The emergence of new powerful countries has significantly changed the view about the erstwhile power equations in the world. The new global order neither shows the sign of bipolarity nor indicates the sustainability of the hegemonic powers shortly. The bloc division between the West (the US and countries of the Western Europe) and the East, led by Russia and China has been complemented by many regional powers as well. As opined by Kochhar, emerging powers with the fastest growing economy and strengthening of military arsenals slowly but steadily influence the decisions in different international fora. Moreover, the declining relevance of large-scale institutions like the World Bank, WHO, and others and the recent shifting of the focus to regional and amorphous formations such as APEC, ASEAN, and BRICS have indicated the rising powers of the regional players.