After a year affected by a sustained polycrisis, global geopolitics in 2024 remains a delicate dance between hope and realism. Ongoing conflicts in Ukraine and Gaza cast uncertain shadows, while Taiwan and the South China Sea present potential flashpoints. Indian diplomacy will have to navigate old and new challenges, while promoting India’s expertise in digital technology, as also managing its own upcoming parliamentary elections.

The supply of critical minerals, crucial for new and emerging technologies such as electric vehicles, electronics and renewable energy production, faces a significant disruption due to Covid and the Ukraine crisis. As the prices of these valuable resources surge, India can secure its supplies through the sagacious use of financial investments, efficient policies, and propriety technology. A collaboration with Japan can offer multifaceted benefits.

The EU has been working on an India engagement for two decades now – a strategic partnership and a free trade engagement. It is finally being realised – the outcome of the visit of European Commission President Ursula von der Leyen to Delhi this month. The upgraded, ambitious partnership Europe’s long overdue pivot to India.

The India-Russia leaders’ summit and ministerial meetings in New Delhi on Dec. 6, scored big. Differences were set aside to make transformative progress in defence, fintech and connectivity among other sectors, commencing a new era of India-Russia relations fit for the 21st century.

Big Tech is powerful and its profits are growing - by 105% over the last year. It dominates economies. This raises concerns about data protection and privacy, anti-trust, fintech and the specific role of intermediaries. India is leading the way on fintech, but is behind several countries and institutions on digital rules. It is important to establish laws and rules to govern technology – whether domestic or through multilateral bodies – with the aim to strike the right balance between innovation and regulation.

The GLOBSEC Bratislava Forum’s annual conference this year saw discussions on technology take precedence over geopolitics. Experts pointed out the gap between the adoption of digital technology and managing its risks

Digital development can bring significant economic gains – from a better business environment to job growth and improved public finances, said Urve Palo, Minister of Entrepreneurship and Information Technology, Republic of Estonia

Marina Kaljurand, Chair, Global Commission on Stability of Cyberspace, Brussels, Belgium, said governments had to collaborate closely with lawyers, and the private sector, which is leading some major developments