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Why India looks at BRIC? Bookmark and Share  
 
  Author Name : K Ramesh Babu Posted on : June-5-2010 Total Hits: 717
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Since the days of Independence India looks out external assistance in regard of technological matters, because the modern day economy more driven with advanced technology. India’s first space launch of Aryabhata satellite occurred in mid-1970’s after 25 years of independence.  

 

Technology for high end industrial development catered by soviet bloc during the cold war period and additionally supported by other allies like East Germany and Czech etc., India always at the foreign help in establishing institutions of importance.

 

Given the current international political scenario where there are no blocs, regional infightings, sporadic arms race; BRIC countries have larger resources left to improve their influence on still to catch up with development economies in particularly Africa and Asia.

 

These countries have attained with nuclear capabilities, fast growing economic set-up and uniform pattern in adjusting and contradicting the only ‘super power’ the US.

 

India’s case for sole democratic system that has successfully came out  of lack of growth crisis that was looming large in early 1990’s , now has a glittering model to exhibit with others who did not achieve that so far.

 

Russia, which is transforming itself after its rebirth some, and struggling economically but has vast resources under its kitty, could leverage better technical assistance to any country.

 

The dragon, a senior on reformist path has a blueprint for successful growth strategy that may be beneficial to others. It has a shadow boxing with India in Africa has considerably increased its presence in the Dark Continent.

 

Brazil, a lonely wonder from the much remote world of Latin America, after 1990’s got prominence following it’s substantial growth.

 

These four countries having greater influence in the G-20 and other international bodies yet to achieve that US and European countries have been doing for the last 55 years.

 

Their aspiration to rule across the world since representing each continent apart from Africa is a dichotomy since three of them lie in Asia, major.

 

The only partner left with the four but an important ally is South Africa, a sole representative of African voice. India-Brazil-South Africa has a forum to knit a network among them as Russia and China are permanent members of UN Security Council and enjoy veto powers that bestowed with them.

 

As reported from the Summit held two months back and current ongoing USIBC convention and South African president Zuma’s visit to India reiterate that these four have some level determination in three things UN reforms, International Financial Institutions reforms and Climate Change negotiations.

 

However, how far Russia and China will give room for others is a question since their ambition to lead a larger role in Asia, Europe and international financial markets are well known. Still date US has to be strict with China over its Yuan appreciation against Dollar and changing to old gold standard exchange system.

 

As Obama summarized India may be a responsible power to be reckon with as China meddling in the affairs with Iran, South Korea and Pakistan (in particular when against Indian interests) and Russia is an old suspicious cohabitant , it has to move with India for a long term strategy in the region as well as international arena. 

 

In the post recession economic recovery US has to be with growing powers like India for mutual long term prosperity. Europe’s subsistence economic cycles prevent it from external expansion rather than 32 entwine internal injective growth. The recent ample example is the Greek crisis where they faced a catch-22 situation.

 

As long as the capitalist expansion is not happening extensively and intensively the problem of creating blocs and alignments re-alignments is a subject matter of discussions.

 

Summarizing, the nest 25 years of growth is at the hands of poor of Africa, Asia and Latin America, and since the reality is stark , the major powers and yet to be powers do their best egalitarian distribution rather than involving with market competition and ‘world wars’ the situation would be better worse than the past and rest.

 

 

 

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