Editorial: The sprouting of the ‘Look West’ Policy – (International relations)
• Narasimha Rao’s “Look East” Policy succeeded because South-East Asia began to “look West” to India, seeking a balancer to China. Mr. Modi’s “Look West” Policy will succeed because West Asia is “looking East” worried about the emerging strategic instability in its own neighbourhood and the structural shift in the global energy market.
- The joint statement, outlining closer government-to-government (G2G) relations, draws attention to the vibrant business-to-business (B2B) and people-to-people (P2P) relationships and commits the UAE to a sharp increase in its investment in India. What is striking to an observer of India-West Asia relations is the assertion of not just a “shared” past but of shared challenges in the present and a shared future.
- What is significant about the new strategic partnership outlined by the UAE and India is the fact that it is defined not just by India’s “Look West” policy, based on its energy and financial needs, but that it is equally defined by the GCC’s “Look East” policy, soliciting greater Indian engagement with West Asia.
SEBI to assess salary cost of asset management companies – (Economics)
Initiated a process of collecting details of salaries of mutual fund employees, especially top officials, to calculate the cost of funds of asset management companies.
The issue has brought to the notice of the regulator as many mutual funds, especially, foreign asset management companies were paying fancy salaries, which results in erosion of capital of these companies.
SEBI Chairman, U. K. Sinha had warned asset management companies on the cost of their funds.
Policy shift strengthens relations with the Gulf – (International Relations)
India has signed defence agreements with several countries in the region including Bahrain, Saudi Arabia, Qatar, and Oman. While they have had some counter-terror cooperation on exchanging information .
UAE fulfils all of the criteria mentioned , and one of India’s biggest economic partners, home to 2.6 million Indians and a crucial link to trade in the region.