India has long expressed interest in joining the Asia Pacific Economic Cooperation (APEC) forum, yet many APEC members have had concerns about India’s potential membership. However, in January 2015, the historic “U.S.-India Joint Strategic Vision for the Asia-Pacific and Indian Ocean Region” statement signed by President Barack Obama and Prime Minister Narendra Modi welcomed India’s interest, which other APEC economies—including China, Japan, and Russia—have acknowledged, thus underscoring the importance of the Indian economy to the region. During a period when the global economy is slowing and uncertainty in the Chinese economy may reduce growth in the Asia-Pacific region, India, the world’s fastest growing major economy, is well positioned to shore up global growth if it is better integrated into the region’s economic architecture.
With a new report, India’s Future in Asia: The APEC Opportunity, the Asia Society Policy Institute (ASPI) highlights the significant benefits that would accrue to India, APEC members, and the region as a result of India joining the forum. It also outlines the obstacles that stand in the way of Indian membership and the potential steps that India and APEC could take to address these impediments. Written by Harsha V. Singh, Senior Advisor to the ASPI initiative India and APEC: Charting a Path to Membership, and Anubhav Gupta, ASPI Senior Program Officer, the report provides key insights on what is at stake for India, APEC, and the region as India once again pursues APEC membership.
ASPI will be presenting the findings of this study on March 1 at the Indian Embassy in Washington, D.C. during a special discussion featuring Ambassador of India to the United States Arun Kumar Singh and ASPI President Kevin Rudd.
The full report and executive summary are available at www.AsiaSociety.org/policy-institute/IndiaAPEC.
Source: Asia Society
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