Courtesy: India Africa Forum Summit 2015
Prime Minister Modi’s tour of four African countries will seek to build upon recent high-level visits to the continent, providing fresh impetus for the reinforcement of India-Africa relations in matters of diplomacy, business, security, and energy while putting to rest criticism of India’s visibility deficit in Africa. However, the onus to harness this momentum now lies with other stakeholders.
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With Prime Minister Modi set to embarking on a four-nation tour in Africa, we recall the chat we had with Kapil Kapoor, Director of the African Development Bank, on the sidelines of The Gateway of India Dialogue, where he highlighted the kind of opportunities that have arisen in Africa to provide energy and food security.
Courtesy: Wikipedia
At a recent international seminar on BRICS Studies, in addition to the predictable themes such as building a multipolar world order and the One Belt One Road project, fresh ground was also covered, including the contours of the New Development Bank and the potential impact of the refugee crisis on BRICS countries.
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GLC Policy Conclave Session 1: The New Financial World Order Shashank Bengali (SB): So, Rajrishi, can you tell us basically what the circumstances were that led to the development of these new multilateral institutions? How did we get here? Read more
Courtesy: Wikipedia
The New Development Bank initiated by BRICS countries can reform and democratise global economic governance. But to reach this goal, in this critical period when the bank is preparing to operationalise, it must formulate an innovative institutional design. This article outlines four guiding principles for such a structure
Courtesy: MEA/Government of India
India’s engagement with Africa currently is trapped in a discourse from another era. With a change in governance structures and demographics, African countries are keen to elevate the level of trade and investment ties. India is in an advantageous position due to historical linkages but China and the U.S. are already ahead in the game
Courtesy: MEA/Government of India
Looking back at the 2008 financial crisis, when governments had to resort to bail-outs to keep economies afloat, the BRICS member countries have decided to set up a New Development Bank which will provide for a contingency fund. This initiative aims at building an alternate financial structure in terms of trade among the member states as well as creating a safety net
Courtesy: MEA/Government of India
The launch of the BRICS bank can now give the member countries confidence to experiment with other geoeconomic ambitions. Incubating a non-dollar financial architecture can be the next goal. There are existing models to build upon but India will need smart economic diplomacy to secure its interests
Courtesy: idevie.com
The New Development Bank was formalised at the just concluded meeting of the leaders of the BRICS nations in Fortaleza in Brazil this week. The location is to be Shanghai. The more appropriate and natural choice for locating the bank would have been Mumbai. There are several reasons why
The establishment of a BRICS Development Bank will be among the prime topics of discussion at the BRICS Summit on March 26. Gateway House’s Akshay Mathur interviews former Indian Ambassador and Foreign Secretary, Shyam Saran, on the prospects and viability of alternate financial architectures.
