Courtesy: Business Today
India and the United States are now on the verge of establishing a comprehensive trade agreement, overcoming a long history of bilateral trade challenges. This is a pivotal moment that could lead to mutual benefits and a deeper partnership for both countries. It will also light the path for other modern trade agreements that India is currently negotiating with multiple countries.
Courtesy: Reuters
The Italy-Africa summit, held on January 28-29, followed Prime Minister Meloni’s Mattei Plan for greater engagement with Africa and the Global South. It gives Italy’s ongoing G7 presidency an edge and a means of addressing immediate concerns like energy and illegal migration. Italy must now follow through on its commitments by coordinating with partner countries, organisations and private sector.
Courtesy: Hindustan Times
PM Modi’s State visit to the U.S. was marked by over a hundred agreements in emerging technologies, trade and investment. Manjeet Kripalani, Executive Director, Gateway House, spoke with Atul Keshap, President, U.S.-India Business Council, on the future of the India-US bilateral and thier multilateral relationships through the Initiative on Critical and Emerging Technologies (iCET) and the Quad.
Courtesy: The Times of India
On July 21, Sri Lankan President Ranil Wickremesinghe is set to visit for the first time since taking office. India has already provided $5 billion in economic assistance to Sri Lanka, and is now looking to expand its investment in the nation. Sri Lanka is also seeing interest from Indian private investment. The visit presents an opportunity for the two countries extend this relationship in new areas of cooperation, especially energy, infrastructure, and tourism.
Courtesy: Foreign Policy
Prime Minister Narendra Modi's third visit to the U.S., set against the backdrop of a changing world order, will be in a U.S. that is different from the one he visited in 2014, internationally and domestically. While accepting U.S. largesse, India must offer the U.S. things of value too. These include affordable healthcare, digitalisation, multilateral engagement and collaborations with the Global South.
Courtesy: Business World
The Sri Lankan economy is showing signs of stabilizing after experiencing the worst contraction in its history in 2022. Decisive policies by President Ranil Wickremasinghe, timely Indian aid, and an IMF Programme have laid the groundwork for a return to growth. India and Sri Lanka must now shift from an aid relationship to one which deepens bilateral trade and investment flows.
Courtesy: Amit Bhandari
The dominance of the U.S. dollar in global trade and its status as a fiat currency means it is unlikely to be replaced in the near future. However, the repeated and continued use of sanctions has created the need for a multi-currency trading regime. India must now prepare alternative payment systems and promote the use of the Indian rupee in global trade.
Courtesy: Deccan Herald
The eighth round of talks for the proposed India-UK free trade agreement is scheduled in New Delhi in March 2023. Both countries stand to make significant gains from a comprehensive agreement covering tariffs, sustainable growth, SMEs, data flows, and intellectual property. This article reviews motives for the India-UK agreement, the economic gains, contentious negotiation issues and win-win solutions.
Courtesy: LUKOIL
U.S. sanctions against Russia have made Moscow speed up work on the International North-South Transport Corridor (INSTC) as it is now Russia's gateway to India and India's to Russia and Central Asia via Iran's Chabahar port. The author, who recently visited the Astrakhan and Volgograd regions, a major INSTC logistics node, writes about the Indian connection, and the corridor's progress and challenges.
Courtesy: The Independent News & Media
The Indian diaspora has played a significant role in deepening the country's engagement with the Indo-Pacific nations. India can leverage this soft diplomacy to play a constructive role in the region.