Courtesy: Sri Lanka PMD
After a remarkable recovery from a very deep crisis in 2022, Sri Lanka’s recent budget for 2026 consolidates economic stabilisation and introduces a few markers for further growth. But more needs to be done to embed a growth strategy and transform its economy to avoid further IMF austerity programmes.
Courtesy: The Diplomat
Managing ties with the U.S., China, Russia, and those within its South Asian neighbourhood will be India’s key foreign policy priorities in 2025. For India to be a principal player in the region and beyond, it must skillfully weave national security, economic, and diplomacy into its strategic calculations.
Courtesy: The Hindu
Prime Minister Narendra Modi’s six-day visit to Nigeria, Brazil, and Guyana in November resulted in several bilateral agreements on economic, developmental, energy and technological cooperation. The trip highlighted India’s strategic and diplomatic priorities in Africa, Latin America and the Caribbean and offered the country an opportunity to position itself as a key partner for sustainable development and multilateral cooperation in the Global South.
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Prime Minister Modi’s state visit to Nigeria on November 16-17 marks the first leg of his transcontinental diplomatic tour and offers a valuable opportunity to advance cooperation with Africa and the Global South. The trip, aimed at deepening cooperation in trade, investment and defence, signaled India’s recognition of Nigeria’s significance as Africa’s regional and continental powerhouse.
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The 16th BRICS Summit, held in Russia’s Kazan in October, was the first summit of the expanded grouping. With 13 new partner states invited, it revealed how increased membership has the potential to enhance the grouping’s influence. For India, BRICS serves as a bridge between the west, the east, the north and the south, making New Delhi the geopolitical sweet spot.
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Sri Lanka's sovereign debt default in April 2022 triggered a paralyzing economic crisis. Steep inflation and widespread financial uncertainty hampered any efforts at recovery. The economy is now showing signs of stabilization. Internally focused government policies, foreign investment, aid from development partners like India and the U.S., and the IMF’s recovery program have set Sri Lanka on the path to recovery and, hopefully, eventual economic success.
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President Droupadi Murmu made state visits to Algeria, Mauritania, and Malawi from 13-19 October. It was the first-ever visit by an Indian head of state to these African nations, reflecting New Delhi's interest in strengthening its multidimensional strategic partnership with the continent. It also provides an opportunity to understand and respond to the needs of nations in the Global South.
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Maldivian President Muizzu's state visit to India last week was marked by discussions on a Free Trade Agreement, a vision document on maritime security cooperation, and five MOUs. India committed to supporting the Maldives’ development goals, while the Maldives pledged to respect India's security concerns in the Indian Ocean. Hopefully, this mutuality of interests will be the principal driver in the bilateral as it implements joint visions of economic and strategic cooperation.
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The 9th China-Africa Summit, held in Beijing from September 4-6, reflected China’s long-held view that Africa is vital to the world’s future, and therefore to the conduct of Chinese foreign policy. As China expands its strategic footprint on the continent, there is much for India to learn. It must adopt a proactive approach and back its economic and diplomatic initiatives with sustained political will.
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The Quad foreign ministers meeting, held in Tokyo on July 29, took a clear position against China’s coercive actions in the East and South China seas. The four ministers have done their bit by reviewing the progress of the grouping’s many initiatives and reiterating its commitment to a free and open Indo-Pacific. For continued progress, the Quad now needs solid initiative from the top leadership – and a summit at the earliest.