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The OPEC’s proposed cut in oil production earlier this week may not enable the energy market to recover. Recovery is likely only after COVID-19 is brought under control, but there are ways India can capitalise on the current low oil prices for its own energy security
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The Seventh Tokyo International Conference on African Development was a departure from earlier editions of it. Japan, which is changing tack as a competitor to China in Africa, held back from publicising the number of heads of state present to prevent any comparisons with other such forums and made no further commitments on Overseas Development Assistance. The accent, instead, was on increasing Japanese private sector engagement
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The African Continental Free Trade Area, launched in July, is a landmark achievement, aiming to eliminate tariffs on 90% of products covered by intra-Africa trade and thereby spur entrepreneurial initiative and job creation. It envisages many other gains as well, but the hurdles in their realisation cannot be wished away. An analysis
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The inaugural Russia-Africa summit in Sochi in October is President Putin’s way of proclaiming a new phase in Russia’s relationship with the continent while increasing its relevance among countries with an established presence. The aim is to strengthen cooperation in the nuclear power, mining and security sectors
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India and Japan, two countries wanting to enhance the quality of their engagement in Africa’s development, have historically taken fundamentally different approaches to the task. But now, both are being guided by geoeconomic imperatives in aligning their strategy in the region— and the Asia Africa Growth Corridor offers many opportunities for synergy at the B2B level
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China’s footprint in the African continent is growing because it is a zealous summiteer. And now, in response to ‘debt-trap’ criticism, it also appears to be stressing private sector investment in Africa over loans and credit. Are there any takeaways for India in this?
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Africa today holds great economic allure for the major powers, which are looking to deepen their partnerships with it. India, which shares a rich past with the continent, has been adopting many measures to step up economic diplomacy in the region
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China’s judicious deployment of economic diplomacy—in sectors ranging from infrastructure and agriculture to skill development--has enabled it to develop relations with several African countries. India, Africa’s oldest partner, which is diversifying its own relationship, can replicate parts of China’s approach
Courtesy: Exim Bank of India
The India-Africa economic partnership lags some way behind the diplomatic reciprocity the two countries share. Africa has had a trade surplus with India in the past decade, but increasing two-way trade of goods and services across sectors calls for serious promotional measures and removal of non-tariff barriers. The government, Indian business and their African partners need to devise an action plan that can take trade to $100 billion and investment to $75 billion by 2022
Courtesy: Gateway House
China is steadily deploying state-of-the-art communications systems to connect its strategic and economic assets in Asia. It is then linkingthe Asian mainland to Africa, and Africa to South America. The investment spree is rapidly making Beijing a major player in global telecommunications – and ‘informationisation warfare’.