Courtesy: East Asia Forum
The traditional power structures of ‘unipolarity’ or ‘bipolarity’ prevalent over the past 80 years are no longer appropriate to describe the current global order, with more countries increasingly supporting the evolving multipolar world. With the old ‘rules-based’ order becoming less relevant, emerging powers like India have an opportunity to draft more equitable rules to match their multipolar intentions.
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U.S. President Trump is prioritising strategic competition with China and seeking stability with Russia. This approach involves sanctions relief, sidelining Ukraine, and fostering economic ties with Moscow to weaken its reliance on China and reshape global power dynamics. Europe is divided on the outreach to Russia, but the U.S. wants to leverage energy markets and investment opportunities to expand its influence over Moscow.
Courtesy: Investopedia
The Bank of England was in the news because of the ‘gold squeeze’- traders moving gold from London to New York to profit from the price arbitrage. An informal version of this is taking place between Bangladesh and India.
Courtesy: President of Russia-Events website
Europe has reduced its reliance on Russian gas following the war in Ukraine, and its chief supplier Russia is mired in western sanctions. What does it mean for Russia? It has certainly changed the fortunes for American gas to be sold to Europe: as of 2023, the US had become the world’s top exporter of gas.
Courtesy: Oxford University Press
The India Middle-East Europe Economic Corridor (IMEC) announced during India’s G20 leaders’ summit in September 2023 aims at security and ease of connectivity by multi-modal physical, digital and energy corridors connecting India, UAE, Saudi Arabia, Israel, and Europe. Like many of the connectivity projects created around the world today, IMEC’s origins are 2,300 years old, ancient routes that connected the Indian Ocean to the Mediterranean Sea
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Prime Minister Modi’s third term began with India’s participation at the BRICS Foreign Ministers Meeting in Russia and the Outreach Session of G7 in Italy. India’s participation at both conferences highlighted New Delhi’s continuing preoccupation with great powers. How Indian diplomacy navigates ties between the West and BRICS will shape and decide its strategic autonomy in a multipolar world.
Courtesy: Bayerischer Rundfunk
The North Atlantic Treaty Organisation turns 75 this year. It has exceeded its original mandate of a collective defence for Europe and is expanding rapidly. From restraining the rise of Russia, it is now seeking non-NATO allies in Asia who wish to restrain China. This requires a nimbler, more dynamic alliance. Can NATO respond to the transformation?
Courtesy: Gateway House
A sweep of democracies across the world are scheduled to hold general elections in 2024, including seven of the 10 most populous countries. India has an interest in several of these: its own national election and those in its immediate neighbourhood; in the G20, of which India is still part of the troika; and in BRICS-plus, where a new global game is afoot.
Courtesy: Gateway House
Gateway House is the only institution in India that has hosted official and independent meetings under the annual G20 process since 2015. In October 2022, Gateway House initiated an independent G20 Task Force on Energy Transitions and Climate Finance, the first task force of India's G20 Presidency of 2023. In this compendium of reports, Gateway House assesses and includes its engagement with this influential multilateral through task forces, research and meetings of the last nine G20 Presidencies.
Courtesy: Valdai Discussion Club
The reference to India by Russian President Vladimir Putin at the Valdai Discussion Club may be interpreted as encouragement to New Delhi to use its good offices to nudge the warring sides to the negotiating table. Mediation is a big power game, and this may be the right time for India, at the cusp of the G20 Presidency, to start with a record of success