A group of states which are not formally aligned with or against any major power bloc forms the Non-Aligned Movement (NAM). The organization was founded in Belgrade in 1961. After the second World War, the world was bi-polar with two super powers vying to hold the maximum authority. But several countries like India, Indonesia etc at that point of time had just gained their independence from colonial rule and refused to align with either of the super powers leading to NAM. Owing to their new sovereign status after years of exploitation through colonial rules in majority of the cases these nations were economically under developed and poverty was the main issue faced by these countries. This led to most non-aligned countries to be termed as Least Developed Countries or LDCs.