Courtesy: idevie.com
The New Development Bank was formalised at the just concluded meeting of the leaders of the BRICS nations in Fortaleza in Brazil this week. The location is to be Shanghai. The more appropriate and natural choice for locating the bank would have been Mumbai. There are several reasons why
Courtesy: RT.com
Talks are on in Vienna between Iran and the P5+1 to reach a settlement on Iran’s nuclear programme. The self-imposed deadline expires on July 20. However, with the U.S. insisting that Iran cut back on operational centrifuges any possibility of a comprehensive solution in the near future seems remote
Courtesy: Wikimedia Commons
When the Modi government presents its first Budget, it will hopefully pay closer attention to India’s defence requirements. Over the years, the defence budget has expanded, but funds allocated for military modernisation have not increased. This should be the government’s priority
Courtesy: Jnn13/Wikimedia Commons
The U.S. has not yet appointed a new ambassador to India. But this absence of urgency is less a ‘signal’ to India and more a result of factors such as a backlog of appointments awaiting approval in the Senate and candidates unwilling to accept the post only for the remaining period of the Obama administration
Courtesy: Wikimedia Commons
The World Bank report highlighting the need for far-reaching reforms in the power sector underlines the necessity for the centre and state governments to arrive at a political consensus. The model of cooperative federalism advocated by Prime Minister Modi has the potential to transform the electricity scenario
Courtesy: Sikh24
Finance Minister Arun Jaitley’s first budget on July 10 is expected to provide an insight into India’s global economic diplomacy. It should indicate the direction of policies on Foreign Direct Investment and on energy security
Courtesy: wikimedia/commons
Brazil is all set to host the 6th BRICS Summit from July 15. In light of the fact that most developing nations have concerns over the pro-western bent of the World Bank and the IMF, the BRICS initiative of setting up of a Development Bank needs to gain momentum and the nations should finalise the mandate on a priority basis
Courtesy: wikimedia\commons
The growing ISIS-driven violence in Iraq highlights India’s vulnerability to the turmoil in West Asia: we heavily depend on the region for our energy. To insulate the country’s energy security from the upheavals, India must urgently diversify its sources and types of fuel, and develop its own energy ecosystem
Courtesy: Ministry of External Affairs
Relations between India and Bangladesh have been limping along a road paved with good intentions, but little action. Will the new government in Delhi make things better or worse for its smaller and weaker neighbour? There are concerns, but there is also optimism, that Prime Minister Narendra Modi may be the man to do business with
Courtesy: Wikipedia.org
The rise of the militant ISIS will alter the stability and future of all West Asian countries, and can impact India in multiple ways. India must re-evaluate its West Asia policy, and address the safety of its nationals in Iraq, the security of its oil supplies, and the fallout on South Asia of this resurgence of strife