Continuation of Part I -
Now comes the third stage of foreign policy, which is economic pragmatism. That is financial viability. Many crises befell India at that time, the first of which was that India openly made an agreement with the USSR. In the international arena India stood by the USSR, tarnishing its own impartial image. But the biggest shock was the disintegration of Soviet Russia. The collapse of the USSR tarnished India's image on the international stage, and in addition to this, India faced the financial crisis of 1991. Until 1990, our economy revolved around us. We didn't want the outside world to come in so much. In 1991, however, India found itself in a difficult economic situation. This meant that the foreign direct reserve was enough to allow India to continue its imports for only 3 weeks. India's economic bonds were depreciating. The World Bank and the International Monetary Fund also stopped funding.
After that, there was no other option but to mortgage the country's gold. India mortgaged 67 tonnes of gold and took an emergency loan of 2.2 billion dollars.Then in the Narasimha Rao government, Finance Minister Manmohan Singh introduced LPG reform. LPG is the Liberalization, Globalization, Privatization changes that opened up India's economy to outside companies, and that is what was most needed. And it is the reforms of '91 that laid the foundation for the economic prosperity we are experiencing today. And since then we have been able to implement this phase of economic viability in foreign policy.
Economic Pragmatism. Pragmatism is a practical application. That is, in simple words, financially national interest. There are many examples of this. But if we are talking so much about China and Pakistan, then for example, India's dispute with China has been going on since 1962. But economically, trade is also going on. Same with Pakistan, India continues to trade with Pakistan despite border disputes. This is the national interest by financial means.
After the fall of Soviet Russia, when India opened up its economy, efforts were made to keep maximum engagement with the USA. Similarly P. V. Narasimha Rao brought the 'look east policy'. Which greatly improved India's approach. Only then India resumed full dealings with Israel. We started the Indian Embassy there. And even today, Israel is India's partner in many places. Under the government of Prime Minister Atal Bihari Vajpayee, India emerged as a nuclear power in 1998, the Kargil War in 1999, India was successful.
But the important point is that even though these two events did not interest the USA, it did not make much difference to India, as India was at a great economic height after the reform of '91.
Let's come back to 2000 after such a long history. The current Minister of External Affairs, Dr. S. Jaishankar calls 2000 to 2013 the period of balancing power. In which India began to establish diplomatic relations with almost all countries. Although the United States has been angry over India's nuclear power for the past decade, in 2008 India and the United States signed a nuclear deal. The agreement that Vajpayee laid the foundation for was fulfilled by Manmohan Singh. Which greatly benefited India.
Along with the United States, agreements were also reached with China and Russia on trade and environment. During this period, India benefited a lot and became internationally recognized. 2014, however, was a time of great upheaval internationally. China has expanded its economy and entered the international market. Events like Brexit in Europe caused those countries to forget globalization and return to self-centeredness. There was skepticism about the decision to be taken by the US government.
But even so, India came to the international stage with full energy and strength. We once again changed the policy of India and started focusing on issue based arrangements. This does not mean that we should support or oppose the whole country, but rather focus on that issue. And according to Dr. S. Jaishankar, India needs to come up with a similar policy.
So far, India's glorious foreign policy has raised the country's profile. Let's look at some of his data, Today, India is the third largest military spender in the world, the fourth largest armed force, the sixth largest economy in terms of GDP and the third largest in terms of purchasing power parity. India is a major regional power today. The country which once exported only 59 million USD, today exports 35,430 million USD. India became the chairperson of the executive board of the World Health Organization in June 2021, and the chair of the United Nations Security Council in August.
Even during the Corona period, we followed the Vasudhaiva Kutumbakam principle. And exported 8.5 crore hydroxychloroquine, 50 crore paracetamol and many similar medicines to more than 100 countries. In the case of covid vaccine too, India has really set a benchmark in front of other countries. India supplies 66.4 million vaccines to 95 countries. And we all saw India's honor at that time. In the 2nd wave, when India needed help, all the political issues aside, 52 countries extended a helping hand to India. It is this strong foreign policy that has given India over 27,000 oxygen cylinders, over 29,000 O2 concentrators, over 19,000 ventilators, and billions of rupees worth of other medical supplies.
The quad was set up by India, United States, Japan and Australia to respond decisively to China's expansionist policies, which curbed maritime expansion. At the international level, all countries today stand firmly behind India in the fight against terrorism. This is due to our strong foreign policy. In the 2021-22 elections for the temporary membership of the United Nations Security Council, 184 out of 192 countries, or 96%, voted for India, and today India is a part of the Security Council. India is also the main contender for the permanent seat in the same Security Council. All this is possible because of our strong foreign policy.
Today, India is dreaming of becoming a superpower through mutual help. And if this Ashwamedha Yajna of victory continues, surely this dream will not take long to come true.
Jai Hind!
- Aditya More
References-
Ministry of External Affairs- https://www.mea.gov.in/
Drishti IAS- https://www.drishtiias.com/daily-updates/daily-news-editorials/indian-foreign-policy-in-2021
The shifting trajectory of India’s foreign policy- The Hindu
India's Foreign Policy Shift: From NAM to "Strategic Partnership" with the US- Indian Foreign Affairs Journal Vol. 3, No. 1 (January-March, 2008), pp. 56-67-https://www.jstor.org/stable/45340711
A tale of two visits and a shift in Indian foreign policy- Hindustan Times
Introduction: Narendra Modi and India’s foreign policy- Ian Hall & Šumit Ganguly.
https://link.springer.com/article/10.1057/s41311-021-00363-8
Changing dynamics of India's foreign policy- By: Amb (Retd) Debnath Shaw.
https://www.mea.gov.in/distinguished-lectures-detail.htm?843
Continuity and change in India's Foreign Policy- By: Amb. (Retd.) Jitendra Nath Misra.
https://mea.gov.in/distinguished-lectures-detail.htm?615
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