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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.
Courtesy: Bharata Bharati
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.
Courtesy: Wikipedia
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 jobs of 6.5 million Indians working in GCC countries could be at risk due to the fall in global oil prices. Securing the interests of these workers should be on Prime Minister Modi’s agenda when he visits UAE on August 16-17
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The oil-rich GCC countries are starting to show signs of financial stress maintaining high defense and social spending while the price of oil remains low
The Russian city of Ufa, capital of the Republic of Bashkortostan, played host to three major summits from July 8-10—BRICS, SCO and Russia's Eurasian Economic Union (EEU). Here are some of the characteristics and developments from the summit in numbers
Courtesy: PK times
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
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