AMONG THE PLETHORA of definitions of "economic diplomacy" in public domain, the most apt is probably the one that describes it as "the nexus between power and wealth in international affairs".
Since the devastating wars that drew in the whole world in the 20 Century and the evolution of multilateral fora like the League of Nations (after World War I) and the United Nations (after World War II) as platforms for dialogue among sovereign nations, diplomacy seemed a tool for averting armed combat.
The evolution of trade blocs, the most formidable among which is no doubt the European Union, toward the end of the century necessitated that the envoys of nations be adept at negotiating beneficial trade and investment treaties as well. As Norwegian diplomat Thoralf Stenvold, who has two decades of experience working within the United Nations and other multilateral organisations, writes in his contribution to the compilation, Economic Diplomacy-India's Ascendancy in the 21st Century, Indian Foreign Service (IFS) personnel have proved themselves to be deft and tough negotiators on multilateral platforms.
Stenvold's chapter is titled The Supremacy of the Indian Diplomat.
This story is from the September 07, 2024 edition of BW Businessworld.
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This story is from the September 07, 2024 edition of BW Businessworld.
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