GLOBAL GOVERNANCE: EMERGING POSSIBILITIES AND DIVERSE CHALLENGES TO INDIA Madhu Kumari Associate professor of political Science, D.S.College,Aligarh Dr.B.R.Ambedkar University, Agra UP. Contact no. 91-9412617235 Email id:
[email protected] GLOBAL GOVERNANCE: EMERGING POSSIBILITIES AND DIVERSE CHALLENGES TO INDIA In a simple and broad-based definition of global governance, the term is used to designate all regulations intended for organization and centralization of human societies on a global scale.1 It may be defined as "the complex of formal and informal institutions, mechanisms, relationships, and processes between and among states, markets, citizens and organizations, both inter- and non-governmental, through which collective interests on the global plane are articulated; Duties, obligations and privileges are established, and differences are mediated through educated professionals. 2 A global governance perspective analyses emerging spheres of authority as both geographically and functionally fragmented; the range of a formal or informal rule system’s capacity to generate compliance on the part of those persons towards whom their directives are issued; and the acquisition of authoritative decision-making capacity by non- state, state and supra-state actors .3. It stipulates no hierarchy between actors; the mode of steering is predominantly non-hierarchical and often based on arguing rather than traditional bargaining.4 Abstract Post- cold war politics witnessed changes in power equations and a new world order emerged with new actors of global governance. Global presence of these actors has been endorsed by the international community. In this process, the world have recognized India’s achievements and admitted India in the new architecture of Global Governance along with Brazil, China and South Africa and assigned her larger global role to play.