India at the fulcrum of emerging geo-economics
In an increasingly volatile and uncertain world, balance of power is inexorably shifting from West to East. So is “geo-economics replacing geopolitics” as described by India’s Defence Minister, Nirmala Sitharaman. Thus, the goal and strategies of Indian foreign policy are also evolving as a sovereign nation pursuing its best interest. This is evident from Prime Minister Narendra Modi’s recent visits to - Russia and China for informal summits.
 
India has also been explicitly mentioned as a ‘Strategic and Defense partner’ in the U.S. National Security Strategy (NSS) 2017 document. However, the U.S. withdrawal from Iran nuclear deal and sanctions on Russian defence companies will have direct impact on India specifically on energy, connectivity, and defence procurement. On the contrary, the U.S. should value the needs of its credible partners and ensure the mix of common interests for long term sustainability in the Indo-Pacific region.
 
Conceivably, without becoming a part of the ‘hub and spoke’ of the United States but taking lessons from India-Japan-U.S. trilateral joint working group on infrastructure, three areas for further improvement in Indian foreign policy will likely be:
a) “the new Paris-Delhi-Canberra axis”;
b) linking defence procurement and investment with broader strategic goals; and
c) raising India’s clout in Shanghai Cooperation Organization (SCO).
     
On a different note, trade wars, triggered by the Trump Administration, are tragically in full bloom and will upset the global economy.
 

                                                Pradeep S. Mehta
 

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