India Australia Strengthening International Cooperation Through The Indo Pacific Oceans Initiative

The book ‘India and Australia: Strengthening International Cooperation Through The Indo-Pacific Oceans Initiative’ is a compilation of research papers written by scholars from India, ASEAN countries, and Australia on strengthening international cooperation in the Indo-Pacific. The book is divided into three parts, based on the three key sessions of the Australia-India Indo-Pacific Oceans Initiative Partnership (AIIPOIP) Conference held in Kochi, in April 2022. The three themes of discussion include maritime security, tackling the issue of marine debris and litter in the Bay of Bengal, and the importance of smart ports.

India announced its Indo-Pacific Oceans Initiative (IPOI) in November 2019 at the East Asia Summit. In the same year, ASEAN came up with the ASEAN Outlook on the Indo-Pacific (AOIP). Similar Indo-Pacific strategies were promoted by Japan, Australia and US during the period. These strategies underlined the importance of partnerships for establishing a rule-based order in the Indo-Pacific region. In the context of rising China, the geopolitical strategies of ASEAN, India and Australia gain significance for fostering and promoting peace and security in the region. The Centre for Public Policy Research (CPPR), Kochi, India and Monash University, Melbourne, Australia decided to come together to pool their academic and policy research capacities to build a robust research agenda on the Indo-Pacific. In March 2022, CPPR and Monash University hosted ‘Dialogue on Indo-Pacific Oceans Initiative (IPOI): Strengthening International Cooperation’ in a hybrid (physical-digital) format. Scholars from ASEAN, Australia, India and Japan were invited to discuss the various pillars of the IPOI and accelerated long-term growth in the Indo-Pacific region. The Dialogue was supported by the Department of Foreign Trade (DFAT), Government of Australia. One of the important sessions in the Dialogue was ‘IPOI Scholars Connect’ in which scholars from ASEAN countries and India shared their perspectives on the IPOI in the context of ASEAN, India and Australia. This digital volume is a compilation of papers presented by these scholars that discuss the existing geopolitical strategies of India and ASEAN and evaluate them from different perspectives. Contemporary issues like marine plastic pollution, maritime connectivity and smart ports are also discussed. It is hoped that the volume will add to exciting scholarship on the subject and trigger policies that contribute to peace, stability and development in the Indo-Pacific region.

In the twenty-first century, the Indo-Pacific, which spans from the western Pacific Ocean to the western Indian Ocean along the eastern coast of Africa, has emerged as a crucial geostrategic region for trade, investment, energy supplies, cooperation, and competition. It presents complex maritime security challenges and interlocking economic interests that require the development of an overarching multilateral security framework. This volume develops common approaches by focusing on geopolitical challenges, transnational security concerns, and multilateral institution-building and cooperation. The chapters, written by a cross-section of practitioners, diplomats, policymakers, and scholars from the three major powers discussed (United States, China, India) explain the opportunities and risks in the Indo-Pacific region and identify specific naval measures needed to enhance maritime security in the region. Maritime Security in the Indo-Pacific opens by introducing the Indo-Pacific and outlining the roles of China, India, and the United States in various maritime issues in the region. It then focuses on the security challenges presented by maritime disputes, naval engagement, legal issues, sea lanes of communication, energy transport, humanitarian assistance and disaster relief, as well as by nontraditional threats, such as piracy, terrorism, and weapons proliferation. It compares and contrasts the roles and perspectives of the key maritime powers, analyzing the need for multilateral cooperation to overcome the traditional and nontraditional challenges and security dilemma. This shows that, in spite of their different interests, capabilities, and priorities, Washington, Beijing and New Delhi can and do engage in cooperation to deal with transnational security challenges. Lastly, the book describes how to promote maritime cooperation by establishing or strengthening multilateral mechanisms and measures that would reduce the prospects for conflict in the Indo-Pacific region.

In the field of finance, the pervasive influence of algorithms has transformed the very fabric of the industry. Today, over 75% of trades are orchestrated by algorithms, making them the linchpin for trade automation, predictions, and decision-making. This algorithmic reliance, while propelling financial services into unprecedented efficiency, has also ushered in a host of challenges. As the financial sector becomes increasingly algorithm-driven, concerns about risk assessment, market manipulation, and the ethical implications of automated decision-making have taken center stage. Artificial Intelligence and Machine Learning-Powered Smart Finance, meticulously examines the intersection of computational finance and advanced algorithms and the challenges associated with this technology. As algorithms permeate various facets of financial services, the book takes a deep dive into their applications, spanning forecasting, portfolio optimization, market trends analysis, and cryptoanalysis. It sheds light on the role of AI-based algorithms in personnel selection, implementing trusted financial services, developing recommendation systems for financial platforms, and detecting fraud, presenting a compelling case for the integration of innovative solutions in the financial sector. As the book unravels the intricate tapestry of algorithmic applications in finance, it also illuminates the ethical considerations and governance frameworks essential for navigating the delicate balance between technological innovation and responsible financial practices.

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In the context of intensifying nationalism and protectionism and a reconfiguration of the global value chains, the world’s leading economies find themselves confronted with significant challenges. To address these issues, this book builds on conceptual and empirical analysis and makes a case for interdisciplinary research that connects International Business (IB) and International Security (IS) domains. Employing the concept of geostrategy and using multi-level approaches to explain the interaction among various players in IB and IS, the authors examine the implications that IB and IS disciplines provide to each other. This book is a valuable resource for students and researchers interested in international business, international relations, international security, and international political economy and answers the growing call for an interdisciplinary research approach to promoting critical thinking in the rapidly evolving international business and security environment.