Fareed Zakaria, editor of Newsweek and foreign policy pundit, has asserted that the Indian state is too weak to harness power to purpose, national or international. The proposed Bretton Woods II summit that the European Union (EU) and United States (US) have summoned offers an opportunity for India to prove the sceptics wrong. This summit is an opportunity for Indian leaders and intellectuals to step up and help shape the new global economic architecture.
It may well be that this whole enterprise will be one of obligatory, crisis-induced platitudes and piety, leading to nothing. But it is still important for India to begin developing and articulating its vision and objectives for Bretton Woods II (BW II).