Modi and Carney: Creators of the New Global Order.....by Lovleen Gill
The resurgence of economic nationalism has shaken old conventions in world politics and shaken confidence in the rules-based international order. This was most clearly demonstrated during Donald Trump’s tariff war, which targeted not only adversaries but also allies.
India—once a favored partner in America’s Indo-Pacific policy—and Canada, a good neighbor and time-tested friend, both fell victim to tariffs. The message was clear: in a world driven by self-interest, even trusted partners can no longer take stability for granted.
This period of disruption has forced middle and emerging countries to rethink their place in the global system. This is where the leadership of Prime Minister Narendra Modi and the ideas expressed by Mark Carney take on particular significance. Together, both—through their actions and through their ideas—point to a balanced global order that is based on cooperation and respect for rules.
In his speech at the World Economic Forum in Davos, Carney spoke as the voice of a group that is often overlooked—the “middle powers” of the developed and developing worlds. His speech vividly captured the discontent of countries caught in the throes of superpower conflict and economic crises.
More importantly, he gave the world a new vocabulary—one that emphasized the shared responsibility to narrow the growing gap between developed and developing countries and to protect a shared future. Carney’s message was clear: The rules-based order is under pressure, but it is neither obsolete nor replaceable. It needs to be refreshed, not abandoned.
Prime Minister Modi’s approach in response to the same global instability has been less noisy but no less effective. Instead of rhetoric, India has focused on strategic economic politics.
After a period of trade wars, New Delhi has rapidly advanced high-quality free trade agreements with partners such as New Zealand, the United Kingdom and the European Union.
These agreements provide much-needed stability in international trade, demonstrate India’s commitment to openness and make it a preferred market and destination for global capital. In a time of supply chain disruptions and volatile capital flows, India has emerged as a strong pillar of stability.
The combination of these two approaches—Carney’s ideological direction and Modi’s practical performance—sets the stage for a stronger community. Carney’s visit to India in March, during which a major energy deal is likely and negotiations on the Comprehensive Economic Partnership Agreement (CEPA) are underway, reflects this convergence.
A structured India-Canada free trade agreement would be beneficial to both countries—strengthening energy cooperation, diversifying supply chains, and increasing investment flows.
In a broader sense, India and Canada can become centers of stability in the world. Both are pluralistic democracies, beneficiaries of globalization, but also acutely aware of its inequalities.
By moving forward together economically, diplomatically, and morally, these two countries can keep alive faith in the rules-based order—a system that serves everyone, not just the powerful.
In uncertain times, global leadership is no longer defined by dominance alone. It is defined by building bridges, rebuilding trust, and providing stability when other countries revert to zero-sum thinking. In different ways, Modi and Carney are doing just that—quietly shaping the blueprint for a new global order.
February 4, 2026
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Lovleen Gill, Barrister and Solicitor, Surrey, Canada
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