Digital Manufacturing in India can bring in a new age globalisation of manufacturing, and developing resilient, transparent and trusted supply chains. With the help of MNCs, start-ups and government in accelerating digital adoption, and India must become part of the emerging global trading system, using the COVID-19 pandemic to accelerate digitisation.
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The Task Force led by Gateway House will study economic and technological cooperation between the four like-minded democracies in the Indo-Pacific.
Following the lead set by the U.S. and Israel, India is now tapping its domestic start-up ecosystem for technological innovation and self-reliance in defence. Indian entrepreneurs are developing niche technologies which will boost the Indian military’s combat capabilities. They are also enabling the much-needed commercial synergy with Silicon Valley venture firms.
In March 2021, the World Economic Forum (WEF) announced the addition of 15 manufacturing facilities to the prestigious Global Lighthouse Network. Two Indian companies were on the list – the Tata Steel facility in Jamshedpur, and the ReNew Power facility in Hubli. This is twice the number of Indian companies on the list last year. Many more facilities will likely be added to the WEF list, as several prepare to graduate their manufacturing businesses to keep up with Industry 4.0.
Canadian Prime Minister Justin Trudeau's controversial wading into the Punjab farmers' protests has obfuscated the hard work done by diplomats and think tanks on both sides over the past three years, to boost the bilateral. India and Canada have much to gain from each other's strengths in technology, natural resources and investment, and even more if they collaborate internationally to develop an alternative to the current bipolar world order
The current notions of physical ‘permanent establishment’ or tangible locational nexus are not well-suited for the taxation of modern digital economy, especially for taxation of business income, rents or revenue creating activities. In a Covid-19 wrecked global economy, where government revenues are under severe stress, there is a compelling case for a market country or the value-creating jurisdiction to tax the income or rents attributable to the concerned market or location.
With Oracle, Walmart and U.S. venture capitalists now holding the majority of TikTok Global’s shareholding, China’s closed digital world gets a breather, and the possibility of a truly open global Internet, gets a blow. China has won this round.
On 23 July, Gateway House co-hosted a webinar with Konrad-Adenauer-Stiftung on QUAD or QUAD?. The panel included Dr.C Raja Mohan, Dr. Malcolm Davis, Tetsuo Kotani, Alexander Slater, Peter Rimmele and Manjeet Kripalani
The recent rush of U.S. capital into India’s digital future, and India’s recent structural reforms, is the impetus for an attractive collaboration between the U.S. and India. To really succeed, the U.S. will have to support India with the same kind of technical assistance and best practices in areas like regulation, distribution, and innovation, that it gave China. The alternative is for India to follow Europe’s regulatory model, which places less of an emphasis on job growth and innovation.
The shifting trends in trade, especially given the growth in communications capacity and reduced cost of computing have altered traditional economic development. India and Canada have a shared commercial interest in E-trade. Both countries need to align their resources to frame trade rules of the new digital economy, to mutual benefit.