India supports free, open, rules-based Indo-Pacific at first edition of CII Summit

The Indo-pacific business summit organized by CII saw sessions on how India and other nations in the Indo-Pacific region can expand their economic partnership and can also collaborate for future economic development.

Created On: Jul 8, 2021 16:45 IST
Indo-Pacific Business Summit
Indo-Pacific Business Summit

The Ministry of External Affairs Secretary (East), Riva Ganguly Das on July 6, 2021, addressed the Special Session of the 1st edition of the Indo-Pacific Business Summit. It was organized by the Confederation of Indian Industry (CII) in collaboration with the Ministry of External Affairs.

The summit which was held from July 6 to 8, over a virtual platform saw the participation of enterprises, governments, think tanks, business chambers, and academia from the countries in the region.

The Spokesperson of MEA Arindam Bagchi tweeted ‘Speaking about promoting trade facilitation in the Indo-Pacific through improved cross-border linkages and trade infrastructure, Secretary (East) underlined the importance of open, free, inclusive, and rules-based Indo-Pacific in facilitating trade and connectivity in the region.'

Significance:

The Indo-pacific business summit organized by CII saw sessions on how India and other nations in the Indo-Pacific region can expand their economic partnership and can also collaborate for future economic development.

Key Highlights:

Secretary (East) Riva Ganguly, during the summit, highlighted the initiatives taken by India which include building the cross-border linkages and infrastructure, Supply Chain Resilience Initiative (SCRI), promoting digital connectivity, and Indo-Pacific Oceans Initiative (IPOI).

•  The summit saw the rich participation from the Ambassadors and High Commissioners of different countries across the Indo-Pacific. It is the region that spans from the east coast of Africa to the Pacific Island States.

Indo-Pacific region and China’s growing influence:

The idea of the Indo-Pacific as a single strategic space is an outgrowth of the growing influence of China in the Indian Ocean Region. It further signified the interconnectedness of the Indian and the pacific ocean and the importance of the oceans to commerce and security.

To counter China’s growing influence in the Indo-pacific region, the first summit of the leaders of Quad was also hosted by the US on a virtual platform in March 2021.

The quad grouping includes India, Japan, the US, and Australia. It aims at safeguarding the interests of democratic nations in the Indo-pacific region and addressing global challenges.

 

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एग्जाम की तैयारी के लिए ऐप पर वीकली टेस्ट लें और दूसरों के साथ प्रतिस्पर्धा करें। डाउनलोड करें करेंट अफेयर्स ऐप

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