The sanctions against Iran impacted the country’s oil, banking, aviation, and other sectors, and had a major humanitarian impact. But neither is armed attack a more suitable method in most instances to address allegedly recalcitrant states. What then is the middle ground? And can the UNSC assume a more proactive role in this context?
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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.
Attaining higher GDP remains primary economic policy across the globe. However, the answer to achieving Sustainable Development Goals lies not in the crudity of economic numbers but in a holistic measure of both economic dynamism and social-environmental well-being.
While the closing of borders to refugees in Europe and West Asia could be interpreted as proof that national borders are more important now than ever, the sheer numbers of refugees make strengthening borders a severely inadequate solution.
On 14 September, a UN General Assembly resolution called for reform of the Security Council (SC). But when the world is in turmoil and alternative multilateral institutions are emerging, this may be a case of too little being done too late. It is imperative now for the SC to include India, Brazil, Germany, and Japan and adapt to a rapidly evolving world.
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
External integration—which the Trans Pacific Partnership and the Regional Comprehensive Economic Partnership will generate—has policy implications that India must manage well and quickly. As a first step, India can introduce the GST, among other measures, in order to become a more unified domestic economy.
If the Transatlantic Trade and Investment Partnership moves ahead after further negotiations were held in July, Indian exporters could be disadvantaged. Instead, India must be ready to use the further opening up of huge markets across the Atlantic, and adopt trade policies that mix regionalism and multilateralism.
India, along with China, will present the case for food security protections at the WTO Ministerial Conference in Nairobi in December, where India will find it difficult to maintain its integrity as both a leader of G33 countries and a nation that has an expressed stake in the expansion of global trade. But it should stick to the G33’s Bali proposal for flexibilities for developing countries.
The second Forum for India and the Pacific Islands in Jaipur on August 21 will be a historic summit that brings together the interests of India and the 14 island countries of the Pacific. It is India’s acknowledgement of the emerging strategic importance of the Pacific region, and a chance for the islands to turn this into an opportunity for growth, development, and greater security.