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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.
Courtesy: Manufacturing Business Technology
The U.K. is out of the EU, and re-positioning itself into the idea of Global Britain, seeking partnerships into diverse groupings and regions. India was an early strategic, defence and digital outreach, but a serious pivot has been made to broader Asia for trade and investment linkages, with vigorous follow-up. The re-entry and acceptance of Britain in Asia, has implications.
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The Jan 26 riots by the protesting Punjab farmers, is a set back both to the reform of India's domestic agriculture sector, and to the country's external agriculture trade. Nevertheless, willing farmers and communities can improve their engagement with the market, start inter-state trade, and build the farming infrastructure necessary to prepare for a fully free agriculture market. This will ready India to fulfil its commitments and find its rightful place in the international trade system.
Courtesy: asean.org
Vietnam had a busy 2020, starting with its chairmanship of ASEAN and ending with the signing of RCEP, and a free trade agreement with the EU. All were completed successfully despite the pandemic, which it also handled well. It has revealed Vietnam’s dexterity and confidence, good management and societal control and raised the country’s global profile.
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Saudi Arabia hosted the G20 Summit on 21-22 November, this year. A strategy to protect the global economy, which is the heart of the G20’s existence, was reflected in the updated G20 Action Plan, a clear by-product of the effect of the COVID-19 pandemic. Beyond the immediate, is the plan for a resilient and long-lasting recovery.
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The recently concluded ASEAN and EAS Summit saw Prime Minister Modi highlighting the Indo-Pacific region. That’s because a cohesive, responsive and prosperous ASEAN is seen as vital to India's Indo-Pacific Vision and to Security And Growth for All in the Region (SAGAR). India’s decision to opt out of RCEP, even when all ASEAN member countries are signatories to that agreement, will mark a shift in how India enhances bilateral engagements with ASEAN nations with greater strategic intent.
Courtesy: Gateway House
In November this year, India will be hosting the Shanghai Cooperation Organisation (SCO) exhibition “Shared Buddhist Heritage” to coincide with the SCO Council of Heads of Government Meeting and two Ministerial Level Meetings. This paper recommends a theme on India’s Buddhist legacy in the SCO, which ties together three important Buddhist historical narratives (based on archaeological evidence), that can add heft to India’s leadership in reviving people-to-people ties through Buddhism amongst the eight member nations
Courtesy: Gateway House
The expansion in membership of the Shanghai Cooperation Organisation (SCO) is an opportunity to review, possibly revise and widen the scope of its Charter to make it more suited to address the concerns of all its members, including new ones like India. This paper recommends what the changes in the SCO Charter ought to be by comparing it with the successful ASEAN charter.
Courtesy: Gateway House
India will host the 19th meeting of the Council of Heads of Government on 30 November 2020. This will be the first meeting of the grouping’s second highest organ, hosted by India. The significance of the event lies in the timing – India’s relations with two fellow memberstates, China and Pakistan, are at an exceptionally low ebb; yet the clear message from the SCO Secretariat and other member-states is: India’s presence in the SCO is highly beneficial to the latter and should be fully leveraged to strengthen it as an important and upcoming intergovernmental organisation. This necessitates a fresh appraisal of options for India.
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Now that the India-U.S. 2+2 meeting has ended, Indian officials are preparing for a hectic season of summiteering in November, from the SCO to the BRICS and the G20. All will give India global attention, and help the country prepare its positioning at home and abroad.