The Thought League: India needs to become a rule maker rather than a taker, says Cyril Shroff

In Season 2 of the Thought League, the focus is on global geopolitics in this new changed world. The power struggle of the future will be on new grounds in a changed environment and the digital revolution will play a big role in it. CNBC-TV18's Nisha Poddar caught up with Jan Janmejaya Sinha, Chairman-India of Boston Consulting Group and Cyril Shroff of Cyril Amarchand Mangaldas.

Sinha said, “Privacy in an authoritarian regime is different from privacy in a liberal democracy. So issues around data localization, around monopolies about taxation, around immigration, around cyber, around sanctions will all be areas that will lead maybe to conflict and the creation of different blocks in the technology sphere. So within this is what we will see the emergence of the new geopolitics and in this there will be areas which countries like India will in some places be cooperating and other places will be competing and in some places, being very, very careful about the areas and issues that we will face conflict on.”

On what is India’s role in these global institutions in its own benefit Shroff said, “Just to sort of build on the current theme, a lot of the future rivalry will be fought in terms of influence. One of the favorite playgrounds for that will be international institutions, whether it is IMF, World Bank, WTO, WHO and the G20 and India is going to be taking over the presidency of G20 in the near future. So there is a huge opportunity. But what China has done over the years, it has got very senior people in many of these global institutions and India needs to do likewise. It needs to get to a position where we become a rule maker rather than just a rule-taker.”