‘FASTER’, an abbreviation of ‘Fast and Secured Transmission of Electronic Records’, a digital platform was formally launched by Chief Justice of India (CJI) N.V. Ramana.
What is FASTER?
The FASTER system proposes transmission of e-authenticated copies of the interim orders, stay orders, bail orders and record of proceedings to the duty-holders for compliance and due execution, through a secured electronic communication channel.
These orders may vary from stay of execution of a person to freeze on the demolition of a slum to bail orders for undertrial prisoners.
The idea stemmed from a case reported about several prisoners in the Agra Jail forced to remain behind bars for three days after the hard copies of the order had not reached the prison officials.
Benefits offered
FASTER would aid the cause of quick and effortless justice.
The timely delivery of the court’s orders to the authorities would also prevent unnecessary arrests and custody of people who have already been granted anticipatory bail.
For smooth transmission of court’s orders and effective implementation of Article 21, Right to Life, such a system was the need of the hour.
The Lok Sabha has approved a Bill to amend the Chartered Accountants Act, 1949, the law that governs the Institute of Chartered Accountants of India (ICAI).
What are the changes proposed in the Bill?
Introduced in the Lok Sabha on December 17, 2021, and titled the Chartered Accountants, the Cost and Works Accountants and the Company Secretaries (Amendment) Bill, 2021.
The key changes it proposes are in the area of discipline and governance and administration.
1] Discipline: The ICAI’s disciplinary committee and board of discipline will be chaired by non-chartered accountants (CA),
Its elected council members will no longer be in a majority in them.
2] Governance and administration: The term of the ICAI’s Council will be raised from three to four years, the maximum number of consecutive terms for its elected members will be reduced to two from the current three;
The ICAI’s Secretary will replace the ICAI’s president as its chief executive and perform the functions to be specified;
The ICAI will appoint its auditor from the Comptroller and Auditor-General of India’s panel of CA firms;
The Government will form a coordination committee for the ICAI and the Institutes of Cost Accountants and Company Secretaries of India.
The Parliamentary Standing Committee on Finance has endorsed these changes and has further recommended an end to the ICAI’s monopoly in certification.
Challenges facing Chartered Accountancy and ICAI
1] Lacking critical thinking and analytical ability
Senior industry managers say that many CAs do not have what it takes to succeed in the corporate world, i.e., analytical ability, critical thinking, appreciation of the business context, grasp of technology, and communication and presentation skills.
CA students do not have in-class interaction.
Also, the coaching is focused on cracking examinations rather than facilitating understanding and application.
2] Poor record in disciplining members
The ICAI’s record in disciplining its members is even more problematic.
There have been persistent complaints that the ICAI is lax in acting against errant members.
In 2018, the Government had set up the National Financial Reporting Authority as India’s first independent regulator of accounting and audit.
The proposed changes in the composition of the ICAI’s disciplinary arms will further limit its role.
As a result, the ICAI will be effectively reduced to an examination board.
3] ICAI failed to keep pace with changes
The ICAI was set up in 1949, largely as the Indian version of the U.K. institute
Much of the work that CAs do and clamour for is a remnant of the licence raj.
Many businesses and professions have changed beyond recognition as a result of the economic reforms initiated in 1991.
The demutualised and technology-driven National Stock Exchange of India has transformed stock-broking.
Indian IT and pharma companies now compete successfully with the best in the world.
In contrast, CA has not kept pace with the changes in India’s dynamic economy and changing society.
Overseas accountancy qualifications such as the Association of Chartered Certified Accountants (ACCA) and Chartered Institute of Management Accountants (CIMA) are gaining popularity in India, perhaps because they are recognised worldwide, are more relevant to current and future needs, and are accepted even in India by global companies and global accounting firms.
4] Challenges posed by technology such as AI/ML
Accounting and auditing are more amenable to the replacement of humans by technology.
AI, robotics, and other technological advances are likely to reduce the need for human intervention in accounting.
