Context: As the world transitions from the "new world order" established by leading powers in the late 1940s, to a newer ‘contemporary world order’ defined by diffused and decentralised networks of power, questions about its nature, scale, and direction loom large in the international community. Multiple perspectives and explanations characterise the paradigm of the current world order, and the answers to these questions remain inconclusive. In such a situation what should India's role be? How do we cement our place under prevailing circumstances? In Big Picture we analyse the emerging world order. 
Key Points

• The 5C's China, Cyber domain, Climate change, Contestation and Conflict.
• Its an era where we have lots of Cs at play.
• The balance we shift from cooperation to competition with China.
• The major problem which India is facing right now is our Energy security which we making out from outside India. And in this the problem is any disruption to this supply will finish what we call as" Asian Century"

Changing World Order in the Recent Times

New Cold-War: With the collapse of the Soviet Union in 1991, the world order turned from being bi-polar to unipolar. However, the current world order is without a systemic equilibrium, which is essential to the maintenance of international stability.

• This is due to the emergence of a New Cold War between US & China, which amounts to a struggle for a new distribution of power—political, economic and military.
• Moreover, the differences between the US, China and Russia have become intractable.

Retrenchment of US: The prominent feature of the current world order is the US’s retrenchment from global affairs. This can be reflected by the withdrawal of the US the Paris Climate deal, JCPOA, etc.

• This retrenchment has led to a severe blow to multilateralism and globalisation.

Indo-Pacific as a New Sub-System: The rise of China has been redrawing the balance of power in the South-China Sea. This has led to countries like US, India, Japan, etc., colluding in framing Indo-Pacific as a new sub-system in international affairs.

• Indo-Pacific refers to the Indian and the Pacific Oceans between the east coast of Africa and the American west coast and their several littoral countries.

Declining Role of UN: The United Nations Security Council (UNSC) is the UN’s main executive body responsible for maintaining international peace and security.

• However, the veto powers possessed by the UNSC’s five permanent members are used as an instrument to shore up their geopolitical interests, regardless of the disastrous consequences for the victims of armed conflict as can be seen in Syria, Iraq, etc.

Current Challenges For Indian Foreign Policy
Aggressive China: At the end of the Cold War, India ought to strengthen cooperation with China on the multilateral front with a view that it would also help generate the conditions for resolving the boundary dispute and expand the areas of bilateral cooperation.

• However, this strategy has been proved counter-effective as China now has assumed an aggressive posture towards India. It can be seen in recent Galwan Valley Clashes.
• Moreover, China protects Pakistan from the international pressures that India has sought to mobilise at various fora.

Compromising Non-Alignment: To counter China, India has colluded with like-minded countries, forming Quad grouping (US, India, Japan, Australia).
However, this convergence with the US has tarnished India’s image of non-alignment and deteriorated relations with traditional partners like Russia.
Decoupling From China: Opportunity for India

• China has been the factory to the world, but global investors have been seeking a gradual decoupling from China. This is due to the increasing cost of production and the trust deficit in China after Covid-19 pandemic.
• This provides India with an opportunity to become the world's manufacturing hub and stable economic power. This will help India in assuming leadership roles and maintaining a stable global economic system.

Road Ahead

• There isa clear restructuring of the world order, things are not what they used to be a few decades ago. The challenge from China is real and democracy around the world are concerned. It is good for us to be associated with like minded countries through grouping like the Quad but we have to safeguard our own interests. India has emerged on the global stage with its diplomacy we however have to do much more, if we can get our act together on the economic front we too can be a power to reckon with in the years to come.