the discussion under the title “the World economy after the pandemic COVID-19” the experts discussed what may change in the near future, particularly given the very rapidly changing international situation and the deterioration of relations between India and China.
As noted by a senior researcher, head of the program “Economy and economic growth,” ORF Mihir Swarup Sharma, first, for India, “the world after the pandemic” – yet distant future, because at the moment, a quarter of all cases of coronavirus in the world – the people of this country. But, according to experts, if to speak about prospects, given the difficulties in the political and geopolitical situation, new Delhi will find it difficult to establish relations with China in BRICS and other multilateral groups.
“We’ll have to do more to work in such institutions. But we in India are looking for a new group in Eurasia, which will help us to cope with recovery after COVID-19,” said Sharma.
As noted by researcher and head of environmental Initiatives for the transformation of the Center of the new economic policy ORF Annapurna Mitra, “we need a new political narrative and a new form of economic diplomacy.” In particular, it is necessary to “abandon the black-and-white principle in relation to corporations”, as they often do more than politicians. You should try to use their knowledge and skills. The same applies to the financial sector – she needs activities that promote the growth of new forms of assets, the expert believes.
Research fellow, Centre for Indian studies, Institute of Oriental studies Alexei Zakharov elaborated on the development of business relations between Russia and India. He noted that many Russian businessmen the wrong idea about India and the Indian market. These difficulties need to be solved. This increases the volume of trade between the two countries in rubles. It shows that two countries to circumvent sanctions and make transactions in national currencies.
“Several Russian companies are already operating successfully in India: this company associated with digital development, with rail transport. Importantly, the number of such companies has increased,” – said Zakharov.
researcher ORF Ritika Passi believes that “large international institutions such as the WTO and G20, today, lacks credibility”. Thus, according to her, the BRICS development Bank is a good alternative to organizations such as “strengthens the role of non-Western players in the global economy”. Given that countries are trying to increase its own internal capabilities, these factors can have a positive impact on the creation of new trade and economic ties between India and Russia. For example, we can talk about marine corridor Vladivostok-ThNNI, which has a great potential for bilateral relations and to diversify trading partnerships
According to the head of research of India from the Institute for emerging market studies SKOLKOVO Lidia Kulik, the official position of Russia is that countries such as India and Brazil joined the UN security Council and the UN continued to stand at the head of the international processes.
