Indonesia has managed its G20 Presidency year by understanding the importance of not going it alone. This trading nation has used its deep regional and multilateral cooperative processes which provided trusted back-up and support at every step, and was book-ended by strong linkages and investment partnerships with Japan and Australia. In this, it has laid the groundwork for India’s 2023 presidency.
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India is stepping into a new era of free trade agreements in the midst of turbulent global waters that bring both risks and opportunities. A fragile global recovery can dampen demand for India’s goods, but it can also attract medium and high-tech manufacturing sectors leaving China, benefit from technology and skill transfer from abroad and lay a strong foundation for growth.
Sanctions against Russian energy, high cost fuel, heat waves and droughts all at once have raised the price of daily energy use to unprecedented levels and plunged large parts of the world into darkness.
The West is using the Ukraine crisis as a watershed moment to weaponize sanctions in a volatile global setting. This infographic shows the extent and scale of Western sanctions against Russia, both public and private, across different sectors, and in a coordinated manner.
After its fourth summit on May 24, the Quad has emerged stronger and clearer in its initiatives which are aimed at addressing the Indo-Pacific’s geopolitical challenges. India now has a chance to work with like-minded democracies on an equal footing, with much to contribute. The Quad’s strategy for the Indo-Pacific is to deepen internalised cooperation for continued peace, prosperity, and stability.
A serious stocktaking is expected at the Quad Leaders' Summit in Tokyo, to measure the progress of its wide-ranging list and proposals. In addition to vaccine partnerships, climate change, and connectivity, the Quad must now craft a common strategy for and expedite cooperation in, the economy, higher education, industry, and technology. It will also project unity in the Indo-Pacific region.
With mass digitisation, India has proved that technology is not just for the educated, privileged, and wealthy. The country's open and secure digital public platforms can be significant for the Indo-Pacific, the world's most data-rich region. The Indian model is applicable because it is open-source, interoperable, auditable, and enshrines individual rights, ownership, and empowerment.
The signing of the Economic Cooperation and Trade Agreement between India and Australia in April, shows how well Australia has understood its new economic partner. In this special podcast, Lisa Singh, CEO, Australia-India Institute, and Manjeet Kripalani, Executive Director, Gateway House, have a wide ranging discussion on areas of strategic cooperation from trade, digital governance, connectivity and maritime security, to multilateral engagement in G20 and the Quad.
New global economic, military and political alliances are taking shape, and call for like-minded nations to calibrate their strategic, long term interests. The new India-Australia economic trade agreement is reflective of this. It also folds in a critical element: wide cooperation in cyber security, which now impacts the economy, democratic institutions and warfare. India has much to learn from Australia’s low key but smart cyber expertise.
China has established a dominant presence in the Indo-Pacific through exploitative economic engagements. This has destabilised smaller nations in the region and made them dependent on Chinese support. For a free and open Indo-Pacific, India must press its advantage in human and economic capacity building.