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The IUP Journal of International Relations

Economic Sovereignty of India: A Realist Perspective

Article Details

Pub. Date	: Jan, 2022
Product Name	: The IUP Journal of International Relations
Product Type	: Article
Product Code	: IJIR030122
Author Name	:Jasjeev Singh Sahni, Zinnia Aurora and Keshav Chandra Tiwari
Availability	: YES
Subject/Domain	: Arts & Humanities
Download Format	: PDF Format
No. of Pages	: 20

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Abstract

The progression of post-independence Indian foreign and geoeconomic policy has been governed by diverse factors, owing to changes in political narratives and economic and structural transformations. This study explores the gravity of economic sovereignty-the determination of supremacy and capacity of the governing institutional apparatus based on economic decisions-in Indian foreign policymaking. It elucidates the theoretical precepts of economic sovereignty while juxtaposing it to the realist theory of international relations, devising an operational understanding by qualifying its constituent conditioning elements. It discerns India's strategic choices and orientation to realism, and finally analyzing the mainstream scholastic schools of Indian foreign policy and geoeconomic thought with respect to the operative comprehension of economic sovereignty. It is concluded that as the baton passed from one Indian geoeconomics school to the next, India has concertedly shifted from the realist and high economic sovereignty continuum to a refined geoeconomic policy of judicious trade and trade-offs.

Introduction

Economic interests and preferences are the foundations of power structures a nation-state aims to preface its actions by. In the Indian context, the nation structures its interests in diverse perspectives, providing a convoluted array of economic policy directions at an international level. The process is influenced by various variables ranging from poverty, unemployment, political interest making and other correlational beliefs and biases. However, continuity is observed, and a realist pursuit of economic independence has been molded with a cultivated cultural capitalization in the whole subcontinent. Premised on such independence stands the authority nation-state