In 1991 India launched its Look East Policy in recognition of the potential strategic and economic opportunities in Southeast and East Asia. Today, twenty years on, while most Western countries remain mired in the difficulties brought on by the financial crisis and years of overspending, Asian economies are growing.
Bangladesh, China, India and Myanmar have a combined GDP of over $9.3 trillion, and a collective population of over 2.7 billion people. Together, they represent a considerable chunk of the world’s trade and GDP. These neighbours, sensing the strategic need for mutual cooperation, started the Bangladesh-China-India-Myanmar Forum (BCIM) in an attempt to increase the association for shared benefits.
What does the development of economic and transport links between the BCIM nations mean for the Indian economy? Given the widening trade deficit with China, what policies will be most viable for India towards its largest trading partner in the region?
On 18 September, Gateway House: Indian Council on Global Relations hosted Ambassador Eric Gonsalves, former Indian Ambassador to Japan and the European Union. Ambassador Neelam Deo, Director, Gateway House, moderated the discussion on ‘Looking east: India, China and the BCIM.’
Ambassador Eric Gonsalves has served in various positions after his retirement from the Indian Foreign Service. He was the Director of India International Centre, Delhi (1986-91); Director, Asian Relations Commemorative Conference (1987) and Member, International Observer Group, Sri Lanka Elections (1989-94). He was also President, Institute of Peace and Conflict Studies, New Delhi. (Until April 2008). Currently, he is a Member of Centre for Policy Research, Delhi, and Convenor, Indian Delegation BCIM (Bangladesh China India Myanmar) Forum.
Ambassador Neelam Deo is the Director of Gateway House: Indian Council on Global Relations. She is the former Indian Ambassador to Denmark and Ivory Coast with concurrent accreditation to several West African countries. She has also served in Indian embassies in Washington D.C., Bangkok and Rome. Her most recent assignment was as Consul General in New York.