Also, recent administrative reforms aimed at enabling ease of doing business and ease of living, such as faceless tax assessment, easy filing of tax returns, prompt refunds, rising threshold for tax audit, and abolition of Goods and Services Tax audit have greatly reduced the availability of captive, government-mandated, make-work business for CAs.
Way forward
Setting IIAs: The Parliamentary Committee’s suggestion to set up a string of Indian Institutes of Accounting (IIAs) on the lines of the Indian Institutes of Technology (IIT) and the Indian Institutes of Management (IIM) is innovative.
At one level, they will end the ICAI’s statutory monopoly over certification.
More competition should result in better quality and higher standards of conduct.
Conclusion
The Bill and the Parliamentary Committee’s report can be seen as efforts to drag the ICAI to the contemporary world. It would be wise to read the proposed changes as a warning and respond maturely.
Lithium has been among the most sought-after mineral during the past few years, largely on the back of its usage in battery manufacturing.
India is at odds with a major import source for the mineral, China.
About Lithium
Lithium is a chemical element with the symbol Li and atomic number 3.
It is a soft, silvery-white alkali metal. Under standard conditions, it is the lightest metal and the lightest solid element.
Like all alkali metals, lithium is highly reactive and flammable and must be stored in mineral oil.
When cut, it exhibits a metallic lustre, but moist air corrodes it quickly to a dull silvery grey, then black tarnish.
Lithium metal is isolated electrolytically from a mixture of lithium chloride and potassium chloride.
It is a crucial building block of the lithium-ion rechargeable batteries that power electric vehicles (EVs), laptops and mobile phones.
Lithium-ion batteries
A lithium-ion battery or Li-ion battery is a type of rechargeable battery.
They are commonly used for portable electronics and electric vehicles and are growing in popularity for military and aerospace applications.
A prototype Li-ion battery was developed by Akira Yoshino in 1985, based on earlier research by John Goodenough, M. Stanley Whittingham, Rachid Yazami and Koichi Mizushima during the 1970s–1980s.
In 2019, the Nobel Prize in Chemistry was given to this trio “for the development of lithium-ion batteries”.
Global producers of lithium
Australia and Chile have swapped positions as the world’s leading lithium-producing country over the past decade. In 2019, the world’s Top 5 lithium producers were:
Australia – 52.9% of global production
Chile – 21.5%
China – 9.7%
Argentina – 8.3%
Zimbabwe – 2.1%
The U.S. ranked 7th with 1.2% of the world’s lithium production.
In 2019, the world’s Top 5 lithium reserves by country were:
Chile – 55.5% of the world’s total
Australia – 18.1%
Argentina – 11.0%
China – 6.5%
U.S. – 4.1%
Why is India looking for lithium?
India has been scouting for lithium reserves since the Centre’s push to boost the adoption of electric vehicles (EVs) in the country.
The ₹18,000 crore production-linked incentive scheme for advanced chemistry cell (ACC) battery storage, a flagship incentive scheme for the industry has kicked off.
However, the supply of lithium, which is largely an imported product, has declined.
With India being in a diplomatic tussle with China, the supplies from the neighbouring country have declined and India too is looking for other import avenues.
Why has the supply of lithium declined?
The supply of lithium has not been in line with the surge in demand from electric vehicle makers across the world.
China also is witnessing a mismatch between demand and supply, which has led to a rise in prices.
The Indian Space Research Organisation (ISRO) is building up its orbital debris tracking capability by deploying new radars and optical telescopes under the Network for Space Objects Tracking and Analysis (NETRA) project.
Project NETRA
The project will give India its own capability in space situational awareness (SSA) like the other space powers — which is used to ‘predict’ threats from debris to Indian satellites.
NETRA’s eventual goal is to capture the GEO, or geostationary orbit, scene at 36,000 km where communication satellites operate.
The initial SSA will first be for low-earth orbits or LEO which have remote-sensing spacecraft.
Under NETRA the ISRO plans to put up many observational facilities: connected radars, telescopes; data processing units and a control centre.
