India has raised import duty on gold yet again. This will drive gold smuggling, whose nearly 16% return on investment therefrom will make hedge funds envious. Apart from loss of revenue, smuggling also means greater cash flows for the underworld, and potential terror finance.
During the last decade, cyber threats have steadily expanded in the Indo-Pacific in two distinct dimensions: cyberattacks by state and non-state actors, and cybercriminal syndicates. As a digitized society, India has offered its expertise and technologies to like-minded countries in the region. It must now expand its role by developing cyber norms, capacity-building and technical exchanges.
Hailed as historic, the new global rules to curb harmful fishing subsidies is a step towards sustainable fishery practices. The negotiated deal, however, is fraught with concerns over overcapacity in fisheries, deep-sea fishing legislations, and blue finance. It may be better for developing countries to formulate their own regulations and set up mechanisms to prevent illegal fishing within their territorial waters – and hold the WTO agreement to its word.
The Galwan crisis, pandemic and the Ukrainian war have weakened the BRICS’ credibility, a forum that has played a pivotal role in articulating the case for reformed multilateralism. Beyond grandiose rhetoric and vested interests, these five nations need to first infuse the grouping with internal solidarity and enhance mutual trust for peace, stability and prosperity in the Global South.
Low global commodity prices, strong FDI inflows, and sustained growth have boosted the Indian economy in the preceding decade. This favourable economic climate, however, was disrupted by the pandemic and the crisis in Ukraine, exposing vulnerabilities in the global economic system. This paper focuses on India’s economic security challenges, particularly in six sectors - Food, Energy, Finance, Data, Space & Undersea Cables and Critical Minerals - and suggests possible courses of action.
Great power competition in the Indo-Pacific is a concern for regional powers. India’s maritime security strategy has adapted to this geo-political change, and is moving from acting as a balancing power, to a leading force in the region. India is a near, yet non-resident power, and has a strategy for providing stability, prosperity, and security in the Indo-Pacific and Indian Ocean regions.
Pakistan’s latest economic survey reveals the extent of the country’s indebtedness to China. High-interest Chinese loans, reckless multilateral borrowing, and ever-increasing defence budgets have deleteriously impacted Pakistan’s finances. Any lasting solution to these problems will have to involve China.
ASEAN centrality is not what it used to be. Covid, post-pandemic economic recovery, the Ukraine crisis and the challenge of China all tested ASEAN capabilities to manage them. It is now up to ASEAN to work out its unity and centrality with a greater sense of responsibility.
China’s expansionist nuclear programme aims to bolster its capabilities, so much so, that Beijing's predictions boast 2500 new warheads by 2030, thus rivalling the American and Russian arsenals. As the dragon quadruples its nuclear propensity, heralding the world to something greatly unstable – a tripolar nuclear system; nuclear peace seems a quite convoluted goal.
City-level climate action is gaining pace in India. This is crucial, given the country’s climate vulnerabilities and growing carbon footprint. Its success depends on mobilisation of climate finance, targeted devolution of central resources, inter-agency data-sharing and of course, public participation.