Courtesy: MEA/Government of India
The launch of the BRICS bank can now give the member countries confidence to experiment with other geoeconomic ambitions. Incubating a non-dollar financial architecture can be the next goal. There are existing models to build upon but India will need smart economic diplomacy to secure its interests
Courtesy: Gateway House
Prime Minister Narendra Modi’s visit to Brazil for the BRICS summit is an opportunity for India to intensify its engagement with South America and reactivate the long-dormant IBSA (India, Brazil and South Africa) grouping. This grouping is a promising partnership comprising of different models of democracies spread over three continents
Courtesy: idevie.com
The New Development Bank was formalised at the just concluded meeting of the leaders of the BRICS nations in Fortaleza in Brazil this week. The location is to be Shanghai. The more appropriate and natural choice for locating the bank would have been Mumbai. There are several reasons why
Courtesy: wikimedia/commons
Brazil is all set to host the 6th BRICS Summit from July 15. In light of the fact that most developing nations have concerns over the pro-western bent of the World Bank and the IMF, the BRICS initiative of setting up of a Development Bank needs to gain momentum and the nations should finalise the mandate on a priority basis
Courtesy: GovernmentZA/Flickr
The African National Congress party which has won its fifth consecutive victory in the elections faces a long-term challenge, both on the streets and at the ballot box. The newly formed Economic Freedom Fighters party has cut into the ANC’s base significantly in habitual strongholds like Gauteng, the economic hub
Courtesy: rajkumari1220/Flickr
India’s political and economic future will be determined over the next few weeks. Gateway House recommends a priority diplomacy agenda for the next government – one which puts economics at the heart of our foreign policy
Courtesy: Matthew Willman/UN/NMF Photo/
In 1993, Nelson Mandela said: “We will have to go on striving to prove that King was right…when he said that humanity can no longer be tragically bound to the starless midnight of racism and war.” By learning from the tenacity of this striving, rather than by measuring outcomes, we can best honour Mandela
Courtesy: Ministry of External Affairs, India
In the coming years, India’s greatest strategic challenge in the Indian Ocean region may not be the development of power projection but the quality of the strategic relationships that it can build in the region. The extents to which India will be recognised as a regional leader depend on these relationships.
Courtesy: GovernmentZA/Flickr
The ZANU-PF party’s recent victory in the elections in Zimbabwe is fraught with allegations of manipulation. Reactions have varied, but South African President Jacob Zuma has endorsed the outcome. How will Mugabe’s re-election impact relations with South Africa? What will be the impact on Zimbabwe’s economy?
Courtesy: Ministry Of External Affairs, India
Indian foreign policy has not yet addressed the ramifications of Chinese economic dominance in BRICS. Nor have we matched China’s engagement within the group to ensure that the BRICS vision of a new international order for emerging economies actually works in their favour.