They can, among others, spot, track and catalogue objects as small as 10 cm, up to a range of 3,400 km and equal to a space orbit of around 2,000 km.
The NETRA effort would make India a part of international efforts towards tracking, warning about and mitigating space debris.
What NETRA consists of?
In the plans are a high-precision, long range telescope in Leh and a radar in the North East.
Along with them, we will also use the Multi-Object Tracking Radar (MOTR) that we have put up at the Satish Dhawan Space Centre in Sriharikota, and the telescopes at Ponmudi and Mount Abu to get a broad SSA picture.
NORAD, or the North American Aerospace Defense Command, is an initiative of the U.S. and Canada that shares selective debris data with many countries.
The new SSA centre would consolidate debris tracking activities that are now spread across ISRO centres.
Currently there are 15 functional Indian communication satellites in the geostationary orbit of 36,000 km; 13 remote sensing satellites in LEO of up to 2,000 km; and eight navigation satellites in medium earth orbits.
Why Space debris matters?
Space junk or debris consists of spent rocket stages, dead satellites, fragments of space objects and debris resulting from ASAT.
Hurtling at an average speed of 27,000 kmph in LEO, these objects pose a very real threat as collisions involving even centimetre-sized fragments can be lethal to satellites.
Last year, ISRO monitored 4,382 events in LEO and 3,148 events in the geostationary orbit where space objects closely approached Indian assets.
Fragments from the Fengyun-1C satellite (part of the anti-satellite test (ASAT) by China in 2007) and the Cosmos 2251-Iridium satellite collision in 2009 accounted for the maximum number of these threats.
The observations also covered 84 “close approaches of less than one km” between Starlink satellites and Indian assets.
Enhancing Space situational awareness (SSA)
India, as a responsible space power, should have SSA as a part of a national capability, as in the U.S. This is a vital requirement for protecting our space assets and a force multiplier.
The SSA has a military quotient to it and adds a new ring to the country’s overall security.
It uses satellites, ground and air radars to secure its two countries against attacks from air, space or sea.
With long-range tracking radars, the SSA also provides us the capability of an early warning system against ballistic missiles coming in at a height.
Apart from radars and telescopes, he said India should also think of deploying satellites that track other satellites — as the U.S. and other space powers had done.
Combined with other elements of military intelligence SSA would help us to understand motives behind any suspicious orbit changes of other satellites and to know if they were spying on or harming our spacecraft.
Earlier this month, the Union Cabinet has approved the setting up of the National Land Monetization Corporation (NLMC) to monetize surplus land and building assets of Central Public Sector Enterprises (CPSEs) and other agencies linked to the Government.
In this article, we will study how effective is this going to be, considering land monetization is a complex process, what potential challenges could NLMC face in the whole process, what roles and responsibilities will this separate agency be entrusted with?
What is NLMC?
The NLMC will be a firm, fully owned by the government, to carry out the monetisation of government and public sector assets in the form of surplus, unused or underused land assets.
It will fall under the administrative jurisdiction of the Ministry of Finance.
It will be set up with an initial authorised share capital of ₹5,000 crore and a paid-up capital of ₹150 crore.
Surplus land and building assets of CPSEs are expected to be transferred to the NLMC, which will then hold, manage and monetise them.
Functions of NLMC
The NLMC will-
Monetize underutilised or unused land parcels of Central Public Sector Enterprises (CPSEs)
Facilitate the monetisation of assets belonging to PSUs that have ceased operations or are in line for a strategic disinvestment
Actas an advisory body and support other government entities and CPSEs in identifying their surplus non-core assets
Benefits offered
Speeding up disinvestment: The setting of the NLMC will speed up the closure process of the CPSEs and smoothen the strategic disinvestment process.
Productive utilization of stagnant assets: It will also enable productive utilisation of these under-utilised assets by setting in motion private sector investments.
Easing up of finances: It will boost new economic activities such as industrialisation, boosting the local economy by generating employment and generating resources for potential economic and social infrastructure.
