In a rapidly changing geopolitical landscape and a post-pandemic world, the relationship between India and Southeast Asian countries has gained immense importance. To shed light on this significant dynamic, a thought-provoking book,
Evaluating Trade and Economic Relations Between India and Southeast Asia (ISBN: 9781799857747) published by IGI Global, delves into the driving force behind its creation, the specific problems it addresses, the solutions it provides, and its potential impact on the field of study. In a captivating Q&A session with Prof. Medhekar, the editor of the book, we explore the motivations, challenges, and transformative potential encapsulated within its pages. From the evolution of India's Act East Policy to the exploration of opportunities and recommendations for enhanced regional connectivity, trade, and collaboration, this discussion unveils the remarkable insights that this book offers to shape the future of India-Southeast Asia relations.
What was the driving force or motivation for starting this book?
Prof. Medhekar: Historically, Southeast Asian countries have close ties with India. In the 21st century, India has emerged as a fifth largest economy in terms of GDP (purchasing power parity) in the world, with second largest population and market following China. The motivation for starting the book project was the Modi BJP-Government in November 2014 at East Asia Summit in Myanmar announced the extension of “Look East Policy” (LEP) to “Act East Policy” (AEP) with the signing of ASEAN Trade-in-Services and Investment, and closer economic and security ties based on four pillars of cooperation- culture, connectivity, commerce, and capacity building. The revamped AEP was to be proactive and engaging to promote cultural ties, economic cooperation and integration, along with strategic relationship to establish bilateral and multilateral agreements at regional level with South-East Asian countries and beyond to Japan, South Korea and Australia in the Indo-Pacific to form strategic partnership for economic, political, defence-security of land and sea corridors and social-cultural cooperation to reap potential mutual economic benefits.
What specific problems does the book addresses?
Prof. Medhekar: The book addresses the Act East Policy, the opportunities and challenges to sustain the relationship of India with Southeast Asian countries, given the changing geopolitical and post-pandemic environment. Besides the chapters in the book also explore issues related to food security, forming partnerships to tackle global health emergencies and climate change challenges, trade, investment and tourism opportunities, and strategies to promote peace and security in the Bay-of-Bengal and the Indian Ocean region, which is important for mutual economic growth and development.
How does the book provide a solution to these problems?
Prof. Medhekar: The various chapters provide opportunities and recommendations with policy impact for both India and Southeast Asian nations to emphasize the importance of better regional connectivity for economic development, investment opportunities, disaster management and technological transfer, tourism and trade. Furthermore, this book intends to explore whether the win-win strategy works for strengthening of these countries in terms of both economic and trade relations and political integrity or not, with a view to face the challenging geopolitical situation, in the Indo-Pacific region across their international boundaries post-covid.
What do you think this book changes this field of study?
Prof. Medhekar: Since the pandemic in 2020, India has played a leading role in producing the largest quantities of COVID-19 vaccine and forming alliance to donate vaccines to neighbouring countries, and the strategic QUAD alliance with Australia, USA, and Japan. Post pandemic India is going to drive the global growth having the largest (65%) youth population in the world with access to its markets due to appropriate monetary and macroeconomic policy responses, sound export performance, and robust domestic demand. Indian Government’s AEP policy is based on four pillars of cooperation- culture, connectivity, commerce, and capacity building. The current BJP government has taken steps to further establish and develop bi-lateral strategic partnership with Singapore, Australia, Indonesia, Japan, Malaysia, Korea, and Vietnam. The Indian government has signed various multi-lateral partnerships for trade, capacity building, connectivity and economic development opportunities such as ASEAN -Regional Forum, East- Asia Summit, Asia Cooperation Dialogue (ACD), Mekong Ganga Cooperation (MGC). With the changing geopolitical environment, to curb the increasing strategic influence and rise of China in South-Asia and South-East Asia cooperative agreements are made with the Indian Ocean Rim Association (IORA), India-Pacific Island Cooperation (FIPIC), Bangladesh, Bhutan, and India (BBIN); South Asian Free-Trade Agreement (SAFTA), and Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC).
How unique is this book within its topic coverage?
Prof. Medhekar: The primary objective of this book is to provide insight on the trade, investment, tourism, future export potential, regional food security, climate change challenges, pharmaceutical and health sector security and collaboration, technical and economic linkages, cooperation and to enhance future relationships between India and Southeast Asian countries. Association of Southeast Asian Nations (ASEAN) are the second largest trading partner of India since 2018, with a strong potential opportunity for access to markets, economic cooperation, and partnerships to achieve the United Nation’s Sustainable Development Goals. Further, challenges and opportunities from bilateral and multilateral trade agreements -Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) and Look-East-to Act-East policy is examined to strengthen economic relationships in terms of business, trade, Investment and commerce relations between India and ASEAN post-pandemic and in the changing geo-political environment to promote regional unity, cooperation, peace and security for mutual economic progress and growth.
How diverse were the experts behind the research that went into this book or which regions involved?
Prof. Medhekar: The experts who contributed chapters to this book came from different countries: Australia, Bangladesh, India, Indonesia, Pakistan, Thailand, Turkey and United Arab Emirates. The book provides a rich contribution of chapters based in social science disciplines exploring opportunities and challenges for strategic relationship between India and Southeast Asian nations, related to economics of international trade, regional grouping and trading block, regional development, bilateral multilateral trade agreements, food and bio-security, human resources management, economics of health, economics of tourism development, and foreign direct investment. All the editors and chapter contributors are professional academics and experts in the discipline of social sciences with extensive teaching and research experience in the field.
About the Editor
Prof.
Anita Medhekar is a senior lecturer in economics and holds a PhD from Deakin University, Australia. She has completed her double Masters in pure Economics as well as in Education. She has taught at undergraduate and post graduate levels in India, Indonesia, and Australia and has nearly 30 years of teaching experience. Currently, she is teaching at Central Queensland University, Rockhampton, Australia. Her research interests are in applied Micro and Macroeconomics, International Trade, Development Economics, Asia-Pacific Economies, Health Economics, Public Finance, Asia-Pacific Economies, South-Asia, Australian Economy, Tourism Economics, Bilateral Trade and Development for Peace, Public Policy, and Public-Private Partnerships. She has presented papers at numerous international conferences and received best research paper wards. She has numerous refereed publications in journals, conference proceedings, edited books, and book chapters to her credit.
About IGI Global
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