India’s Growing Strategic Ties with West Asia
India’s shift from the “Look West” policy under Dr. Manmohan Singh to PM Modi’s “Link and ACT West” strategy has deepened ties with GCC nations, balancing energy security, defence cooperation, and relations with Iran, Israel, and Palestine.
PM Modi’s 2024 visit to Kuwait elevated relations to a strategic partnership, diversifying cooperation to defence, technology, healthcare, and energy while signing multiple MoUs, including counterterrorism commitments.
GCC nations, including Kuwait, contribute significantly to India’s energy needs (35% of oil, 70% of gas imports) and economic engagement, with bilateral trade with Kuwait alone reaching $10.75 billion in 2023-24.
India’s defence agreements with GCC countries mark a shift beyond traditional oil and trade relations, as GCC nations increasingly look towards Asia for strategic partnerships, fostering mutual growth and regional stability.
Read Ahead At:
Renewed Threat of ISIS and Global Lone-Wolf Attacks
A truck attack in New Orleans killed 15 and injured 30, followed by a Cybertruck explosion in Las Vegas. The attacker, Shamsud-Din Jabbar, an IS-inspired former military serviceman, was killed, and investigations revealed possible links between the two incidents.
Despite losing its Caliphate, IS continues to inspire global terror through propaganda, urging attacks during western celebrations. Similar tactics led to lone-wolf attacks worldwide in 2014-15, targeting cities from Orlando to Istanbul.
The group has shifted operations to Afghanistan and Africa while attempting to rebuild in Syria, looting weapons and exploiting conflicts. Kurdish fighters warn of IS preparing for a comeback amid Syria’s ongoing turmoil.
The U.S. must counter radicalisation within its borders and prevent IS from regaining a foothold in West Asia. A dual approach of military force and ideological countermeasures is essential to combat the evolving threat.
Read Ahead At:
Israel’s Stern Warning to Houthis Amid Escalating West Asia Conflict
Israeli Ambassador Danny Danon issued a strong warning at the UN, cautioning Yemen’s Iran-backed Houthi rebels against missile attacks on Israel, threatening severe retaliation akin to actions against Hamas and Hezbollah.
Despite the warning, Houthis launched missiles targeting Israel’s Ben Gurion Airport and a power station, intercepted by Israel’s defense systems. Houthi spokesperson Yahya Saree vowed continued attacks in solidarity with Palestinians in Gaza.
In response, Israel conducted airstrikes on Houthi infrastructure in Yemen, with Defense Minister Israel Katz pledging to target Houthi leaders and escalate military action if the attacks persist.
The conflict raises fears of broader regional instability and humanitarian crises, with international observers, including the UN, expressing concerns over the escalating violence and its implications for West Asia.
Read Ahead At:
UAE taxes, laws and charges coming into effect from January 2025
The UAE will implement new legislation aimed at addressing health care inequalities and enhancing environmental protection.
The government plans to rethink its tax strategies, suggesting possible changes to existing tax policies.
The forthcoming laws are expected to significantly affect the daily lives of both UAE citizens and residents.
The new measures underscore a commitment to improving healthcare access and promoting sustainability within the UAE.
Read Ahead At:
Syria FM in Saudi Arabia on maiden trip as new rulers reset regional ties
Syria's new Foreign Minister, Asaad al-Shaibani, made his inaugural overseas trip to Saudi Arabia, marking a significant diplomatic step after the ousting of Bashar al-Assad.
Al-Shaibani expressed hopes to establish a "new, bright page" in Syrian-Saudi relations, emphasizing the historical ties between the two nation.
The Syrian delegation included key officials, such as the Defence Minister and the Head of General Intelligence, highlighting the visit's importance for diplomatic and strategic collaboration.
Saudi officials indicated a commitment to support Syria’s political transition and discussed potential investments, reflecting Riyadh's interest in strengthening ties as Iran's influence wanes in the region.
Read Ahead At:
Benign food prices help Turkey’s disinflation path
Turkey's December inflation rate was reported at 1.0%, lower than expected, with annual inflation decreasing to 44.4% from 47.1% the previous month.
The food sector significantly contributed to the lower inflation, with unprocessed food inflation moderating, leading to a drop in fresh fruit and vegetable prices.
Core inflation showed improvement, with the monthly rate at 1.1%, the lowest since mid-2021, suggesting a positive underlying trend in inflation management.
Despite potential temporary increases in inflation due to government adjustments, disinflation is expected to continue, with forecasts indicating inflation may drop below 30% by the end of 2025.
Read Ahead At:
https://think.ing.com/snaps/turkey-disinflation-continues-with-benign-food-prices/
Deepanshi Pathak (BA IR, 3rd year) (Region Head)
Angel Chindalia (MA IR 2nd year)
Published by: Varsha Das (BA IR 3rd year)