EDITORIAL

India obvious candidate for UNSC permanent seat

Written by IWP

India is an “obvious candidate” for a seat in the UN Security Council (UNSC) and the friendly States would do its utmost towards finalising an EU-India free trade agreement (FTA) with Holland is providing the perfect pivot for India to expand its trade relationship with Europe.

In the face of the current wave of geo-political instability, especially in the Middle East and the protectionist moves of the US, it is important to make efforts to strengthen both multilateral trade and UN institutions and that India can deliver its responsibility.

Despite it is world famous democracy, India should be an obvious candidate for a permanent seat in the UNSC…it is surprising that India isn’t a member in this day and age.

A Broad-based Trade and Investment Agreement (BTIA) between the European Union (EU) and India is long overdue. The world statesmen who wish India to be a member country to promote world Economic progress, should make a personal investment in the EU-India relationship and try their best to revive the talks, as both India and EU are missing out on a lot of opportunities here.

Negotiations for the BTIA, or a free trade agreement, started in 2007 but were put on hold in 2015. In all, 16 rounds of negotiations have been held. The west should have a particular interest in this issue, because bigger per centage of Indian exports to the EU. This role of a European hubs has been bolstered by Brexit.

The improvements in ease of doing business have been welcomed by States like Dutch businesses. At the same time, business advocates them that it is still difficult to set up branches of their companies in the (Indian) states, due to massive corruption.

Red tape can be quite cumbersome, and the EU believes there is some room for improvement. The countries agreed to boost bilateral trade and investment and strengthen cooperation across multiple sectors, including agriculture and food processing, water management and science and technology.

This is despite undreds of EU countries incliding Dutch companies have been operating in India for many years now. The situation in the region and India emphasinsing informal summits where the unofficial agenda was to discuss the situation arising out of the US withdrawal from the Iran nuclear deal.

There is an arc of instability and unpredictability…a war is on in Syria and there is the unpredictability of the new American administration.

In this situation it is important to be well embedded in the multilateral institutions like the WTO (World Trade Organisation, the UN and the EU..we need all these. Only bilateral agreements will make the world more unstable. The Iran nuclear agreement is a “perfect deal” but that is important to keep alive for some more time

The EU, Russia and Turkey should work to keep the Iran nuclear agreement going after the US withdrawal. And world does criticise for American showing their back to Iran nuclear agreement.

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IWP

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