South Asian tensions seen dominating Indian BRICS summit

October 14, 2016

New Delhi, Oct 14: India will take its drive to isolate Pakistan and rally the international community against cross-border militancy to a summit of emerging market powers this weekend, when it hosts BRICS nations in Goa.

BRICSFor Prime Minister Narendra Modi , the gathering of leaders from Brazil, Russia, India, China and South Africa offers an opportunity to highlight the threat he sees to Indian security from recent frontier clashes with Pakistan.

But across the summit table at a resort hotel, Chinese President Xi Jinping is unlikely to have much interest in casting Beijing's alliance with Pakistan into doubt.

The final summit declaration is expected to repeat earlier condemnations of "terrorism in all its forms", say diplomats and analysts, but avoid levelling blame over tensions between the nuclear-armed South Asian rivals.

Such discussions will make security a dominant issue at the eighth annual summit of the group, even as leaders also address core themes such as the global economy, financial cooperation and mutual trade.

"We will be looking at the global economic and political situation, and obviously terrorism is a very important part of that," Amar Sinha, the Indian foreign ministry official responsible for the BRICS file, told a pre-summit briefing.

NOT JUST A "JOLLY PARTNER"

Where Modi and Xi may see eye to eye, at least privately, is in a shared desire for Islamabad to restrain Islamist militants who, in Beijing's view, pose a threat to China's plans to build a $46 billion trade corridor that runs through Pakistan to the Arabian Sea.

"Contrary to the public messaging in Islamabad, China is not the perpetual jolly partner when it comes to its relations with Pakistan," said Michael Kugelman, a senior program associate at the Wilson Center in Washington who focuses on South Asia.

"With China's investments and economic assets growing in Pakistan, it's only natural that it would worry. All militants, whether 'good' or 'bad' as characterised by Pakistan, threaten stability and by extension China's economic interests."

In addition to launching what it described as cross-border "surgical strikes" against suspected militants in Pakistan, in response to a September 18 attack on an army base that killed 19 Indian soldiers, New Delhi has mounted a diplomatic offensive to isolate Islamabad.

Pakistan has denied any part in the attack on the Uri army base, near the de facto border that runs through the disputed territory of Kashmir. It also denies any "surgical strikes" took place, saying there was only border firing that is relatively common along the frontier.

Islamabad says India has exploited the incident to divert attention from its own security crackdown on protests sparked by the killing of a popular separatist militant leader.

EXPRESSIONS OF SUPPORT

After the Uri attack, India quickly won expressions of support from the West and from Russia+ , whose President Vladimir Putin will also hold a bilateral summit with Modi in Goa.

China, for its part, has shown public restraint.

Zhao Gancheng, director of South Asia studies at the Shanghai Institute for International Studies, said that China and Pakistan were paying close attention to security threats to the trade corridor.

"If Pakistan's security situation does not improve, it will obstruct some of these projects - especially infrastructure ones," said Zhao. "In this sense, cooperation on counter-terrorism is very close."

India has already engineered the collapse of a South Asian regional summit to have been hosted by Pakistan, and the Goa gathering will also feature an outreach session to countries from the Bay of Bengal region that could emerge as an alternative focus of regional cooperation.

WORKING GROUPS

BRICS leaders will support plans agreed by their national security advisers to create three working groups to cooperate on cyber security, counter-terrorism and energy security, said Sinha, the Indian foreign ministry official.

But diplomats and analysts say that India's long-held ambition of joining the Nuclear Suppliers Group, a club of nuclear-trading nations, is unlikely to progress at Goa with China yet to soften its blocking stance.

And, despite concerns about militancy within Pakistan, China has rebuffed India's calls for the United Nations to designate Maulana Masood Azhar, leader of the Jaish-e-Mohammed group that India blames for recent cross-border attacks, as a terrorist.

China recently extended a so-called "hold" on the designation by a further three months.

That reflects an evolving rivalry between the world's two most populous nations in which, under Modi, India is seeking to close huge economic and military gaps and is shifting away from traditional non-alignment and seeking a closer partnership with the United States.

At the same time, China is expanding its economic and strategic reach into the Indian Ocean region, with Xi visiting Bangladesh on Friday en route to Goa where he is expected to sign loans worth $24 billion.

"Overall, it will be an awkward summit," said Shashank Joshi, a senior research fellow at the Royal United Services Institute in London.

He added that, for India, "diplomatic isolation of Pakistan will be the most important objective."

