As I started to write the editorial, I had the opportunity of hearing Mike Carney’s speech at Davos earlier this morning.  Carney’s speech struck a sober, almost unsettling note. He spoke of a global system that no longer behaves as a system, of rules that exist on paper but not in practice, and of institutions that struggle to restrain raw power. It was not a dramatic address, but a realistic one. The message was simple – the rules-based world order is steadily giving way to power-based politics.

This sense of a fracturing world order (the lead story in this edition of the magazine) now defines our times. The idea of a rules-based international system, anchored in multilateral institutions, international law, and predictable norms of state behaviour has steadily given way to a more transactional, power-based politics. Force, coercion, sanctions, technology control, and narrative dominance have become the primary tools of statecraft.

International institutions remain, but their ability to restrain major powers is weakening. The result is not total chaos, but a selective order where rules apply unevenly and strength determines what is acceptable.

For India, this changing world presents serious challenges, but also opportunity. India has always supported a rules-based system, as it offers fairness and predictability. At the same time, India understands that rules alone do not ensure security. National power, economic strength, and military capability still matter.

India’s response has been careful and balanced. It has avoided taking rigid sides, even as global blocs harden. It has built partnerships across regions while protecting its strategic autonomy. India is strengthening its military, investing in indigenous defence production, securing supply chains, and pushing digital and technological self-reliance. This reflects a clear understanding that credibility today comes from capability.

India also carries a wider responsibility. As a country respected across the Global South and trusted by many in the West, India occupies a unique position. It can engage multiple powers without becoming dependent on any one of them. This is not old-style non-alignment, but a practical approach based on national interest.

The old world order may be fading, but the future is not fixed. India’s conduct, firm yet restrained can help shape a more stable balance. In a world driven by power, India’s challenge is to remain strong, responsible, and independent. That will define its leadership in the years ahead.