Courtesy: Narendra Modi/Facebook
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.
Courtesy: telegraphindia.com
The G7 has reached out to emerging economies which have, of late, been facing challenges on the economic front, brought on by the lingering pandemic and the mismanagement of the Ukraine crisis. They are also seeking, from the global south, a broader acceptance of their world view. Will it be forthcoming?
Courtesy: The Print
The shadow of the Ukrainian war was visible at the G7 summit. Anti-Russian formations were expected, but the extensive reference to China drew attention. The leaders did their part by extensively discussing challenges relating to climate, energy, environment, health, and food security. It is now for the G7 governments to deliver, to be taken seriously.
Courtesy: oneindia.com
The Galwan crisis, pandemic and the Ukrainian war have weakened the BRICS’ credibility, a forum that has played a pivotal role in articulating the case for reformed multilateralism. Beyond grandiose rhetoric and vested interests, these five nations need to first infuse the grouping with internal solidarity and enhance mutual trust for peace, stability and prosperity in the Global South.
Courtesy: Gateway House
On May 6, 2022, Amb. Rajiv Bhatia presented his remarks at the BRICS Think Tank Symposium held in Chongqing, China. Ambassador Bhatia traced the Ukrainian war crisis and its linkage to the grouping, while also elucidating that the Sino-Indian stalemate on transboundary disputes, UNSC membership permanency and leadership within the global south has harmed effective resolutions in the multilateral forum.
India is the world's third largest importer of oil after China and the U.S. and a major player providing demand security for oil exporters. The technological changes and geopolitical shifts in the oil economy from the West to the East, highlights India's position as a valuable partner in renewable energy, and oil security and production. The book explores the various elements of India's dependence on imported oil, and how it can turn to an advantage. This excerpt analyses the alternatives to the current West-dominated oil markets and industry that are available to India as a leading consumer.
Courtesy: G20
The Oct 30-31 G20 Leaders’ Summit in Rome took several important steps to accelerate economic recovery and health security. In the absence of several Eurasian leaders, India played a significant role especially on climate and energy. The G20 will now acquire greater salience in India's foreign policy, as it readies to lead the grouping in 2023.
Courtesy: Press Information Bureau, Government of India
India hosted the 13th BRICS summit on September 9, celebrating 15 years of the multilateral. The leaders committed to fighting terrorism and reforming multilateral organisations, among other diverse aspects. However, the grouping clearly needs better implementation strategies if the agreements reached, are to be truly successful.
Courtesy: BRICS Forum - India 2021
The 13th BRICS summit will be held virtually on 9 September 2021 and India is the host. The grouping has managed to hold its ground in an era of increasingly complex geopolitics. While immediate goals are important, in the longer term it must cooperate on counter terrorism, improve trade and work towards the Sustainable Development Goals.
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India’s oil consumption and imports are likely to resume their upward trajectory as the economy opens up, after a temporary drop due to the pandemic. To secure its energy needs, the country should shift course from investing in oil and gas assets of emerging economies to those of developed nations. The oil-rich Organisation for Economic Co-operation and Development (OECD) countries, such as Canada, Norway, and the U.S. can be given special consideration.
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