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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
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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
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Narendra Modi, who spent nearly two months abroad in his first year as prime minister, helped India cultivate a wide range of bilateral and multilateral relationships. But of these, it will be the middle powers that hold the key, economically and geopolitically to India’s growth and security, and Modi must continue to widen his middle powers arc
Courtesy: Amit Dave (Reuters)
Conjecture about a Rosneft-Essar deal shows how the oil market dynamics have shifted in the past few years. Just as supply security is important to oil buyers, demand security is crucial for oil suppliers. Buying refining and marketing assets in big markets like India is the route to demand security for Russia, whose economy depends on petroleum exports.
Courtesy: MEA India
The French media’s reportage of Modi’s recent visit to France was limited but significant, and inevitably a lot of it was about the Rafale deal. Various other issues were covered, including the nuclear reactor project in Jaitapur. Some newspapers recommended that France must heavily invest in India, while some expressed concerns, but on the whole the coverage has generated enthusiasm
Germany is a crucial partner for India, especially for the Make in India programme. The needs and strengths of both countries are complementary: in India, German companies are among the largest employers, and Germany is the second largest destination for Indian investment in Europe. India needs to develop and enhance the skill of its population, and develop an advanced manufacturing base. For this, a new level of collaboration is required.
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The France-India relationship must not be overshadowed by the Rafale deal. Modi’s visit can be the opportunity to add fresh energy in the economic relationship by harnessing economic complementarities.
Courtesy: Hannover Messe.de
Germany’s Mittelstand or medium and small companies are the heart beat of Germany’s successful economy. They will be showcased at the Hannover Fair, which Prime Minister Modi will inaugurate on April 12. It can be the perfect blueprint for his Make in India effort.
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With the EU, Iran, and other entities taking decisive steps on April 2 to ensure a non-nuclear Iran, President Obama must now counter interests in the U.S. that want to stymie the final agreement. But having come this far, and considering the comprehensive benefits of an agreement, all sides are sure to deliver
With the crisis in Ukraine worsening, Europe seems to have realised that the solution is not military, though the U.S may push to send in arms. Although no country wants a war with Russia, the conflict over Ukraine between the West and Russia could escalate. What are the future scenarios for the region and with what global implications?
