Roadmap for Answer Writing Introduction Briefly introduce IORA as an inter-governmental organization aiming to strengthen cooperation and sustainable development in the Indian Ocean region. Mention the significance of economic cooperation and regional integration among its member states. Body: Ways IORA Promotes Economic Cooperation and ...
Model Answer Implications for India Strategic Counter to China The IMEC provides India with a strategic platform to counter China's growing influence in the Gulf region. By participating in IMEC, India positions itself as a key player opposing China's Belt and Road Initiative (BRI), thereby ensuringRead more
Model Answer
Implications for India
Strategic Counter to China
The IMEC provides India with a strategic platform to counter China’s growing influence in the Gulf region. By participating in IMEC, India positions itself as a key player opposing China’s Belt and Road Initiative (BRI), thereby ensuring its presence in the geopolitically crucial region. This aligns India as a counterweight to China’s economic and diplomatic dominance.
Economic Growth and Trade Facilitation
IMEC promises to significantly reduce transportation time and costs, unlocking new trade routes between India, West Asia, and Europe. Trade with countries like Saudi Arabia, the UAE, Jordan, and Greece is set to grow, benefiting key sectors like engineering goods, green hydrogen, and green ammonia. Transportation costs to Europe could decrease by 30%, while time taken could reduce by 40%, improving India’s export competitiveness.
Diplomatic and Geopolitical Significance
India’s involvement in IMEC strengthens its diplomatic ties with Middle Eastern and European nations. The corridor provides an opportunity for cultural exchanges, dialogue, and enhanced regional cooperation, bolstering India’s global standing in shaping future geopolitical dynamics.
Economic Integration
IMEC will foster regional economic integration by increasing trade accessibility, securing supply chains, and reducing operational costs. The corridor is poised to create job opportunities, promote sustainable economic practices, and support India’s growing role in regional and global economic cooperation.
Implications for the World
- Broader Eurasian IntegrationIMEC acts as a catalyst for a more interconnected Eurasian supercontinent, linking Europe, the Middle East, and Asia. This integration will likely shift the global economic center of gravity eastward, with both the US and Europe contributing to the creation of a balanced Eurasian order.
- Clean Energy and Technological Advancement
IMEC is designed to support the development and export of clean energy, integrating energy and telecommunication grids. This will not only enhance energy security in the region but also promote sustainable development through technological advancements.
Model Answer The Indian Ocean Rim Association (IORA) plays a crucial role in fostering economic cooperation and regional integration among its 23 member states through various initiatives: Trade and Investment Facilitation: IORA promotes trade liberalisation by reducing barriers to the free flow ofRead more
Model Answer
The Indian Ocean Rim Association (IORA) plays a crucial role in fostering economic cooperation and regional integration among its 23 member states through various initiatives:
Trade and Investment Facilitation:
IORA promotes trade liberalisation by reducing barriers to the free flow of goods, services, investment, and technology. The IORA Action Plan (2017-2021) set targets like promoting small and medium enterprises (SMEs) and creating an online trade repository for member businesses to enhance economic integration.
Fisheries Management:
Recognising the importance of the Blue Economy, IORA has prioritised fisheries cooperation. The IORA Fisheries Support Unit leads efforts to address critical issues related to fisheries, ensuring sustainable resource management among its members.
Tourism and Cultural Exchanges:
A dedicated Core Group on Tourism works to enhance tourism and cultural exchanges, setting policy directions and facilitating cooperation to strengthen regional ties and promote people-to-people contact.
Disaster Risk Management:
Given the region’s vulnerability to natural and man-made disasters, IORA emphasizes multi-stakeholder cooperation in disaster risk management, involving governments, NGOs, and the private sector to reduce regional vulnerabilities.
Maritime Security:
To safeguard the strategic maritime routes in the Indian Ocean, IORA members cooperate on issues like piracy, maritime terrorism, and illegal fishing through initiatives like the IORA Working Group on Maritime Safety and Security.
Challenges Faced by IORA
Despite its efforts, IORA faces several hurdles in achieving its objectives: