Oliver Stuenkel's book provides a well-researched account of the evolution of BRICS – starting from the forum’s inception in 2009 to the present – and the interactions between Brazil, Russia, India, China and South Africa on global issues.
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The GCC finds itself engulfed by a perfect storm – due to the oil price fall and the re-emergence of Iran on the world scene. While the GCC is forced to undertake politically challenging reforms and confront the regional challenge of Iran, there lies a great opportunity for India to strengthen their economic as well as security ties.
The Chinese Renminbi is now the first in the developing world to find a place in IMF’s basket of reserve currencies. But the road to its inclusion becoming effective is still almost a year away. In this time, China will likely further integrate its currency with global markets
The U.S.-driven Trans Pacific Partnership agreement between 12 countries, which is aiming to become the new standard of world trade, impacts domestic systems globally. For India, it will skew investment and intellectual property rights, and especially the debate over the Investor State Dispute System which allows companies to challenge sovereign rights and public policy.
The Ecuadorian president’s first-ever state visit to India this month was cancelled, possibly because four of seven helicopters supplied by HAL to Ecuador have crashed. But this hurdle can be overcome, and ties between the two countries can expand beyond defence and oil to sectors such as pharma, IT, and agribusiness.
The IMF will soon consider an important change to its policy on lending that may help continue its bailout programme to Ukraine, even if Ukraine defaults on a loan from Russia that matures in December 2015. If it does make the change, the IMF could be staking its credibility to favour the West’s political agenda
The third India-Africa Forum Summit in New Delhi concluded on 29 October 2015. It is time that India begins work towards elevating the partnership with Africa and move ahead from the lofty ideals and grand vision statements. A conscious effort to shift gears and pour in investment in Africa is the need of the hour.
Akshay Mathur, Director of Research, Gateway House, attended the Think Tank (Think 20) Summit in Antalya, Turkey. He comments on the Turkish presidency and India's contribution to the G20.
The U.S. is urging India to alter its IPR regime, and the potential impact on prices in the pharmaceuticals sector is of concern to African countries that depend on India for low-cost generic medicines. The recent India-Africa Forum Summit in New Delhi sought to address this issue, but it will be a challenge for India to balance competing pressures.
Changes in how India plans to approach its relationship with Africa were evident at the recent India-Africa Forum Summit, including the wider representation of African countries, and Modi’s push to forge a united front with Africa at multilateral institutions on trade and other issues. But beyond these, gaps in the India-Africa alliance remain to be addressed.