The world is entering an era of reglobalization – an era built not on retreat but on diversification, trusted partnerships and systems resilient to shocks, India’s former foreign minister Nirupama Rao said on Wednesday at the 52nd foundation day celebrations of the Indian Institute of Management in Bangalore (IIMB). In her Foundation Day lecture on “Beyond Borders: Preparing for a World in Transition,” Ms. Rao outlined the changes that are reshaping global politics, economics, and leadership.
“The vocabulary of global affairs has shifted. Today, geopolitics is no longer just about territory and power. Supply chains are the new frontiers, technology is the new territory, data is the new diplomacy, climate is the new line of conflict and narrative is the new battlefield. In short, geoeconomics now determines corporate destiny,” she said.
Ms. Rao said this transformation represents reglobalization, not deglobalization, with the world reorganizing itself to be resilient. “The world operating system is moving towards multi-polarity and power is no longer vested in one capital or expressed through one model. India has been instrumental in this shift and that is why India’s G20 presidency mattered,” she added.
She identified India’s strengths such as democratic stability, demographic vitality, digital inclusion and a deepening manufacturing base as the foundation of the country’s growing global role. Elaborating further on what leadership in this new era requires, Ms. Rao identified the “capitals of tomorrow” – trust, data, demographic, climate and cultural capital and said India has strengths in all five. She emphasized the need for integrity and accountability, especially in an era dominated by technological disruption.
“Leadership in technology must be ethical. Therefore, we must lead not only in the development of artificial intelligence, but also in the field of governance of artificial intelligence – transparent, accountable and human-centered. Technology must serve humanity, not replace it,” she said, adding that ethics should go beyond compliance.
As for climate change, Ms. Rao called it a determinant of both economic fate and national security. “The climate discourse must shift from blame to responsibility and from promises to implementation. Sustainability must become the language of business, not just politics.”
She reiterated that India is ready to shape the global agenda, adding, “India is no longer waiting to be invited to the table, India wants to co-write the script.” She urged IIMB and other higher education institutions to go beyond teaching problem solving and instead cultivate future building. The world needs leaders who are economically intelligent and geopolitically aware, data-driven and human-centered, anchored in meaning. The age of single-discipline leadership is a thing of the past, this is the age of integrated leadership, she said.
The Foundation Day celebrations also included the Alumni Service Awards (ASA), which were introduced in 2023 to honor alumni who have made lasting contributions to the institute and alumni ecosystem. This year’s honorees were Navin Kumar (PGP 1999), Karan Bhagat (PGP 2001) and Michael Sequeira (PGP 2010).
Published – 29 October 2025 18:49 IST
