Paper: GS – II, Subject: International Relations, Topic: India’s Relation with Other Nation, Issue: India – Central Asia Relations.
Context:
The recent statements made by India’s External Affairs Minister, S. Jaishankar, emphasizing the necessity of bolstering India-Central Asia ties.
Key Takeaways:
Key Points from Jaishankar’s Address:
- Investment in Connectivity of India-Central Asia ties: Jaishankar highlighted the need for increased efforts and resources to improve India-Central Asia ties.
- He stressed the importance of the Chabahar port in Iran as a critical link for trade between India and Central Asia.
- Mutual Settlement of Trade: The Minister advocated for the “mutual settlement of trade” in national currencies, which could simplify transactions and reduce dependency on foreign currencies.
- Discussions are ongoing under the Joint Working Group on Chabahar Port to facilitate this initiative.
- International North South Transport Corridor (INSTC): Jaishankar pointed out the necessity to energize the INSTC to enhance trade routes and reduce travel distances and costs between India and Central Asia.
Jaishankar’s call to action emphasizes the importance of strengthening India-Central Asia ties through enhanced trade, connectivity, and mutual cooperation. By addressing the challenges and implementing strategic measures, both regions can unlock their full economic potential.
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