Barely two weeks ago, on 10 July, amidst fanfare, Prime Minister Narendra Modi met his Pakistani counterpart Nawaz Sharif in Ufa, Russia, on the sidelines of the Shanghai Cooperation Organisation summit and agreed to resume the stalled India-Pakistan dialogue. It seemed unlikely then that the meeting would be the breakthrough it was touted as, given the history of such bilateral hopes. The attack in Gurdaspur in India’s Punjab, on 10 July, proves this. Typical of the India-Pakistan dialogue, multiple factors determine the bilateral, but any terrorist attack can potentially smash it. read more
On July 15, the People’s Bank of China (PBC), China’s central bank, released a long-awaited document "Guiding Opinions on Promoting the Healthy Development of Internet banking". It lays down the broad policy framework to govern internet finance in China, defines the term ‘internet finance’ specifically, and assigns jurisdiction of the sector to various Chinese regulatory bodies. The release is timely, given that a largely unregulated sector is already a billion-dollar industry which the Communist Party of China (CCP) hopes will bring innovation, entrepreneurship and private capital into the Chinese economy. read more
The Afghan government’s talks with the Taliban on July 7 – the first of their kind in recent history – are a vindication of President Ghani’s risky policy of outreach to Pakistan and China, whose support has been instrumental in bringing the Taliban to the negotiating table. As negotiations proceed, however, the negotiating parties should be conscious of the role of the region’s other major power, India, which has been notably absent in recent discussions. In the long-term, a sustainable peace in Afghanistan will be difficult to achieve without New Delhi’s cooperation. read more
The revised Indian Financial Code, put in the public domain by Finance Ministry, has divided economists, observers and experts into two distinct, sharply-delineated camps. On one side are those who are desperate to clip the Reserve Bank governor’s wings, and on the other are those who want his unspoken, uncovenanted autonomy to remain untouched, uncompromised. In the midst of this brouhaha, the discussion about reforming the central bank’s governance framework has fallen through the cracks. While the debate about reducing the Governor’s powers rages endlessly, read more
News & Analysis
India 5 August 2015
20 July 2015 - 25 July 2015
This paper introduces the dilemma of both India and Russia, whose state-owned energy companies are forced to operate in a region where Chinese government corporations have been dominant.
As China goes global it is making a concerted effort at improving its international image and boosting its soft power. But is this strategy translating into an improvement of its soft power quotient?
In the last of a trilogy of books, Shashi Tharoor's volume of 100 articles poses numerous question and critiques of the one-year old Modi government, while also offering "Shastra" on a range of topics. However, in many cases his criticism are unfair and easily applicable to the previous Congress government