As the world grapples with geopolitical upheavals, economic protectionism, and technological disruptions, the Raisina Dialogue 2025 offered a crucial lens into the shifting paradigms of global governance. More than a forum for high-level discussions, the dialogue underscored a fundamental reality—traditional power structures are crumbling, multilateralism is faltering, and nations are being forced to recalibrate their strategies in an era of uncertainty.

The Crisis of Multilateralism: A System in Decline
For decades, the liberal world order, built on Western-led institutions, has dictated the rules of engagement. However, the persistent failure of multilateral mechanisms in conflict resolution, economic cooperation, and climate action has exposed deep flaws in this system. The recurring theme at Raisina 2025 was the erosion of trust in global governance. The U.S.’s strategic ambiguity, Europe’s overdependence on transatlantic security arrangements, and the rise of revisionist powers like China and Russia signal a decaying status quo.
The emergence of regional blocs and alternative financial structures, from BRICS to AIIB, indicates a move toward fragmentation rather than cooperation. While Western powers struggle to maintain influence, middle powers—India, ASEAN nations, and Latin American economies—are asserting strategic autonomy, refusing to be mere spectators in great-power rivalries.
The Indo-Pacific remains a theater of intense geopolitical maneuvering, with an increasing number of nations hedging their bets rather than aligning completely with any one power. The strategic recalibration seen in alliances like AUKUS and the Quad reflects a growing recognition that collective security must adapt to new realities. Moreover, the African continent’s growing diplomatic assertiveness, through forums such as the African Union and regional trade agreements, suggests that a multipolar world is not just forming—it is already here.

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Economic Reconfiguration: The End of the Dollar-Centric Order?
The economic discussions at Raisina 2025 reflected a stark reality: globalization is being reshaped by protectionism, strategic decoupling, and financial power shifts. The push toward Central Bank Digital Currencies (CBDCs) and regional trade mechanisms suggests a weakening of the dollar’s dominance. With the U.S. and China engaged in economic warfare—through tariffs, technology sanctions, and trade restrictions—middle economies are pivoting toward regional resilience rather than relying on traditional Bretton Woods institutions.
India’s role in this transformation is critical. As a rising economic powerhouse, it is leveraging its market size, technological capabilities, and diplomatic positioning to create alternative trade corridors and financial ecosystems. The growing irrelevance of a U.S.-China duopoly highlights the importance of multipolar economic governance, where institutions like the New Development Bank and AIIB are gaining ground.
The discourse also delved into the challenges of deglobalization. The traditional benefits of an interconnected world—efficiency, competition, and open markets—are now giving way to a more insular economic approach. Supply chain disruptions, exacerbated by geopolitical conflicts and pandemics, have driven many nations toward reshoring and nearshoring manufacturing capabilities. The ongoing recalibration in the global semiconductor industry, for example, underscores the imperative for economic self-sufficiency in critical technologies.

Technology as the New Battleground
Beyond geopolitics and economics, the Raisina Dialogue reinforced the idea that technological supremacy will define global power in the coming decade. Artificial Intelligence, semiconductor supply chains, and rare-earth minerals are no longer just economic assets—they are strategic weapons. The AI race is no longer just about innovation but about control. The West’s response to China’s aggressive technological push is fragmented, while countries like India are crafting their own digital sovereignty strategies, balancing ethical AI governance with economic competitiveness.
The semiconductor war, driven by U.S.-China tensions, highlights a larger struggle for technological self-reliance. Countries that fail to develop robust indigenous technology ecosystems risk falling behind in the global power matrix. The coming years will witness an aggressive race to dominate quantum computing, 6G networks, and AI-driven automation—sectors that will redefine strategic superiority.
Moreover, cybersecurity has become an integral aspect of global power equations. The rise in cyber warfare, data breaches, and misinformation campaigns has elevated digital infrastructure security to the same strategic importance as military preparedness. The dialogue emphasized the need for a coordinated global response to cyber threats, including regulatory harmonization and greater cross-border intelligence-sharing mechanisms.

Climate Security: An Existential Fault Line
The dialogue also laid bare the contradictions in global climate politics. While developed nations champion sustainability, their protectionist economic policies often undermine the very goals they claim to support. The emphasis on “climate-proofing the Indo-Pacific” signaled an awareness that economic growth and sustainability must go hand in hand.
For India, this means leveraging its leadership in renewable energy, smart agriculture, and climate finance to drive a green economic transition. However, for developing nations, the challenge remains—can they afford to prioritize climate goals without financial and technological assistance from the West? The answer lies in pragmatic, localized solutions rather than top-down global mandates.
The conversation also addressed maritime sustainability, particularly regarding the blue economy and the ecological vulnerabilities of small island nations. As rising sea levels threaten to displace populations, a new category of “climate refugees” is likely to emerge, challenging traditional notions of borders and sovereignty. The discussion pointed to the necessity for new legal frameworks to address these emerging crises while ensuring economic development remains sustainable.

The Middle East: Between Diplomacy and Conflict
While the Raisina Dialogue reaffirmed the need for stability in West Asia, the underlying power struggle remains unresolved. China’s involvement in mediating between Iran and Saudi Arabia signals a shifting geopolitical landscape where economic incentives outweigh ideological conflicts. However, Beijing’s reluctance to extend its political influence beyond trade deals reflects an unwillingness to be drawn into regional complexities.
Israel’s continued conflict with Hamas and the broader Israel-Palestine impasse only underscores the diminishing efficacy of global diplomatic interventions. The notion of a two-state solution remains more aspirational than achievable in the current climate, leaving the region in perpetual strategic flux.
Additionally, the energy transition in the Gulf—where oil-rich economies are investing heavily in alternative energy sources and economic diversification—was a key topic of discussion. The United Arab Emirates, Saudi Arabia, and Qatar are positioning themselves as not just energy giants but also hubs for innovation, finance, and global diplomacy. This shift will have profound implications for global energy markets and trade corridors.

The Road Ahead: Navigating an Uncertain World
The Raisina Dialogue 2025 reinforced one undeniable truth—there is no return to the old world order. Nations are no longer bound by Cold War-era alignments; instead, they are crafting fluid, interest-driven alliances. The demise of Western-led multilateralism does not necessarily mean chaos; rather, it opens the door for more decentralized, pragmatic, and resilient governance structures.
India’s role in this transition is pivotal. As a rising power, it has the opportunity to shape new economic, technological, and strategic frameworks that are more inclusive and adaptive to 21st-century challenges. The coming decade will not be defined by a singular superpower but by nations that can navigate the complexities of a rapidly evolving geopolitical chessboard.
The future belongs to those who can balance strategic autonomy with global cooperation, economic pragmatism with sustainability, and technological innovation with ethical governance. Raisina 2025 made one thing clear—only the adaptable will thrive in the new world order.

*Shri Siddhartha Dave is an alumnus of United Nations University, Tokyo, an eminent columnist and a former Lok Sabha Research Fellow. He writes on Foreign Affairs and National Security. Author can be reached at siddhartha.dave@gmail.com