Raisina Dialogue 2024
- The Nordic and Baltic republics come together under the NB8 model for regional cooperation.
- It is made up of five Nordic nations:
- Norway, Sweden, Denmark, Finland, and Iceland.
Three states in the Baltics:
- Latvia, Lithuania, and Estonia.
- Due to the group’s geographical, historical, and cultural ties, cooperation is fostered in a variety of areas, including as politics, economics, trade, security, and culture.
- Northern European nations known as the Nordic region have comparable political structures, social structures, and cultural norms.
- The Baltic states are geographically and historically distinct, and they are located in northeastern Europe.
- When combined, the Nordic-Baltic economies’ GDP would be eligible for both the G-20 and the G-10.
- They are defenders of a multilateralist and international law-based world system.
Various connections with India:
The Nordic-Baltic collaboration with India encompasses domains including as:
Innovation:
- The transition to green
- Maritime
- Well-being
- Rights to intellectual property
- Innovative technology
- Cooperation in space and artificial intelligence
- Student exchange programmes
Tourism and culture.
- The amount of trade and investment between India and the NB8 is rising gradually.
- There are connections between the Indo-Pacific and the Nordic-Baltic regions’ security.
- NB8 acknowledges the growing significance of India in global affairs.
- Indian leadership exemplified by the G-20 president
- Growingly crucial for the prosperity and security of the world.
The consequences of the conflict with Ukraine:
- Russia is attempting to use illegal force to redraw boundaries and subjugate a democratic neighbour.
- The assault on fundamental principles of sovereignty and territorial integrity of all states, as well as international law.
- It is crucial to uphold the UN Charter’s tenets, which include holding offenders accountable for their actions.
- The war has an impact on supply chains, macrofinancial stability, growth, inflation, and worldwide food and energy security.
The Way Ahead:
- Forging a solid commitment to the multilateral system: NB8 seeks to foster greater communication and collaboration on the matters that are of utmost importance to India and its other international allies.
- The three areas of cooperation between NB8 and India are development and health, digitalization and the green transition, and peace and stability.
