Key GST lessons from the world
The long march to implement the long-awaited Good and Services Tax in India has just begun. It is instructive to understand how other countries introduced this tax and cherry-pick lessons from their experiences
The long march to implement the long-awaited Good and Services Tax in India has just begun. It is instructive to understand how other countries introduced this tax and cherry-pick lessons from their experiences
In two years, the Modi government’s Act East Policy has gone well beyond the focus on economic ties of its predecessor, the Look East Policy. It has made progress on many wider fronts, including connectivity and defence collaboration. India must now build on this success and further consolidate relations and trade links with ASEAN and beyond
The Trans-Pacific Partnership has dropped strong Intellectual Property Rights regulations on India’s doorstep. The implications of these regulations could affect India’s own policies, as well as her global aspirations towards the potential Regional Comprehensive Economic Partnership.
Vice President Ansari’s recent visits to Brunei and Thailand provided further clarity to the Act East Policy while advancing its implementation. He effectively showcased that the rationale for a strong India-ASEAN strategic partnership is sharper than before.
Although it is too soon to comprehensively analyse the Trans-Pacific Partnership agreement of October 5, it is worth assessing what is known. Here are the facts, the controversies, the assessments, and the implications for countries that are not part of the agreement, especially India.
The Trans-Pacific Partnership might soon be concluded if the U.S. Congress fast-tracks it, as recently announced, while the Regional Comprehensive Economic Partnership Agreement remains on slow-track. But the TPP, although ambitious, follows an outdated template, and it is the dynamic RCEP that can be a model for a new global rules-based framework
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
After bilateral meetings, the thrust for Prime Minister Modi will now change with various multilateral summits coming up, starting with India-ASEAN and the East Asia Summit next week. These are opportunities to expand India’s regional position and economic links, and address issues such as terrorism and a rising China
Myanmar, currently listed as one of the least developed nations by the UN, provides its neighbouring countries the opportunity to invest in one of the world’s last few business frontiers. Sushma Swaraj on her maiden visit to Nay Pyi Taw should continue to strengthen ties based on economic goals to develop largely underdeveloped areas along the common border as well use Myanmar’s increasing weight in the ASEAN grouping
In the wake of an ambitious and aggressive China, American President Barack Obama’s recent visits to various Asian countries were meant to assure allies old and new. At the same time, he trod a fine line, ensuring that he does not displease Beijing. And that may embolden China