Maximum value realization: It will help monetising them in an efficient and professional manner, maximising the scope of value realisation.
What does monetization mean?
When the government monetises its assets, it essentially means that it is transferring the revenue rights of the asset (could be idle land, infrastructure, PSU) to a private player for a specified period of time.
In such a transaction, the government gets in return an:
Upfront payment from the private entity
Regular share of the revenue generated from the asset
Promise of steady investment into the asset, and
Title rights to the monetised asset
Why need monetization?
There are different reasons why the government monetizes its assets.
Revenue shortfall: One of them is to create new sources of revenue.
Pandemic damage control: The economy has already been hit due to the coronavirus pandemic and revenues are essential to fulfil the Modi government’s target of achieving a $5 trillion economy.
Risk management: Monetisation is also done to unlock the potential of unused or underused assets by involving institutional investors or private players.
Capital generation: It is also done to generate resources or capital for future asset creation, such as using the money generated from monetisation to create new infrastructure projects.
Need for NLMC
Professional dealing in negotiations: The firm will hire professionals from the private sector with a merit based approach
Market expertise: Asset monetisation of real estate requires expertise in valuation of property, market research, investment banking, land management, legal diligence and other related skill sets.
Global best practices: NLMC will undertake monetisation as an agency function and is expected to act as a directory of best practices in land monetisation.
How much land is currently available for monetization?
According to the Economic Survey 2021-2022, as of now, CPSEs have put nearly 3,400 acresof land on the table for potential monetisation.
They have referred this land to the Department of Investment and Public Asset Management (DIPAM).
As per the survey, monetisation of non-core assets of PSUs such as MTNL, BSNL, BPCL, B&R, BEML, HMT Ltd, Instrumentation Ltd etc. are at different stages.
Challenges to the NLMC
(a) Volatile market situation
The performance and productivity of the NLMC will also depend on the government’s performance on its disinvestment targets.
For example, the Life Insurance Corporation IPO, which was supposed to raise ₹60,000 crore is now shrouded in uncertainty owing to the Russia-Ukraine crisis making stock markets volatile.
If the IPO does not hit the markets by the end of March, the government would be missing its disinvestment targets by a wide margin.
(b) Issues with the transfer of rights
The process of asset monetisation does not end when the government transfers revenue rights to private players.
Identifying profitable revenue streams for the monetised land assets, ensuring adequate investment by the private player and setting up a dispute-resolution mechanism are also important tasks.
(c) Unattractiveness of PPP Model
Posing as another potential challenge would be the use of Public Private Partnerships (PPPs) as a monetisation model.
For instance, the results of the Centre’s PPP initiative launched in 2020 for the Railways were not encouraging.
It had invited private parties to run 150 trains of the Indian Railways but when bids were thrown open, nine clusters of trains saw no bidders.
Criticisms of NLMC
It militates philosophy of privatisation: PM has propounded more than once: the business of government is not business. Setting up a CPSE to help sell or shut down the existing CPSEs doesn’t appear quite congruous.
Privatisation process is not new: Dozens of companies have been sold; in many more, minority stakes have been offloaded. So, if the existing process has served so well, why try something new?
Conflict of interest: NLMC may have a turf war with the Department of Investment and Public Asset Management (DIPAM) which is tasked with similar functions.
Nature of NLMC: The government organs tend to acquire a life of their own. The National Anti-Profiteering Authority (NAA) is a case in point. It was supposed to be wound up in two years but still getting extensions.
Public land being sold: Publicly owned lands in a democracy are literally owned by the public. They are held in trust on behalf of the public by governments or government agencies.
Sale of crucial assets: Land holdings are one of the government’s most significant tangible assets, whether owned by central ministries, state governments, public sector undertakings or local bodies.
Way forward
There is a need to monetise non-core unused and under-used assets that would help the government generate substantial revenues.
For CPSEs undergoing strategic disinvestment or closure, monetisation of these stagnant surplus land and non-core assets is important to unlock their value.
