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Drones have become vital to the operations of many industries and government organisations across the world. With huge economic opportunity to be derived from the use, manufacture and sale of drones, the Indian government must refine policy and address regulatory lacunae to help boost both technology adoption and drone manufacture in India.
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The maturing private space sector in the U.S. has learned to raise money from the market in the form of sectoral equity-traded funds. Such financing mechanisms will keep the U.S. ahead in the global space economy, which is slated to grow manifold from $430 billion now to $4 trillion by 2040. India's fledgling private space ecosystem, financiers, and stock exchanges can learn from the U.S. and do the same for India's newly reformed private space sector.
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On February 1, the Myanmar army seized power, turning a partial democracy into a full-fledged military rule, once again. Whenever democracy suffers, India feels concerned. However, New Delhi is committed to the policy of non-interference in another state’s internal affairs. It is also guided by its national interest and will astutely balance principles, values, interests, and geopolitical realities.
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On 21 January, the Bombay Stock Exchange index crossed the 50,000 mark – the first-ever in its 146-year history. A similar stock market boom occurred in 1863. It was led by the city’s legendary stock-bullion-cotton broker, Premchund Roychand. Unlike today’s Bad Boy Billionaires, Roychand settled all his dues after which he earned back his fortune. Well-known as the sole donor of Mumbai University’s Rajabai Clock Tower, he not only met all pending philanthropic commitments made before the 1865 crash but continued giving more.
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The Jan 26 riots by the protesting Punjab farmers, is a set back both to the reform of India's domestic agriculture sector, and to the country's external agriculture trade. Nevertheless, willing farmers and communities can improve their engagement with the market, start inter-state trade, and build the farming infrastructure necessary to prepare for a fully free agriculture market. This will ready India to fulfil its commitments and find its rightful place in the international trade system.
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Social media platforms such as Twitter and Facebook have come under global scrutiny in recent months following their use to incite or misinform the public. For years, governments around the democratic world have not taken the responsibility to adequately regulate these platforms. Now that may be changing – and it won’t be easy.
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On Jan 16, India will roll out its Covid-19 vaccination programme, the world’s largest. It puts India in the exclusive club of the V-5 anti-Corona vaccine producers, providing an opportunity for the country to scale up its pharma ecosystem and become a net provider of global health security.
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The ongoing turmoil in the oil markets due to the pandemic and underutilized supply, presents a long-term opportunity for India to secure its energy future. It can take small stakes in the listed oil and gas companies of stable Western democracies like the U.S., Canada and Australia, through a specially-created sovereign wealth fund. This will allow India to be better prepared for the era when prices rise again.
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Vietnam had a busy 2020, starting with its chairmanship of ASEAN and ending with the signing of RCEP, and a free trade agreement with the EU. All were completed successfully despite the pandemic, which it also handled well. It has revealed Vietnam’s dexterity and confidence, good management and societal control and raised the country’s global profile.
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India needs a policy mix that nurtures the Space 2.0 industry, secures it from hostile takeovers and predatory investments from overseas investors, and does not suffocate it under excessive protectionism.