India will be president of the G20 in 2023. The world’s most influential economic governance body is facing an existential crisis, where the major powers have fallen out. With geopolitical currents redefining geo-economics, India needs to be ready to emerge as the chief global diplomat.
The Narendra Modi government came to power in India in 2014, promising "minimum government, maximum governance". Its roll-out of numerous government schemes meant that democracy and governance came before economic growth. But it returned Modi to power.Analysing the current debate on growth and governance the author explores how the sequencing of governance and economic outcomes is different in China, Turkey and India
Rohinton Medhora, President, Centre for International Governance Innovation, Canada, who was in Mumbai recently for the T20 conference hosted by Gateway House, spoke on the ways multilateral institutions can include developing countries’ agendas within their own.
The IMF spring meetings on April 21-23 will take place amidst good news of the global economy moving into a better position. But the underlying fundamentals are still weak both in advanced countries and emerging markets, with the risks considerable. Economic policy makers must recognise and address the challenges with global consensus and multilateral actions
The era of globalisation is drawing to a close and a new one is emerging—an era of bilateralism over globalisation, of domestic over foreign focus, and reality-based policy-making
The global monetary and financial system is lopsided and designed to favour rich countries; an alternative economic and political doctrine, which takes into account the needs of emerging economies like India, must now be articulated to end this one-sided architecture
The AIIB is a step along a path that started with the Asian financial crisis, which defined ASEAN’s views about the U.S.’s commitment to the region. Although the bank may signal the rise of China, it is also a coming together of Chinese and ASEAN goals—ASEAN’s focus on infrastructure for growth requires another source of finance, and this forecasts its strong relationship with the AIIB
The announcement that major European powers will join the AIIB as founding members means the bank is now clearly accepted as a tangible game changer in the multilateral financial architecture. The formidable intentions of AIIB and the new transnational corridors project are both a challenge and an opportunity for India
The Japan Times, an English-language newspaper in Japan, has published an article written by Meera Kumar, a regular contributor to Gateway House. In this article, Meera analyses the need for reforms in the Asian Development Bank (ADB)
Efforts to reform credit rating agencies after the 2008 financial crisis have failed to address concerns about their ability to assess a nation’s financial status. Issues like private interests and a disregard for the diversity of development models have made it imperative to think of a new multilateral agency