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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.
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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.
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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.
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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.
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The India-Africa Forum Summit in October in New Delhi will be a milestone event, with more than 50 African states and representatives from the African Union participating. It will demonstrate how Africa fits into India’s new foreign policy outlook, clarify to African countries how ‘Make in India’ impacts their economies, and will be an opportunity for both sides to renew development cooperation.
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India becoming a full member of the Shanghai Cooperation Organisation will be a significant moment in its engagement with Central Asia. However, there are not a lot of security or other benefits to be gained
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While all eyes are currently on Greece, the UK has plans to hold a referendum on whether to exit the European Union or a "Brexit". The potential of a "Brexit" has both short and long term implications on the UK's position as a financial hub and on Indian FDI into the UK
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If, after nine years, BRICS remains a disparate grouping, and its trade and investment flows remain dismal, it is time to explore new avenues of cooperation to consolidate the alliance—and culture and education can provide the necessary cementing factor when combined with the New Development Bank
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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
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With the Eurozone portion of Greece’s $276 billion bailout credit expiring on June 30, Europe is in the midst of a standoff over this unsustainable debt. But it is only the latest in a number of Eurozone crises since 2008, and if the prospects for economic growth remain dim, how will the EU address its interlocking problems?