There is a need to create a comprehensive inventory of public land and synergize the existing Government Land Information System (GLIS).
The population of the greater one-horned or Indian rhinoceros in the Kaziranga National Park and Tiger Reserve has increased by 200 (from 2413 in 2018) in four years, the latest census of the flagship animal has revealed.
About Indian Rhino
The Indian rhinoceros also called the greater one-horned rhinoceros and great Indian rhinoceros is a rhinoceros native to the Indian subcontinent.
It is listed as Vulnerable on the IUCN Red List and Schedule I animal in the Wildlife Protection Act, 1972.
It once ranged across the entire northern part of the Indian Subcontinent, along the Indus, Ganges and Brahmaputra River basins, from Pakistan to the Indian-Myanmar border.
Poaching for rhinoceros horn became the single most important reason for the decline of the Indian rhino.
Why are Rhinos poached for horns?
Ground rhino horn is used in traditional Chinese medicine to cure a range of ailments, from cancer to hangovers, and also as an aphrodisiac.
In Vietnam, possessing a rhino horn is considered a status symbol.
Due to demand in these countries, poaching pressure on rhinos is ever persistent against which one cannot let the guard down.
Try this PYQ:
Q. Consider the following statements:
Asiatic lion is naturally found in India only.
Double-humped camel is naturally found in India only.
One-horned rhinoceros is naturally found in India only.
Which of the statements given above is/are correct?
(a) 1 only
(b) 2 only
(c) 1 and 3 only
(d) 1, 2 and 3
[wpdiscuz-feedback id=”fp1gk14f8l” question=”Please leave a feedback on this” opened=”1″]Post your answers here.[/wpdiscuz-feedback]
A massive fire has broken out in the Sariska Tiger Reserve and Air Force helicopters equipped with water sprays are battling to bring it under control.
Sariska Tiger Reserve
Sariska Tiger Reserve is a tiger reserve in Alwar district, Rajasthan.
It stretches over an area of 881 sq km comprising scrub-thorn arid forests, dry deciduous forests, grasslands, and rocky hills.
This area was a hunting preserve of the Alwar state and was declared a wildlife sanctuary in 1958.
It was given the status of a tiger reserve making it a part of India’s Project Tiger in 1978.
It is the first reserve in the world with successfully relocated tigers.
It is a part of the Aravalli Range and the Khathiar-Gir dry deciduous forests eco-region.
Existential threats
It is rich in mineral resources, such as copper.
In spite of the Supreme Court’s 1991 ban on mining in the area, marble mining continues to threaten the environment.
Earlier this week, PM Modi and his Australian counterpart Scott Morrison held a virtual summit – the second one since June 2020.
Both nations agreed to unlock the untapped potential in bilateral trade and investment.
They highlighted the need to conclude the proposed Comprehensive Economic Cooperation Agreement (CECA) at the earliest.
India-Australia Relations: A Backgrounder
The India-Australia bilateral relationship has undergone evolution in recent years, developing along a positive track, into a friendly partnership.
The two nations have much in common, underpinned by shared values of a pluralistic, Westminster-style democracies, Commonwealth traditions, expanding economic engagement etc.
Several commonalities include strong, vibrant, secular and multicultural democracies, free press, independent judicial system and English language.
Historical Perspective
The historical ties between India and Australia started immediately following European settlement in Australia from 1788.
All trade, to and fro from the penal colony of New South Wales was controlled by the British East India Company through Kolkata.
India and Australia established diplomatic relations in the pre-Independence period, with the establishment of India Trade Office in Sydney in 1941.
The end of the Cold War and simultaneously, India’s decision to launch major economic reforms in 1991 provided the first positive move towards development of bilateral ties.
Various dimensions of ties
[A] Political partnership
Both the countries are members of G-20, ASEAN Regional Forum (ARF), IORA (Indian Ocean Rim Association), Asia Pacific Partnership on Climate and Clean Development, East Asia Summit and the Commonwealth.
