India has expressed regret and said the situation in Ukraine is "in danger of spiraling into a major crisis”. India is in a tough spot, and these are reasons for the diplomatic dilemma.
FIRST, the West views this as condoning Russia’s actions and applying double standards while India raises the issue of “territorial integrity and sovereignty” when it comes to China.
SECOND, this is India’s diplomatic dilemma, which is because of India’s strategic ties with Russia and its dependence on Russia for military supplies — 60 to 70 percent of India’s military hardware is of Russian-origin
This is extremely crucial at a time when India has an ongoing border standoff with China.
Earlier this week, India had not condemned Russia’s statement of recognition of the two separatist regions of Donetsk and Luhansk.
India made a Singaporean company bleed $16 billion in a day because it had a Chinese connection
India recently banned 54 Chinese apps citing threats to its national security. Interestingly, the ban also set the stocks of a Singaporean company on fire. It was the first time that Beijing was not alone in facing the music, Singapore did feel the jolt too. Singaporean tech giant Sea group lost $16 billion in a single day. Sea’s New York stock plunged more than 18% overnight.
India shows the true power of Indian markets
You see, India’s position in the global tech market is quite unique and pivotal for emerging start-ups across Southeast Asia. China is no longer an attractive market for sprawling tech giants of the region, and now they are flocking to red-hot Indian markets for offsetting the losses. Take Free Fire for example. The Free Fire game was the highest-grossing mobile game in India in the third quarter of 2021.
The significance of the Indo-Pacific for India
An imminent early harvest trade deal with Australia and the sale of the Brahmos supersonic cruise missile systems to the Philippines lend a sharper edge to India’s engagement with the Indo-Pacific. A new emphasis on strategic trade liberalization and the turn to military exports should begin to plug two major weaknesses in India’s regional strategy. The two agreements should also widen the focus of India’s Indo-Pacific debate from the current obsession with the nature of India’s partnership with the US and its implications for Delhi’s “strategic autonomy”
The new Indo-Pacific Strategy document issued by the Biden administration last week admits that the US objectives of a “free and open, connected, prosperous, secure, and resilient” Indo-Pacific “cannot be accomplished” by the US acting alone. It insists that the “changing strategic circumstances and historic challenges require unprecedented cooperation with those who share in this vision.” This recognition is complemented by an appreciation of India’s capability — current and potential — in shaping strategic outcomes in the Indo-Pacific.
