Core Viewpoint - The New Development Bank (NDB) has emerged as a significant multilateral development institution led by emerging market and developing countries, providing sustainable infrastructure financing to meet the urgent development needs of the Global South since its establishment in 2015 [10][11][12]. Group 1: Institutional Overview - The NDB has approved 120 projects with a total loan amount of approximately $40 billion, significantly contributing to the development of clean energy and infrastructure in BRICS and Global South countries [11][12]. - The NDB has expanded its membership to include Bangladesh, Egypt, the UAE, Uruguay, Algeria, Colombia, and Uzbekistan, transitioning from a BRICS-centric organization to a truly global multilateral development institution [11][12]. Group 2: Financing and Project Focus - The NDB focuses on projects that have transformative significance for the Global South, such as renewable energy financing in Brazil and offshore wind power projects in China, contributing to carbon reduction and sustainable development [12][13]. - The bank promotes local currency settlements among member countries to reduce reliance on a single currency and lower potential risks [12][13]. Group 3: Governance and Operational Model - The NDB adopts an equitable governance model, ensuring equal voting rights for founding member countries and avoiding political conditions typically associated with traditional multilateral development institutions [15][16]. - The bank respects the development needs and realities of its member countries, employing a country-specific approach to project evaluation, which enhances efficiency and reduces financing costs [15][16]. Group 4: Future Directions and Challenges - The NDB aims to enhance its support for social, economic, and sustainable development projects, addressing the financing gap of approximately $4.2 trillion annually faced by developing countries [15][18]. - The bank is positioned to play a crucial role in reshaping the international financial order, promoting multilateralism, and providing a counterbalance to unilateralism and protectionism in the current global landscape [18][19].

Group 1 - India has responded decisively to the U.S. tariffs on its auto parts and steel by imposing retaliatory tariffs worth $725 million on specific U.S. goods, citing violations of WTO rules [3] - The Indian government recognizes that its exports to the U.S. account for only about 18% of its total exports, providing a buffer against U.S. pressure [5] - India's domestic market strength is a crucial factor in its strategy, as it seeks to assert its independence and not be seen as an economic subordinate to the U.S. [5] Group 2 - Modi's government is strategically repositioning India on the global stage by actively participating in the BRICS summit, aiming to take on the role of a representative for the Global South [7] - At the BRICS summit, India supported reforms to the International Monetary Fund and challenged the dominance of the U.S. dollar, indicating a significant shift in its foreign policy [9] - The actions taken by India reflect a desire for a multipolar world and a rejection of being a pawn in the geopolitical game dominated by major powers [11]