Indian Ocean Region: New Economic Arteries
The oceans, as global highways of connectivity, have been the principal means for propagation of political, social, cultural, economic and military influence beyond continental masses since recorded history.
Much like the Pacific Rim which shaped the global economic trajectory for the two decades, the Indian Ocean has the potential to become the most important resource of new global growth over the next 20 years.
With the Indian Ocean channels carrying two-thirds of the world’s oil shipments, a third of the bulk cargo and half of all container traffic, the region’s strategic significance remains well established.
China’s rise has added another dimension where traditional power equations are now in flux. For India, which sits astride the Indian Ocean as its pre-eminent power, this is clearly an important phase in the evolution of its thinking on the region.