Indo-‐US Rela-ons in the Contemporary P eriod : E conomic Indo-‐US Rela-ons in the Contemporary and S: trategic Daimensions Period Economic nd Strategic -‐Dr. Shaji Sadasivan Dimensions -‐ N air India at a Glance Largest func-onal Democracy in the World A de facto Nuclear Weapon State One of the fastest Growing Economies in the World Second largest populous country World ‘s largest pool of Scien-sts and Engineers aJer US • Eighth largest industrial economy in the world • One of the most ac-ve state in global peace building (second largest troupe contributor to UN Peace Keeping Opera-ons) • • • • • Evolu-on of India’s Ties with US :Major Phases • Indo-‐US -es before India’s Independence • India-‐US Ties since Independence -‐Three Phases 1947-‐1991 1991-‐1997 1998-‐ Till Present India’s Ties with US before India’s independence • Period of limited contacts • Roosevelt's support to India’s independence India’s Ties with US since Independence -‐ Three Phases 1947-‐1991 • Phase of mixed outcomes -‐ India’s emphasis on Non-‐alignment -‐ Differing views on economic systems -‐ Cold War Dynamics 1991-‐ 1997 (Structural Factors, DomesCc Factors, Personality Factors) • Improved Rela-ons with US, • de-‐emphasis on India’s policy of non-‐alignment, • Restructuring of the economy 1998-‐ Till Present • India’s Nuclearisa-ons • LiJing of Sanc-ons • Indo-‐US Civilian Nuclear Deal • Emphasis on Defense Coopera-on and Trade Indo-‐US Ties : A reflec-on of tangible rela-ons Major Areas of Coopera-on • Ten year Defense Strategic Framework Agreement -‐ Trade of Military Equipments/Hardware -‐ Military Exercises • Economic Factor -‐ Expansion of Trade and Business • Science and Technology Partnerships. Major Areas of Disagreements -‐ Certain Economic Disputes -‐ Nuclear and Missile Issues Indo-‐US Nuclear Deal :Significance • Paradigm shiJ in the US policy towards India • Coopera-on in the field of Civilian Nuclear Technology aJer a gap of thirty years • Manifold implica-ons for foreign and security policies of the country • De facto acceptance of India as a nuclear power Indian Perspec-ve • Acainment of Energy security • Strategic Alliance • Catalyst for Economic Coopera-on US Perspec-ve • Enhancement in trade of Nuclear Reactors • To ease tremendous pressure on interna-onal hydro-‐carbon market Geo-‐strategic factors Major strategic trends in Indo-‐US rela-ons • Common values and Geo-‐strategic Interest -‐ Indo-‐US rela-ons -‐ China Dimension -‐ Indo-‐US rela-ons -‐ Pakistan Factor -‐ Indo-‐US rela-ons -‐ Impact on Indian Ocean Major Economic Trends Indo-‐US rela-ons • US interest in expanding Indian market-‐largest investment partner in India • US interest in India’ service sector and its skilled human resources, ICT related areas • India’s interest in US technology and finance Trade and Commerce in India’s Rela-ons with US • • • • Trade and commerce cons-tute the core of the rapidly expanding and mul--‐ faceted rela-ons between India and U.S. The bilateral trade in merchandise goods has increased from a $ 5.6 billion in 1990, to $ 62.9 billion in 2012 ( growth of more than 1000 % ) Overall ,bilateral trade touched $100 billion in 2012. US has emerged as the largest contributor to Foreign Direct Investment in India Concluding Remarks • India and United States entered into new era of coopera-on like never before in the Post-‐Cold War period. • Both India and United States redefined their -es with each other in the changed interna-onal context • Such redefined -es reflected tangible commerce and trade in the realm of economy and enhanced defense coopera-on in the realm of strategy • Indo-‐US nuclear deal of 2005-‐06 period is a major watershed in the rela-ons between two countries. • Indo-‐US -es are generally perceived to have long tem impacts in the regional and global architecture of economy and strategy while delivering posi-ve outcomes for both the countries, especially in the context of the shiJ of global balance of power from the Atlan-c to Asia –Pacific.
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