. India by participating in the functioning of the UNSC will give voice to the developing and third world countries. But the way for it for getting a seat at UNSC is not so easy. Its competitor China and its hostile neighbour Pakistan are opposed to its seat at the UNSC. Britain supports unequivocally India’s claim for a seat at the high table. Russia also favours India. Japan in Asia itself tries to get a seat at Security Council. In the prevailing situation, Prime minister Dr. Manmohan Singh has to put country’s claim strongly before the world leaders and to launch vigorous diplomatic effort to outmanoeuvre other claimant for the seat at the high table. When the Security Council was formed of the five big powers of the world, the situation was quite different at that time from the prevailing one. In the situation of economic downturn all over the world, India holds its forte. It is not behind any of the world’s five big powers in any field. Whether it is economic, scientific, education, art and culture, it has made its mark in every field the world over. The fast economic growth of the country has even compelled international financial institutions to acknowledge its mastery. Therefore, the time has come to reform international body like UNSC to facilitate the entry of India of more than 100 crore population. PM Singh had shown his straight forwardness in presenting country’s grievance when he asked his Pakistan President Asif Ali Zardari to not allow terrorist outfits to use Pakistani terrority for terrorist activities against India in the meeting with him last month in Russia. In a pull aside meeting with US President Barack Obama, Prime Minister Manmohan Singh has reportedly conveyed India’s concerns regarding terrorism emanating from Pakistani soil as also the urgent need for reforming international institutions. In his bid to meet as many international leader as possible to present India's case forcefully,Prime Minister Dr. Singh also had a one-on-one meeting with German Chancellor Angela Merkel. Both the leaders appear to have discussed a range of bilateral and international issues.