The completion of the Regional Comprehensive Economic Partnership (RCEP) has been delayed once again to 2019. Nevertheless, leaders at the recently concluded ASEAN Summit noted that negotiations have advanced to the final stage.The RCEP encompasses 25 percent global gross domestic product (GDP), 45 percent of the total population, 30 percent of global income and 30 percent global trade.
India’s rapid economic development is fuelling rising energy demand in the country. A recent report by financial holding company Nomura reveals that India’s gross domestic product (GDP) is expected to show a 7.7 percent growth in the first quarter of the year, exceeding projections stated in other similar reports.
The Association of Southeast Asian Nations (ASEAN) prides itself on its ability to stave off geopolitical advances by greater powers by vehemently holding on to the principle of centrality. The notion, as was once illustrated by noted Singaporean diplomat, Bilahari Kausikan, is a “fluid” concept.Kausikan makes it clear that centrality is a means for ASEAN states to better serve national interests as well as for great powers to achieve their goals and ambitions.
The main conclusion drawn from the visit by ASEAN leaders to India last week is that India is finally recognising ASEAN’s geostrategic potency and wants to capitalise on it. In doing so, India must play catch up with China.
The Southeast Asian region and India have civilisational, cultural and linguistical linkages stretching back almost two thousand years. Evidences of Indian influence still permeates the traditions, languages and architectural designs found in many member states of the Association of Southeast Asian Nations (ASEAN).In the 21st century, ties between India and this region have evolved in line with the current speed and vigour of globalisation.
MUMBAI – A debate about job creation and employment is heating up in India, fuelled by data that seem to show the country is entering a period of jobless growth. Official statistics suggest that overall labour-force participation declined between 2011 and 2015, with fewer than two million new jobs created annually.If those numbers were the whole story, then India, a country where 16 million people reach working age every year, would be heading for economic trouble.