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Canada is committed to playing a larger role in the Indo-Pacific and has adopted a pragmatic approach to achieving its five objectives. These are promoting peace and security; expanding trade; connecting people; building a sustainable and green future; with Canada serving as an active partner in the Indo-Pacific. India will do well to understand Canada's compulsions and work with it with enthusiasm.
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India will be president of the G20 in 2023. The world’s most influential economic governance body is facing an existential crisis, where the major powers have fallen out. With geopolitical currents redefining geo-economics, India needs to be ready to emerge as the chief global diplomat.
Courtesy: The Print
The shadow of the Ukrainian war was visible at the G7 summit. Anti-Russian formations were expected, but the extensive reference to China drew attention. The leaders did their part by extensively discussing challenges relating to climate, energy, environment, health, and food security. It is now for the G7 governments to deliver, to be taken seriously.
Courtesy: The Print
Pro-Khalistan organisations have collaborated with the ISI to disseminate anti-India narratives and influence the Indian diaspora. While this has little traction within the country, there is a need for India to extend support to those expatriate Indian communities which are actively countering the misinformation spread by these organisations and Pakistan-sponsored fringe groups.
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Sanctions are an important foreign policy tool, used especially by the West against its adversaries. Now, these rivals are retaliating with counter-sanctions. Are these effective? How does this impact global politics? Where does India stand in this free-for-all sanctions era?
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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.
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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
Trade patterns are influenced by geography. To facilitate strong trade relations and strengthen domestic economies, India & Canada must leverage ASEAN through the digital shift and build on beneficial relations with nations amidst the coercive behaviour of hegemonic powers.
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Geopolitical shifts during the Covid-era is justifying a closer convergence of national perspectives between India and Canada. It remains now to align the bilateral’s common interests and values, with common goals.
Courtesy: Gateway House & CIGI
India’s energy future needs to be low-carbon, climate-resilient and protected against price fluctuation. It can meet these needs by investing in Canadian oil companies, given the country’s political stability and rule of law. India can also attract greater foreign direct investment at home through the issuance of green bonds, a climate finance debt instrument that addresses environmental and climate-related challenges. This paper explores the regulatory perspective of the green bond market.
