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In its election manifesto for Maharashtra, the winning Bharatiya Janata Party (BJP) has set a goal of transforming Maharashtra into a $1 trillion economy by 2028. To achieve this, the state will need to focus on increasing its share of Foreign Direct Investment which, although the biggest in the country, has stagnated over the past decade.
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On October 31, Adani Power halved the electricity supply to Bangladesh, owing to outstanding dues. Bangladesh’s already weak economy has become worse under the new regime, with the country running short of funds to pay for imports of fuel and electricity.
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Gateway House presents a timeline that highlights the cross-border dynamics between Myanmar and India’s northeast. Myanmar’s military coup and breakdown of authority have aggravated existing local problems related to population displacement, border security, competition for resources and ethnic tensions. Now India must engage more directly with the entities that control land along its borders, and the local communities who know it best.
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The timeline records the daily instances and ongoing cross-border dynamics between India and Myanmar since the February 2021 military coup in Myanmar. It tracks the events taking place in the eight states along the Indo-Myanmar border—four states in India (Arunachal Pradesh, Nagaland, Mizoram, and Manipur) and four in Myanmar (Kachin, Sagaing, Chin, and Rakhine), revealing their social, political and economic interconnectedness.
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Sri Lanka's sovereign debt default in April 2022 triggered a paralyzing economic crisis. Steep inflation and widespread financial uncertainty hampered any efforts at recovery. The economy is now showing signs of stabilization. Internally focused government policies, foreign investment, aid from development partners like India and the U.S., and the IMF’s recovery program have set Sri Lanka on the path to recovery and, hopefully, eventual economic success.
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Maldivian President Muizzu's state visit to India last week was marked by discussions on a Free Trade Agreement, a vision document on maritime security cooperation, and five MOUs. India committed to supporting the Maldives’ development goals, while the Maldives pledged to respect India's security concerns in the Indian Ocean. Hopefully, this mutuality of interests will be the principal driver in the bilateral as it implements joint visions of economic and strategic cooperation.
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In the backdrop of the Shanghai Cooperation Organisation summit being held in Islamabad this week, is a restive state and peoples. Three high profile attacks in just a week were followed by a show of defiance from the large Pashtun community, demanding political equity – but also electricity concessions. The military has been stepping in to resolve commercial power deals, underlining the criticality of this issue in Pakistan.
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The past week has been eventful for India’s Neighbourhood First policy, with the External Affairs Minister’s visit to Sri Lanka and the state visit of the President of Maldives to India. Rajiv Bhatia, Distinguished Fellow, Foreign Policy Studies, Gateway House and Amit Bhandari, Senior Fellow, Energy, Investments and Connectivity, Gateway House, analyse India’s regional outreach and recent economic and political changes in the subcontinent.
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The new Sri Lankan government led by President Anura Kumar Dissanayake held its first meeting with the International Monetary Fund on October 3, to discuss further debt relief. Dissanayake, who overcame voter apprehension in the country’s presidential elections held two weeks ago, now has a historic opportunity to bring Sri Lanka out of the crisis and enable a compassionate and efficient transformation.
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A decade after its launch, China’s Belt and Road Initiative has slowed down in South Asia, the result of poorly conceived projects, and irresponsible behavior from borrower and lender alike.