Dialogue  January-March, 2011, Volume 12 No. 3

Book-Review

Economic Diplomacy of India in Terms of                         Transformation of the World Order

Reviewer : Surat M. Mirkasymov

The University of World Economy and Diplomacy of the Republic of Uzbekistan has published the monograph Economic Diplomacy of India in Terms of Transformation of the World Order. The author is Dr. Ibragim R. Mavlanov head of the Chair of this university. The monograph describes the key aspects of Indians external economic policy and diplomacy in terms of present transformation of world order.
        There are conceptual, methodological and practical aspects of formation and development of modern Indian economic diplomacy and its experiences in this field are at the centre of this monograph. The author highlights several reasons why economic diplomacy has attracted such great attention. Economic diplomacy, in his opinion, is comparatively a new scientific development in the area of international economic relations. Based on the international, political, economical, legal and other research works, economic diplomacy has become integral part of modern science and experience in the field of international economic relations, world economy and diplomacy.
        This monograph is one of the first attempts of complex and systematic scientific researches in Uzbekistan, explaining the economic diplomacy problems as a whole and particularly taking the example of comparative analysis of Indian experience with leading countries in terms of transformation of world order. It analyzes the main conceptual understandings of economic diplomacy and deep research, mainly emphasizing on known objects in the system of international economical relations – attraction of investments, development of trade, promotion of official aid to development, ensuring the economic security and national interests. It also explains the existing conceptions, models and practical aspects of bilateral, multilateral and regional economic diplomacy required to draft the foreign economic policy of government, exhibits their international economical relations and Indian approach in these directions. The author emphasizes that modern bilateral, multilateral and regional economic diplomacy and underlying concepts of promotion and protection of national economic interests on the world arena are generally accepted as integral part of practical implementation of foreign economic policy by most of the countries.
        The author in his book acknowledge the fact that diplomatic advantages of the governments, especially India, at international arena emerges from possibilities of bilateral, multilateral and regional economic diplomacy. Meanwhile he gives special emphasis on advantages of each diplomacy direction, analyzing the achievements, challenges and problems which they face in today’s modern world of transformation and globalization. The monograph also enumerates the facts that a favourable strong position at world arena is achieved as a result of cumulative positive factors of all kinds and models of economics diplomacy in various fields – trade development, attraction of investments, outsourcing of work etc. This conclusion can be derived from the Indian experience and that of other developed countries.
        The monograph consists of preface, introduction, five chapters, conclusion, list of pictures, tables and appendices.
        Chapter 1: “Concepts and methodology of modern economic diplomacy”. This chapter describes the tendency of development of modern international relations; transformation of world order in terms of globalization; development of main directions of modern diplomacy and the understanding of “economic diplomacy”. The abstract theoretical model of transformation of the world order is presented.
        Chapter 2: “Economic diplomacy in the system of public administration of Indian economy development”. This chapter describes the economic diplomacy in the models of social and economic development of India; place and role of economic diplomacy in modern foreign policy and experience of India; place and role of economic diplomacy in modern foreign policy and experience of India; institutionalization and legal regulation of economic diplomacy and approaches of India.
        Chapter 3: “Tasks of economic diplomacy to promote the competitive advantage at the world arena”. This chapter is dedicated to the questions of economic diplomacy in ensuring national interests and economic security; international trade diplomacy and export-import policy of India; development of world investments and investment diplomacy of India;
        Chapter 4: “Concepts and Models of Modern Economic Diplomacy” – analysis of modern concepts and models of bilateral, regional and multilateral economic diplomacy and experience of India, its approaches and initiatives.
        Chapter 5: “Modern economic diplomacy of India with the Central Asian countries, modern models of its regional economic diplomacy and development of its perspectives”. This chapter describes and highlights the geostrategic interests of India in the Central Asia, modern models of its economic diplomacy in the given region and future prospects of their development. The bipolar model of inter-regional cooperation of the Central and South Asia is discussed.
        The concluding part consists of resume of above mentioned research and analysis. Author underlines that modern economic diplomacy in terms of dynamic process in world economy and international economic relations has obtained dynamic and dedicated character, widened its arsenal of applicable methods. Bilateral, multilateral, regional and inter-regional models of economic diplomacy in terms of globalization and transformation of world order, close interaction, supplement and strengthen each other by forming new approaches for effective implementation of national interests.
        This kind of research and analysis, for the first time in our Republic, builds the fundamental base on scientific research for formation and development of modern economic diplomacy in the world, making use of vast experience of India and other developed countries. From scientific and theoretical point of view, the role of economic diplomacy in social and economic development of India and its foreign policies has been thoroughly studied. This work will be of immense help for development of Uzbek economic sciences. The author for the first time has offered the methodology of complex and continuous study of economic diplomacy as a component of the world economy, international economic relations, foreign economic policy and diplomacy. The all-round analysis of the concept <<Economic Diplomacy>> has been attempted. The author has tried the new concept.
        In connection with publication of this Monograph, I would like to share my thoughts based on my own experience as indologist and diplomat. This book reminds me of the historical period of modern India – beginning of the 1990, when the country was going through a rough phase of economic difficulties and the reserve bank had only a reserve of one billion US dollars. Then the newly elected Government headed by the then Prime Minister Mr. P.V. Narasimha Rao started implementation of the program for liberalization of Indian economy, advised by a small group of professional economists like. Dr. Manmohan Singh and couple of cabinet ministers like Mr Pranab Mukherjee and Mr. P Chidambaram. I would like to make a mention of an important fact that all the four organs of this process – Government and parliament on one side and Chamber of Business Houses and scholars from the other side together implemented necessary steps to achieve, in comparatively short span of time, the main goal – to make the country not only politically but also economically a global power.
        Today, after 20 years, we can say with confidence that India is one of the few states which has become economically strong amongst the fast developing countries and has also become an active member of G-20 group of industrial super powers and many other international and regional organizations.
        The present strong economy of India, with more than 400 billion reserve could provide facilities to achieve long lasting results in all fields namely science & technology, culture, sports, education, agriculture, medical etc. with the kind of growth, economic strength and very large professional human resource bank, we can expect to see India, in the near future, developing into a super power and a major global player.
        In conclusion, I would like to mention that the book by Dr. Mavlanov strongly confirms the very important historical fact that in the first half of XX century India was a good example of a colonial nation struggling for freedom and to establish a sovereign state, and now in the beginning of XXI century, the Indian model of effective and fast development has become a subject of intensive study for other nations.
        This publication could be of great interest for the scientists covering international relations, diplomats, specialists in the area of world economy and foreign economic activity, political analysts, teachers, postgraduate students and students.

 

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