Courtesy: The Strategist
Despite its natural advantages, the Bay of Bengal region lags economically, in part due to insufficient connectivity between the member nations. Improving financial connectivity between them is the first step to easing movement of goods, services and people. Greater financial collaboration also can help the region mitigate the impact of ongoing geopolitical upheavals that have caused food and energy prices to rise.
Courtesy: @BIMSTECInDhaka
June 6, 2022, marks 25 years since India, Bangladesh, Sri Lanka, Bhutan, Nepal, Myanmar and Thailand joined hands to create BIMSTEC and infuse South Asia with economic and institutional cooperation. The strategic geography of this grouping has the potential to bring new synergy between South Asia and the recently-instituted Indo Pacific Economic Framework, ASEAN and the Quad, for a prosperous, secure Bay of Bengal Community.
Courtesy: @BimstecInDhaka
The rejuvenated BIMSTEC, with a new charter in hand, is now expanding its ambition and mission. One such area is climate change, which needs greater attention as it will have implications for the Bay of Bengal and beyond. With their unique climate conditions and action plans can together create a model for regional cooperation.
Courtesy: Druk Green Power Ltd
The Bay of Bengal is gaining relevance as a significant sub-region within the Indo-Pacific. Despite its importance to regional security, there is inadequate financial, physical, and energy connectivity. India must use its strategic and political pre-eminence and influence in the sub-region to pursue deeper connectivity with Bangladesh, Myanmar, Thailand, Nepal, and Sri Lanka and to block China's growing influence.
Courtesy: Shutterstock
India’s oil consumption and imports are likely to resume their upward trajectory as the economy opens up, after a temporary drop due to the pandemic. To secure its energy needs, the country should shift course from investing in oil and gas assets of emerging economies to those of developed nations. The oil-rich Organisation for Economic Co-operation and Development (OECD) countries, such as Canada, Norway, and the U.S. can be given special consideration.
Courtesy: Shutterstock
The OPEC’s proposed cut in oil production earlier this week may not enable the energy market to recover. Recovery is likely only after COVID-19 is brought under control, but there are ways India can capitalise on the current low oil prices for its own energy security
Yuan Peng, Vice President, and Dr. HU Shisheng, director, respectively of the Institute of South & Southeast Asian and Oceanian Studies, China Institute of Contemporary International Relations, Beijing, spoke to Gateway House about working towards ‘the final goal of denuclearisation’, India-China relations since the Doklam stand-off and addressing security concerns raised by the Belt and Road Initiative
Courtesy: Michael Trolove/WikimediaCommons
Growing instability in the region make the planned Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline seem more like a burden than a solution to India’s hunt for alternative energy sources. Is it wise for India to move ahead with the $7.6 billion project?
