The third Gateway of India Geoeconomic Dialogue was held at the Taj Mahal Palace Hotel, Mumbai, on 12-13 March, 2018.
The theme of the conference, Designing India’s Global Economic Engagement, reflected the intensifying complexity of global governance and economics at a time when the new rules of a technology-driven global order are being framed. With India now in a position to participate in the new rule-making process, the discussions were particularly relevant.
This signature event was co-hosted by Gateway House and the Ministry of External Affairs. The Dialogue began on a high note with a wide-ranging exposition of the exciting changes underway in the Indian economy by Gen. (Dr.) V.K. Singh, Minister of State for External Affairs, and Urve Palo, the Minister of Entrepreneurship and Information Technology of the Republic of Estonia, who brought alive the possibilities of borderless commerce and virtual citizenship.
Inadequately understood consequences of the new era of trade in services, digitisation of economies, and appropriate legislation for new technologies, were examined in depth and with wisdom by experts and practitioners. The interplay of three countries – India, China and the U.S. – which are marking their positions in these emerging platforms, suffused the Dialogue. The actions and ideas from these three countries will shape the future eras of economics, technology and politics. China, in particular, was the subject of incisive discussion – the internal logic which determines its economic decision-making, its impact on the global economy and the myriad ways to engage profitably with this Asian giant.
Rajiv Kumar, Vice Chairman of NITI Aayog, pointed out the various initiatives of the government which have brought the Indian economy to the cusp of formalisation. A focus on building physical infrastructure as also a robust digital economy, will ensure a sustained 7% and more growth rate for the next decade. This advancement is enabling India to make a commensurate contribution to global governance, through multilateral fora like the G20, which are attempting to regulate the transformations underway.
There was high-level representation from 35 countries – senior officials and 40 experts who were joined by diplomats and representatives of 19 international and 12 Indian think tanks.
The GoIGD coincided, as is now customary, with a meeting of the Think20 group, which is the ideas bank for the G20. This year, the presidency of the G20 rests with Argentina, many of whose issues and interests, such as agriculture and the future of work, converge with India’s.
A roundtable discussion of the Think20 was officially held by Gateway House under the banner of the 2018 Argentine Presidency. The Indian and Argentine G20 sherpas opened the discussions, which preceded the Geoeconomic Dialogue. Gateway House hosted this meeting in collaboration with the Argentine Council for International Relations (CARI), with support from Indian megacorporations, like United Phosphorus and the Godrej Group.
Mumbai’s business community and a galaxy of global experts on governance and economics formed the audience of this conference. Indian companies, such as Tech Mahindra and the Exim Bank of India, development corporations like Maharashtra State Industrial Corporation and Germany’s Konrad Adenauer Stiftung, were instrumental in supporting Gateway House and the Ministry of External Affairs. The stars of Mumbai business and the Maharashtra government interacted with scholars and policy-makers, both Indian and foreign. In its third year, the Gateway of India Geoeonomic Dialogue has become a must-attend on the global geoeconomic conference calendar.
Gateway House continues the commitment to its founding mission to bring business and diplomacy together.
Neelam Deo, Director
Manjeet Kripalani, Executive Director
Gateway House: Indian Council on Global Relations
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This report encapsulates the discussions of the The Gateway of India Geoeconomic Dialogue 2018. You can watch the full conference here.
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