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News Network
March 4,2020

New Delhi, Mar 4: The government on Wednesday permitted NRIs to own up to 100 per cent stake in disinvestment-bound Air India.

The decision comes at a time when the government is looking to sell 100 per cent stake sale in the national carrier.

Union minister Prakash Javadekar said the Cabinet has approved allowing Non-Residents Indians (NRIs) to hold up to 100 per cent stake in Air India.

Allowing 100 per cent investment by Non-Resident Indians (NRIs) in the carrier would also not be in violation of SOEC norms. NRI investments would be treated as domestic investments.

Under the Substantial Ownership and Effective Control (SOEC) framework, which is followed in the airline industry globally, a carrier that flies overseas from a particular country should be substantially owned by that country's government or its nationals.

Currently, NRIs can acquire only 49 per cent in Air India. Foreign Direct Investment (FDI) in the airline is also 49 per cent through the government approval route.

As per the existing norms, 100 per cent FDI is permitted in scheduled domestic carriers, subject to certain conditions, including that it would not be applicable for overseas airlines.

In the case of scheduled airlines, 49 per cent FDI is permitted through automatic approval route and any such investment beyond that level requires government nod.

On January 27, the government came out witha Preliminary Information Memorandum (PIM) for Air India disinvestment. It has proposed selling 100 per cent stake in Air India along with budget airline Air India Express and the national carrier's 50 per cent stake in AISATS, an equal joint venture with Singapore Airlines.

Under the latest disinvestment plan, the successful bidder would have to take over only debt worth Rs 23,286.5 crore while the liabilities would be decided depending on current assets at the time of closing of the transaction.

This is the second attempt by the government in as many years to divest Air India, which has been in the red for long.

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News Network
April 16,2020

Kochi, Apr 16: A middle-aged man carrying his ailing father on his shoulders walked close to one-kilometre in Kerala’s Punalur when the autorickshaw he was driving was allegedly stopped by the police over the ongoing lockdown. He was bringing back his father from the hospital after he was discharged on Wednesday.

In a video that has gone viral on social media, the man can be seen carrying his bare-bodied father on the shoulders and struggling to handle the weight while a woman carrying the hospital documents, prescriptions and other items, is running along with him.

The incident took place in Punalur town of Kollam district.

The 65-year-old man, a native of Kulathupuzha, was released from the Punalur Taluk Hospital and his son was taking him home when he was stopped on the road. The man has alleged that even after he produced hospital documents, the police refused to let him pass with the autorickshaw.

The vehicle was stopped about a kilometre from their house in the middle of a traffic jam and the family had to walk the rest of the path. He said even after he told the police and showed papers from hospital he was not allowed to go.

After the video went viral in Kerala, the state human rights commission took suo motu cognizance of the incident.

The nationwide lockdown has prevented all non-essential movement in the public space while medical emergencies have been allowed. The extended lockdown will now continue till May 3.

According to the police, the vehicle did not have the patient when it was stopped. The driver was asked to show a declaration document.

He stepped out of the vehicle and walked to the hospital which was 200 metres from the checkpoint and returned carrying his father on the back, said the police.

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Agencies
May 13,2020

New Delhi, May 13: Finance Minister Nirmala Sitharaman on Wednesday announced Rs 3 lakh crore collateral-free automatic loan for businesses, including MSMEs.

This will benefit 45 lakh small businesses, she said detailing parts of the Rs 20 lakh crore economic stimulus package.

The loan will have 4-year tenure and will have a 12-month moratorium, she said.

Also, Rs 20,000 crore subordinated debt will be provided for stressed MSMEs, she said adding this would benefit 2 lakh such businesses.

The Finance Minister said a fund of funds for MSME is being created, which will infuse Rs 50,000 crore equity in MSMEs with growth potentials.

Also, MSME definition has been changed to allow units with investment up to Rs 1 crore to be called micro-units in place of Rs 25 lakh now.

Also units with turnover up to Rs 5 crore to be called micro-units, she said, adding a turnover based criteria is being introduced to define small businesses.

The investment and turnover limits for small and medium businesses have likewise been raised to allow them to retain fiscal and other benefits, she said.

Global tenders will be banned for government procurement up to Rs 200 crore, she said, adding this would help MSMEs to compete and supply in government tenders.

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JM
 - 
Thursday, 14 May 2020

Fully automatic loan..... not reachable to poor needy......

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