India and Future of Asia

Topics: India, Nuclear weapon, Nuclear power Pages: 22 (8061 words) Published: February 15, 2013

• Introduction
• India in the changing scenario
• Triangle of India, China and Pakistan
• India in Nuclear Cooperation
• Foreign Investment in India
• India’ Diplomacy
• Conclusion

Introduction- As the world increasingly acknowledges India's rising power status, India is adapting its foreign policy to meet the international challenges of the 21st century and to increase its global influence and status. For many years, India took pride in its role as leader of the Non-Aligned Movement and viewed itself as the primary defender of the rights of the less developed countries. In the past few years, New Delhi has expanded its strategic vision, most noticeably in Asia, and has broadened the definition of its security interests. While India has focused special attention on cultivating ties to the United States since 2000, the overall thrust of its foreign policy has been to seek geopolitical partnerships in multiple directions to serve its national interests. It has pursued special relationships with the U.S., Russia, China, and key European countries. In June 2006, Indian Defense Minister Pranab Mukherjee (the current foreign minister) described India's foreign policy: "Premised on the twin policies of no extra-territorial ambition and no export of ideology, India seeks the peaceful resolution of all disputes." He went on to say that "[s]imultaneous improvement in ties with the U.S., EU, and Russia and Southeast Asia, Japan, Korea, and China demonstrates that for the first time in its diplomatic history, India is forging significant strategic ties with both West and East Asia." Broadening Indian engagement across the globe, especially in Asia, is in the U.S. interest and should be further encouraged. Washington's and New Delhi's strategic perceptions are increasingly converging, and there is tremendous opportunity to cooperate and coordinate in this dynamic region. Because India is a fellow democracy without hegemonic interests and with a propensity to seek peaceful resolution of conflicts, its increased economic and political involvement in Asia will help to further overall U.S. goals in the region. India's involvement in Asia will help both to ensure that one country does not dominate the area and to encourage stability in a region that will take center stage in the 21st century. The period since India adopted the new economic paradigm and the LEP has witnessed substantial transformation of its global relations, including with the rest of Asia. This has primarily been due to the recognition of India’s increasing capacities to address its developmental challenges, and the potential of its soon to be USD 1000 billion economy to provide substantial commercial opportunities. India has grown at an annual rate of nearly 6 % per annum since 1980. Contrary to perceptions, India has been able to sustain high levels of growth without significantly increasing income inequality8. India has no parallel in managing relatively peaceful and democratic transfer of political and economic power among different social classes. It thus appears that India’s growth experience has been inclusive, though there is no room for complacency.

Compared to East Asia, India’s growth strategy has relied relatively more on domestic markets, consumption rather than investments, decentralized entrepreneurial rather than state-led development9, and on financial and capital market intermediation in allocation of savings10 (Das, 2006; Huang, 2006, Morgan Stanley, 2006). India’s de-facto growth strategy is consistent with bottoms-up diagnostic approach to reforms advocated by Rodrik.

However as India begins to pursue policies leading to higher savings and investments,11 and as the role of external sector increases12, differences in India’s growth characteristics on the one hand and those of East Asia may narrow13. India is also attempting to develop a robust diversified manufacturing base14...
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