Insights

The concept of blue economy has gained significance in the recent years. The sustainable development goal (SDG) 14 of the United Nations lays emphasis on sustainable use of ocean, seas and marine resources. Countries in the Indian Ocean region have also recognized the potential and significance of oceans, coastal and marine resources. This resulted in the signing of the Jakarta Declaration on Blue Economy in 2017. However, there are challenges such as natural disasters, climate change, pollution, acidification, overfishing, and plastic waste. An open and collaborative approach is required by conservationists, general public, coastal communities, governments and businesses to safeguard, create, and ensure sustainable marine and coastal ecosystems as well as livelihoods. It is important for all stakeholders to have an understanding of the ultimate objectives of the priority sectors. 

India is considered a bright spot in the global economy, though economists differ on measures required to maintain this status. While the government's initiatives such as Smart city, Make in India, Digital India, and Startup India along with reforms are likely to have a positive impact on the economy, the key is to harness the untapped potential of rural areas and Tier II and Tier III towns. It's time to transform villages and small towns as sustainable model villages and towns through a combination of several initiatives such as creating handicrafts corridors across the country or introducing Make in rural India . Handicrafts and cottage industry corridors can not only help revive many such industries facing risk of extinction, but also help counter dumping of cheaper products by other countries.  We need not need more schemes and programmes. The central government or state governments can customize existing schemes for towns and rural areas such as  Swaach gram progra...

India stands at crossroads on the 63rd Republic Day. The young demographic profile and buoyant economy provide opportunities for further growth. At the same time, there are challenges in the form of poverty, malnutrition, corruption and over-crowded cities. Two decades after the economic reforms, India stands chance of another transformation. The immense potential of the North-eastern states remains untapped. Tourism, promotion of handicrafts, tapping the hydropower potential, and improvement in surface, rail and air transport can help propel the development of the North-eastern region. The public health infrastructure needs an overhaul. Basic amenities remain a distant reality for most of the households of rural India. Better infrastructure could open opportunities to transform rural India into sustainable development zones. 2-tier and 3-tier cities can propel India's economic growth. Proper town and city planning is crucial to facilitate development while retaining the peace an...

The ongoing political reforms in Myanmar augur well for the region, Asia and world at large. Political stability and economic prosperity is crucial for Myanmar to play its deserving role in the region. Although there are challenges in the way, there are opportunities to leverage rich cultural heritage and nature's treasures. It's time to tap the hidden tourism potential of Myanmar, the Golden land, which could not only attract foreign visitors, but also help in the economic development of the local communities. Tourism is now playing a vital role in the development of economies worldwide. Tourism and hospitality sector complement each other and create job opportunities. Myanmar's tourism destinations include a unique mix of ancient and awe-inspiring temples, mosques, sea-side lakes, colonial architectures, Buddhist shrines, Pagodas, mountain streams, ruined and ancient cities, precious species and mammals. One can have a glimpse of unique rowing styles, artistic lacquerwa...

Will the division of a large state to several smaller states enable better administration or development of regions in question? Perhaps, the solution lies in decentralization of administrative functions, rather than the division of a state. But decentralization in itself would not deliver the desired results. Equitable and balanced regional development could be achieved through the combination of DGPP - Decentralization, Good Governance, and Public Private Partnerships. A small administrative region could be a handicap if the same is not backed by good governance or is characterized with political instability. Good governance is crucial for removing the bottlenecks in development and ensuring planned development of villages, towns and cities in the respective regions. Again, decentralization should be complemented with Public Private Partnerships at the district level to achieve the desired development goals, address employment issues, improve surface transport facilities, deliver ...

The Prime Minister has urged for a Comprehensive Economic Cooperation Agreement (CECA) with the Association of South-East Asian Nations (ASEAN), the association, which is growing in significance with every passing year. The growing political and economic significance of the region was evident with the active participation of the United States (U.S). Greater diplomatic engagement and enhancing trade ties with ASEAN holds high significance for India, which has began to walk the talk on its Look East Policy. At the same time, the 10 countries of the region, would continue to enhance their cooperation with China, Japan and South Korea within the ASEAN Plus Three Framework. In recent times, U.S and European countries have been more proactive in their engagement with the South-East Asian countries. As such, in the emerging global scenario, India needs to continue to strengthen the South Asian Association of Regional Cooperation (SAARC).  For a change, the recent SAARC...

The global human population has crossed the 7 Billion mark today. Significantly, it has taken just over 2 centuries for the global community to grow 7 times of their size from around 1 billion at the beginning of the 19th century to over 7 billion in 2011, and we may well double ourselves over the next century. We at India are inching closer to the 18% of the total world population. While the human population has made remarkable strides, poverty, malnutrition, high infant death rates still plague considerable members of the population. Many countries are dealing with internal discord and external strife. Terrorism and war between nation states have considerable impact on the lives of the people for decades and generations to come. Wars have considerable impact on the economies of all countries involved. Several countries may not reach the desired United Nation's Millennium Development Goals by 2015. Ensuring proper healthcare facilities remains a challenge. The damage caused to t...

Thomas J. Sargent and Christopher A. Sims share this year's Sveriges Riksbank Prize in Economic Sciences. Unlike other Nobel Prizes, the Prize for contributions in the field of economic sciences was established by Sveriges Riksbank, the Central Bank of Sweden in memory of Alfred Nobel. The duo are known for incorporating people's expectations in  empirical research. If we see in hindsight, and recent developments, people's expectations matter a lot, and play a crucial part in policy making of the Central Banks. The award would certainly encourage further interest in empirical research worldwide. Watch and hear the Nobel Laureates speak on the Princeton University Website.

Lack of balanced regional development is one of the major reasons for inter-state or regional disputes, and demand for creation of new states. The development model could be designed based on the geographic, socioeconomic and ethnic environment of a particular region. For instance, promotion of handicrafts, handlooms and tourism industry may help in the development of areas with considerable tribal population. Eco-friendly power generation projects could help in the development of the hilly region, without causing environmental damage. Innovative schemes such as agri-tourism projects may aid in the development of  major food producing destinations. Many countries across the world such as Italy, Philippines and Australia, among others are promoting agri-tourism. One such scheme is being implemented in the state of Maharashtra in India. However, the success of such scheme depends on proper planning and creation of awareness among farmers and visitors. Delays in the completion of pr...

India is fourth largest economy in the world and is poised to overtake Japan in the near future. However,  the benefits of developments has not reached every Indian. Indian economy has performed well even during the periods of recession over the last decade. The world is facing a similar scenario again. Therefore, it is imperative for the government to strengthen the fundamentals of the Indian economy. The country has a federal system of governance, but we still face problems in implementation of welfare schemes and development programs. Issues and disputes remain unresolved for years and decades. The time has come to leverage the federal structure and make efficient use of the Panchayats, municipal bodies and district administration to implement welfare programs, and introduce new development schemes at the village and district level. State governments can create a district development model. To begin with, they can develop a pilot scheme for the development of each village or t...

India has made significant progress over the last two decades. The demographic dividend is also playing a crucial role in its growth and development. The stage is now set for a more proactive role in the global economy. As such, it is imperative for India to make best use of its human capital and skill sets in an era, where knowledge is increasingly being considered as the differentiating factor in providing competitive advantage to the economies.  India's growth in the recent years has been primarily driven by the service economy, wherein major cities have played a vital role. However, the growth has also resulted in overcrowding of cities. India's future success story and advancement depends to a large extent on the growth of the small towns and cities, which have tremendous scope for infrastructural development. The youth in these small towns and cities have a lot of hidden potential, which needs to be leveraged. They have the potential to become future managers, ent...