ASEAN summit: Modi hard-sells India as an attractive investment destination (The Hindu) And Eastern promise (The Hindu)

ASEAN summit: Modi hard-sells India as an attractive investment destination (The Hindu) And Eastern promise (The Hindu)

Context

Prime Minister Narendra Modi’s visit to the Philippines to attend the ASEAN-India summit, the East Asia Summit and the Regional Comprehensive Economic Partnership summit has put India centre-stage in the Asian region now referred to as “Indo-Pacific”.

What is ASEAN?

• The Association of Southeast Asian Nations (ASEAN) comprises of Indonesia, Singapore, Philippines, Malaysia, Brunei, Thailand, Cambodia, Lao PDR, Myanmar and Vietnam.
• India’s relationship with ASEAN is an outcome of the significant changes in the world’s political and economic scenario since the early 1990s.

Look East Policy

• ‘Look East Policy’ is India’s research for economic space.
• The Look East Policy has today turned into a dynamic and action oriented ‘Act East Policy.
• PM at the 12th ASEAN India Summit and the 9th East Asia Summit held in Nay Pyi Taw, Myanmar, in November, 2014, formally enunciated the Act East Policy.
• India’s relationship with ASEAN is a key pillar of our foreign policy and the foundation of our Act East Policy.

The Quad pivot

• The Japan-proposed, U.S.-endorsed plan, including Australia, it is necessary that India analyze the impact of this admission on all its relations.
• As a growing economy with ambitious domestic targets, India’s own needs often clashwith those of its neighbours.
• More connectivity will eventually mean more competition, whether it is for trade, water resources, or energy.

What is the significance of the meet?

• The meet comes after Japan publicly proposed the quadrilateral with India, US and Australia and then Canberra indicated its willingness to be a part of the political-security dialogue among the four democracies
• The meet aims to counter China’s aggressive maritime expansion under its Belt and Road Initiative.

What is the Look East Policy?

• It was launched by former Prime Minister P.V. Narasimha Rao in 1991.
• It had only south-eastern countries to aim under the policy
• It aims at reconnecting Asia as part of India’s economic globalization.

Why do a separate policy of East Asia is needed?

• Economic slump and balanced of payment crisis in mid-1991 in India due to Gulf war.
• Collapse of Soviet Union (cold war end- 1990), created a strategic and economic vacuum in India.
• China’s economic reform (shift from communism to market socialism) prompted India to reach out to south east Asia to avoid falling into a subordinate political and economic role in the region.
• India’s desire to stabilize north eastern states where insurgency was picking up it pace.

What are the objectives of look East policy?

• Regional economic integration and ties with ASEAN countries- BIMSTEC, Mekong Ganga etc.
• To trace back and review the implementation of the Look East Policy over the past 30 years.
• To gather all parties involved directly or indirectly with the Look East Policy and create new cooperation networks through an academic event.
• To provide an avenue for sharing of opinion and exchanging ideas while discussing the achievements of the Look East Policy and its future.
• To formally gather official feedback through speeches, forums, paper presentations, and journal article publications.
• Development of northeastern states- connectivity with south eastern countries via roads, railways etc and infrastructure development.
• To balance China’s influence in this region.
• Diplomatic engagement with southeast to border security and defence ties.