Get Honorary PhD

Global Ranking: Preparing to crack down on global ranking agencies running the agenda, India adopted a tough stand

Pankaj Prasad
Global Ranking Agency
Global Ranking Agency

The Government of India is preparing to crack down on the agenda-driven global ranking agencies.

The Government of India is preparing to crack down on the agenda-driven global ranking agencies. Sanjeev Sanyal, a member of the Economic Advisory Council to Prime Minister Modi, has given this information. In an interview, Sanjeev Sanyal said that India has started raising this issue in international forums. He said these rankings are prepared by a small group of think tanks in the North Atlantic and funded by three or four funding agencies and they are driving the agenda.

It affects business and investment

Sanjeev Sanyal said that this is an attempt to create a wrong narrative, which has a direct impact on trade, investment and other activities. Let us tell you that the report of the New World Press Freedom Index was released in the past, in which India has been placed below Afghanistan and Pakistan. At the same time, India has been given a place below Pakistan and Bhutan in the Academic Freedom Index.

Flaws in the methodology of rating agencies

Sanjeev Sanyal said that in the last few years, India has raised this issue in many meetings and has told that institutions like World Bank, World Economic Forum and United Nations Development Program are responsible for preparing the reports of the global agencies from which they prepare the reports. There are flaws in the methods. Explaining the importance of these global rankings, Sanyal said that these ratings are also taken into account while taking decisions in environmental, social and governance. Many international banks give loan subsidy on the basis of environmental, social and governance.

Steps taken by the government

According to Sanyal, the problem is that there is a problem with the basis on which these are estimated or calculated. The way things are going, developing countries will be left out of the discussion. A government official told that the matter has been raised in the Central Secretariat, after which dozens of meetings have been held on this issue this year. Many developing countries believe that the way rating agencies prepare reports, they seem to be a new form of neo-colonialism. Various Ministries of the country are in constant discussion with these rating agencies.