Australia has been extremely supportive of India’s quest for membership of the APEC (Asia Pacific Economic Cooperation).
Australia whole-heartedly welcomed India’s joining of the MTCR (Missile Technology Control Regime).
[B] Trade and Economy
India is the 5th largest trade partner of Australia with trade in goods and services.
Two-way trade between India and Australia was worth A$24.3 billion ($18.3 billion) in 2020, up from just $13.6 billion in 2007, according to the Australian government.
After a series of attempts, in 2016, Australia opened the door for uranium exports to India.
An Australia-India Strategic Research Fund (AISRF) which was established in 2006, supports collaboration between scientists in India and Australia on cutting-edge research.
[C] Cultural ties
There is a longstanding people-to-people ties, ever increasing Indian students coming to Australia for higher education.
Growing tourism and sporting links, especially Cricket and Hockey, have played a significant role in further strengthening bilateral relations between the two countries.
India is one of the top sources of skilled immigrants to Australia.
The number of Indian students continue to grow with approximately 105,000 students presently studying in Australian universities.
After England, India is the second largest migrant group in Australia in 2020.
[D] Strategic Partnership
In 2009, India and Australia established a ‘Strategic Partnership’, including a Joint Declaration on Security Cooperation which has been further elevated to Comprehensive Strategic Partnership in 2020.
The Mutual Logistics Support Agreement has been signed during the summit that should enhance defence cooperation and ease the conduct of large-scale joint military exercises.
There is a technical Agreement on White Shipping Information Exchange.
Both nations conduct bilateral maritime exercise AUSINDEX. In 2018, Indian Air Force participated for the first time in the Exercise Pitch Black in Australia.
Foreign and Defence Ministers of both countries agreed to meet in a ‘2+2’ format biennially.
The first-ever Quad Leaders’ Virtual Summit held on 12 March 2021 saw the participation of Prime Ministers of India, Australia, Japan and President of USA.
A Civil Nuclear Cooperation Agreement between the two countries was signed in September 2014 during the visit of then PM Tony Abbott to India.
Significance of the ties
COVID Management: Australia is one of the few countries that has managed to combat COVID-19 so far through “controlled adaptation” by which the coronavirus has been suppressed to very low levels.
STEM: From farming practices through food processing, supply and distribution to consumers, the Australian agribusiness sector has the desired R&D capacity, experience and technical knowledge.
Natural resources: Australia is rich in natural resources that India’s growing economy needs. It also has huge reservoirs of strength in higher education, scientific and technological research.
Alliance with US: The two countries also have increasingly common military platforms as India’s defence purchases from the US continue to grow.
Affinity with ASEAN: Australia has deep economic, political and security connections with the ASEAN and a strategic partnership with one of the leading non-aligned nations, Indonesia.
Containing China: The Indo-Pacific region has the potential to facilitate connectivity and trade between India and Australia. Both nations can leverage their equation in QUAD to contain China.
International cooperation
Support at UNSC: Australia supports India’s candidature in an expanded UN Security Council.
APEC: Australia is an important player in APEC and supports India’s membership of the organisation. In 2008, Australia became an Observer in SAARC.
Some irritants in ties
Trade imbalance: India’s trade deficit with Australia has been increasing since 2001-02 due to India-Australia Free Trade Agreement. It is also a contentious issue in the ongoing RCEP negotiations which India left.
High tariff on agri products in India: India has a high tariff for agriculture and dairy products which makes it difficult for Australian exporters to export these items to India.
Non-tariff barriers in Australia: At the same time, India facesnon-tariff barriers and its skilled professionals in the Australian labour market face discrimination.
Visa Policy: India wants greater free movement and relaxed visa norms for its IT professionals, on which Australia is reluctant.
Future of QUAD: Australian lobby has sparked speculation over the fate of the Quadrilateral Consultative Dialogue (the ‘Quad) involving India, Australia, Japan and the United States.
Nuclear reluctance: Building consensus on non-nuclear proliferation and disarmament has been a major hurdle given India’s status as a nuclear power.
