Courtesy: World Trade Organisation
The ongoing WTO 13th Ministerial Conference in Abu Dhabi is a critical one. Apart from reform of the existing system, negotiations on e-commerce and digital trade should be finalized, as it represents the human capital of growing digital services economies in developing and developed countries. Cooperation will demonstrate that members can produce results and chart a constructive path for the WTO system.
Courtesy: Hindustan Times
South Asia requires resilient and cost-effective regional supply chains. This can be achieved through Indian investment, fostering local linkages while reducing dependency on Chinese financing of regional partners. A new approach enhances India's regional influence, creating a win-win scenario for the entire South Asian neighbourhood in a changing global landscape.
Courtesy: Reuters
The Italy-Africa summit, held on January 28-29, followed Prime Minister Meloni’s Mattei Plan for greater engagement with Africa and the Global South. It gives Italy’s ongoing G7 presidency an edge and a means of addressing immediate concerns like energy and illegal migration. Italy must now follow through on its commitments by coordinating with partner countries, organisations and private sector.
Courtesy: Sputnik India
Tensions in West Asia have disrupted global shipping and revived interest in the Chennai-Vladivostok Eastern Maritime Corridor. Better freight and passenger connectivity between Southern India and Russia’s Far East will open new areas for bilateral cooperation such as the export of machinery, auto parts and engineering goods from India, and progressively integrate the economies of the two countries.
Courtesy: Institute for Security & Development Policy
Japan and the EU have a stable and long engagement with India. As India grows in economic and geopolitical significance, both partners must change the lens they view India with. Japan has done better, especially with investment, and because of a common interest and activity in the Indo-Pacific. The EU is driven by Brussels still and needs must overcome that limitation to better leverage India.
Courtesy: VivaLanka
At the COP28, Sri Lanka’s President Ranil Wickremesinghe stated the need for $12 billion in FDI for renewable energy sources by 2030 to fulfill the country’s climate commitment. For that funding to yield benefits and translate into long-term growth, Sri Lanka must now work hard to enhance its overall business environment and revisit its foreign investment strategy to focus on renewable energy and manufacturing.
Courtesy: The Economist
After a year affected by a sustained polycrisis, global geopolitics in 2024 remains a delicate dance between hope and realism. Ongoing conflicts in Ukraine and Gaza cast uncertain shadows, while Taiwan and the South China Sea present potential flashpoints. Indian diplomacy will have to navigate old and new challenges, while promoting India’s expertise in digital technology, as also managing its own upcoming parliamentary elections.
Courtesy: ETF Stream
The U.S. dollar’s position as the world’s dominant currency has come under pressure as countries and central banks explore alternative currencies and diversify their reserve compositions. While the U.S. continues to dominate global financial markets and the dollar is unlikely to be unseated anytime soon, the challenge to the dollar-dominated uniform currency system has begun.
Courtesy: Economic Times
Sri Lankan President Ranil Wickremesinghe's visit to India last month laid the foundation for a new era of cooperation in key areas like energy, connectivity, trade and tourism. By working together on trade facilitation, central bank cooperation, and IMF capacity-building, market-led regionalism can be the pragmatic way forward for India and Sri Lanka to achieve prosperity.
Courtesy: EDR Magazine
The Italian Navy sees in its multicultural "Mediterranean" nature, a similarity with the Indian Ocean as a connecting fabric that has enabled civilizations to flourish and prosper through the centuries. The shared concerns and cooperation between the Italian and Indian navies, now renewed, can bring prosperity with contemporary connectivity.