
During the first-ever business and commerce conference of the Indian Ocean Rim-Association for Regional Cooperation (IOR-ARC) in July, Indian Commerce Minister Anand Sharma called for an institutional mechanism to facilitate business interaction among members. Though the IOR-ARC has existed since 1995-1996, it has so far failed to emerge as a common economic platform, and India’s trade ties in the IOR region have progressed chiefly along bilateral lines. But with China’s economic overtures increasingly frequent and backed by commercial heft, India finds that it can no longer take its geo-economic position in the region for granted. To counter China’s commercial bilateralism, […]