India and Vietnam are expanding their strategic partnership from energy and trade to defense and space — and beyond.
Since the adoption of a new policy towards the United States, which led to the creation of a special New Delhi-Washington defense relationship, India has to address a crucial question: How to develop relations with countries that are part of the Shanghai Cooperation Organization (SCO), at the helm of which stand China and Russia. Much will be affected by the policy choices India makes. At stake is not only the strategic balance in Asia over the next decade but the evolving multipolar structure of the international system.
India's central bank kept interest rates on hold at 7.50 per cent on Tuesday, waiting for more clarity on inflation after heavy rains raised uncertainty about food prices and seeking to grant banks more time to reflect its previous rate cuts.