Racism against Indians: Increasing Racist attacks on Indians in Australia has been a major issue.
Way forward
Upgradation of 2+2 format: It is prudent too for New Delhi and Canberra to elevate the ‘two plus two’ format for talks from the Secretary level to the level of Foreign and Defence Ministers.
Removal of trade barriers: Both nations need to resolve disputes at the WTO with regard to the Australian sector can act as a serious impediment.
Balancing China: An ‘engage and balance’ China strategy is the best alternative to the dead end of containment.
Conclusion
Given the changing geopolitics, both Canberra and New Delhi are keen to move beyond mere rhetoric and build a robust partnership
The key is to keep the Australia story thriving in India, and India story thriving in Australia on a consistent basis in public memory.
This involves a holistic multi-stakeholder strategy and approach which deepens understanding and appreciation of each other.
This is the edited excerpts from the lecture delivered by India’s External Affairs Minister at St. Stephen’s College, Delhi on March 24.
Relevance of foreign policy at personal level
Through a good foreign policy, our everyday needs from the world must be better met.
And since we are a collective as a country, our national security must be assured.
Foreign policy being the link to the outside, it should enable us to draw what we seek.
This could be in terms of technology or capital, best practices, or even work opportunities.
And obviously, we would all like to be strong; we would like to look good and we would like to feel appreciated.
Recent instances in which India’s foreign policy directly influence the common man
Through Operation Ganga, Indian students stuck in Ukraine were brought home.
It was the result of intervention by India’s foreign policy apparatus at the highest levels in Russia and Ukraine to ensure the ceasing of fire for safe passage.
When the first wave of Covid hit India in 2020, we scrambled across the world to secure PPEs, masks and ventilators.
And we did so in a seller’s market as the demand far exceeded supply.
The second wave in 2021 saw a similar spike in demand for oxygen and specialised medicines from abroad.
Locating, negotiating and contracting supplies became the priority for Indian diplomacy. And it bent its back to deliver.
Influence of foreign policy at the collective level
When it comes to security, external or internal, diplomacy could be a preventive, a mitigator or a problem-solver.
It can help raise awareness of a shared threat, just as it can find partners against common dangers.
And then there is the economy, with its search for investment, technology and best practices.
In each of these sectors, foreign relationships can accelerate India’s progress.
And cumulatively, they expand employment and improve your quality of life.
It also matters to all of us what other nations think of India, our culture and our way of life.
Role of foreign policy in delivering on development
The most effective foreign policy is one that delivers on development.
In Asia, all modernising economies have single-mindedly focused their external interactions on obtaining capital, technology and best practices from abroad.
It may be information technology or auto manufacturing, food production or food processing, metros or bullet trains, space capabilities or nuclear energy; the fruits of foreign collaboration are there today for all of us to see.
Newer challenges like green growth and climate action have started to open up still more possibilities.
All this happens because of our ability to identify, engage, negotiate and leverage opportunities of interest abroad across many many domains.
Building blocks of India’s foreign policy
The six broad objectives that were spelt out to the policy-makers and implementers were clear.
1] Shaping global perception: We must bring about a change of thinking in the world about us.
2] Partnership on equal terms: The partnerships we should create should be on more equal terms, and with smaller countries, more generous.
3] Shaping the global agenda: The global agenda and the big issues of our times should be shaped by India as much as possible.
4] Leveraging foreign policy for domestic progress: Foreign relationships should be actively explored and leveraged for domestic development and progress.
5] People-centric foreign policy: The very conceptualisation of foreign policy should be more people-centric.
6] Our culture, traditions and thoughts should percolate our own articulation as well as influence international debates and initiatives.
Yoga and Ayurveda were obvious examples in this regard.
Conclusion
As we mark 75 years of independence, Azadi ka Amrit Mahotsav, there is good cause to be confident about our prospects. But to be so, it is equally important to be aware of the opportunities and challenges that the world currently presents. And surely, we can be so once we appreciate how much foreign policy really matters.
