India & Britain: partners in need
Brexit has put Prime Minister Modi in the driving seat for negotiating a better trade deal for India with the UK--and the EU
Brexit has put Prime Minister Modi in the driving seat for negotiating a better trade deal for India with the UK--and the EU
The French city, bordering the English Channel, is a symbol of the tension between Paris and London and the crisis in Europe as a whole. The dismantling of one refugee outfit here just made an already thorny issue pricklier.
In the aftermath of Brexit, the recently concluded NATO Summit highlighted the emerging asymmetry between NATO and the EU on their respective policy positions towards Russia. Has the expansion of NATO and the EU to absorb Eastern Europe, and the consequent large migration flows, been responsible for the visible cracks within the Europe?
The result of the Brexit referendum is nothing less than a body blow to Bretton Woods organisations, International Monetary Fund-North Atlantic Treaty Organisation (NATO)-World Bank, that originated at the end of the Second World War. The possibility of an Asian century becomes more feasible, if India can be nimble enough to make the most of the opportunity which has presented itself in Europe.
The message from Brexit is simple: the post-second world war financial, trade and industrial order and security arrangements that developed around Bretton Woods, have passed their expiry date. This is the time for countries, regional unions and global institutions to reform themselves – putting people instead of regulations and strategic objectives at the centre of their decision-making.
As the referendum on the UK’s membership of the EU draws near, predicting the outcome remains difficult. While the potential impact of Brexit on the UK has been discussed at length, a vote to stay in the EU could have implications for the UK’s domestic political situation as well as its future relationship with the EU.
On June 23, the United Kingdom will vote on whether they wish to remain a part of the European Union through the Brexit vote. The debate surrounding the vote has spurred many a heated and emotional debate. While the Indian government has not declared anything publicly - remaining in the EU would be beneficial to Indian businesses.
Narendra Modi’s landslide victory in India's 2014 general elections, despite his hardline nationalist image, was viewed as a localised phenomenon. But two years later, voters across the world from Europe to Philippines seem to be tilting towards leaders with the same nationalist tag.
All Indian companies planning to go global should closely follow the saga of Tata Steel’s UK plants; it’s a masterclass on how intimately business is intertwined with geopolitics and geoeconomics
This year, India's defence diplomacy has ramped up. In 2015 alone there have been 18 military exercises- naval, army and air force- with 13 countries, among the largest engagements the country has had. Most significant is Japan joining the Malabar exercises in the Bay of Bengal and the first-ever maritime exercise with Australia. This is increasing India's presence from the Arabian Sea to the Bay of Bengal. As these exercises intensify India will be better positioned to handle regional security challenges.