• UGI USER
  • May 15, 2024
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U.S. LAWMAKERS TO INTRODUCE LEGISLATION FOR FORMAL INDIAN OCEAN STRATEGY

Why in the news?

  • Members of the U.S. House of Representatives’ Foreign Affairs Committee will introduce the Indian Ocean Region Strategic Review Act.
  • Sponsored by Joaquin Castro and Darrell Issa, it formalises a cohesive strategy for the Indian Ocean Region (IOR).
source:worldmap

Role of India in the IOR

  • SAGAR Vision: Guided by the vision of ‘SAGAR’ (Security and Growth for All in the Region).
  • Blue Economy Development: Implementing the ‘Sagarmala
  • Project’ for port-led development, utilising technology-driven modernization.
  • Economic Aspiration: Aims to become a $10 trillion economy by 2032, with the potential of the ‘Blue Economy’ contributing significantly.
About Indian Ocean Region:

  • Third largest water body globally, known as the “sea of stability.”
  • Crucial for international trade, transporting one-third of bulk cargo and two-thirds of oil shipments.
  • Abundant in oil, natural gas, and minerals, driving economic vibrancy.
  • India maintains longstanding trade and cultural ties with regional countries.

About United Nation States Agency For International Development (USAID):

  • Independent agency of the US government administering civilian foreign aid and development assistance.
  • Established by John F. Kennedy in 1961.
  • Aid authorised by US Congress.
  • Focus areas: Poverty reduction and democratic governance.

Associated Article:

https://universalinstitutions.com/indian-ocean-rim-association/#:~:text=IORA’s%20goal%20is%20to%20enhance,Government%2C%20Business%2C%20and%20Academia