Kathmandu [Nepal], October 24 – Nepal’s Finance Minister Swarnim Wagle and India’s External Affairs Minister S. Jaishankar discussed the future of international cooperation amid shifting global power dynamics at the NDTV World Summit 2026 on Saturday.
The discussion held during a session titled “The Geopolitics of Sovereign Choice,” focused on changes in the global order, multilateral cooperation and the growing importance of regional and sub-regional partnerships.
Wagle said multilateralism in trade and economic affairs had gained prominence after the Cold War but its foundations had weakened in recent years. He questioned how countries could strengthen bilateral, trilateral and regional cooperation in areas such as disaster response, nutrition and clean energy amid increasing economic fragmentation.
He also raised the question of whether cooperation should rely on formal institutions or mutual understanding between partner countries.
Jaishankar said countries had increasingly favoured practical cooperation over formal commitments in the past two decades. He cited the International Solar Alliance and BRICS to illustrate how cooperation could take different forms depending on the partners and objectives.
He said India had established around 50 groupings over the past decade reflecting growing interest in flexible partnerships that deliver tangible results with lower administrative costs.
Earlier, Wagle thanked India for its prompt assistance to Nepal following the August 26 floods in the Bhotekoshi-Trishuli river systems and recalled its support after the 2015 earthquake.
