Courtesy: The Strategist
Despite its natural advantages, the Bay of Bengal region lags economically, in part due to insufficient connectivity between the member nations. Improving financial connectivity between them is the first step to easing movement of goods, services and people. Greater financial collaboration also can help the region mitigate the impact of ongoing geopolitical upheavals that have caused food and energy prices to rise.
Courtesy: Reuters
India’s South Asian neighbours have all seen sharp currency devaluations since early 2022. These are a result of maintaining artificially strong exchange rates, made possible by remittances from migrant workers. However, by postponing the inevitable devaluations, these states have made their economic crises much worse.
Courtesy: Dhaka Tribune
Dhaka recently hosted the Indian Ocean Conference 2023, a multi-country event featuring speakers and participants from the Indian Ocean countries. In recent years, Bangladesh has gone from a ‘basket-case’ to a case study in progress, and across Dhaka are signs of a city undergoing dramatic change.
Courtesy: Business World
The Sri Lankan economy is showing signs of stabilizing after experiencing the worst contraction in its history in 2022. Decisive policies by President Ranil Wickremasinghe, timely Indian aid, and an IMF Programme have laid the groundwork for a return to growth. India and Sri Lanka must now shift from an aid relationship to one which deepens bilateral trade and investment flows.
Courtesy: Swarajya
India, as chair of the Shanghai Cooperation Organisation, hosted the foreign ministers’ meet in Goa last week. What would have been an important and expanding regional grouping has been complicated by the Russia-Ukraine crisis, the increased influence of China and an obstructionist Pakistan. Still, India has played its role with an eye on the long term.
Courtesy: WION
Our Distinguished Fellow for Foreign Policy Studies, Amb. Rajiv Bhatia, was quoted by WIONews on the SCO Foreign Ministers Meeting. Read the full report here.
Courtesy: SLASSCOM
A report on “E-commerce: A Driver of Inclusive Growth in Sri Lanka?”, co-authored by Ganeshan Wignaraja, Professorial Fellow in Economics and Trade, Gateway House, and Anishka De Zylva, Head of Public Policy and Corporate Affairs, Daraz Sri Lanka, was presented to President Read more
Courtesy: India Shipping News
India’s Northeast is developing and getting close to its goal of being part of the Indian mainstream in connectivity and business – which is also critical for the success of India’s Act East Policy. For both goals, Bangladesh and Japan are invaluable partners and friends. The troika’s collaboration can be a model in the region.
Courtesy: Reuters
The International Monetary Fund’s recent warning of a slowing global trade comes as a sign for South Asia to reassess its regional trade within the continent. India, in its year of G20 Presidency and as South Asia’s largest economy, can use its platform to lead the way via dialogue, capacity building, and regulatory policies to encourage open regionalism in Asia.
Courtesy: T20 India
On 17-18 January, 2023, Rajiv Bhatia, Distinguished Fellow, Foreign Policy Studies Programme, Gateway House participated in the 14th South Asia Conference on the theme “Think20@G20: Towards a Resilient South Asia” hosted by Manohar Parrikar Institute for Defence Studies and Analyses in New Delhi. Amb. Bhatia suggests that in due course, BIMSTEC should be given the status of a permanent guest in G20.