How Indian Ocean may play a lead role in world affairs in the future

There is also a strong economic and political logic to spotlighting the Indian Ocean as a key emerging region in world affairs.

In recent days, Australia’s foreign minister Marise Payne announced efforts to strengthen Australia’s involvement in the Indian Ocean region, and the importance of working with India in defence and other activities. Speaking at the Raisina Dialogue in Delhi – a geopolitical conference co-hosted by the Indian government – Payne said:

Our respective futures are intertwined and heavily dependent on how well we cooperate on the challenges and opportunities in the Indian Ocean in the decades ahead.

Among Payne’s announcements was A$25 million for a four-year infrastructure program in South Asia (The South Asia Regional Infrastructure Connectivity initiative, or SARIC), which will primarily focus on the transport and energy sectors.

She also pointed to increasing defence activities in the Indian Ocean, noting that in 2014, Australia and India had conducted 11 defence activities together, with the figure reaching 38 in 2018.(Business Standard)

Payne’s speech highlights the emergent power of the Indian Ocean region in world affairs. The region comprises the ocean itself and the countries that border it. These include Australia, India, Indonesia, Bangladesh, Madagascar, Somalia, Tanzania, South Africa, the United Arab Emirates and Yemen.

In terms of global political significance, the Atlantic Ocean can be viewed as the ocean of our grandparents and parents; the Pacific Ocean as the ocean of us and our children; and the Indian Ocean as the ocean of our children and grandchildren.

There is an obvious sense in which the region is the future. The average age of people in the region’s countries is under 30, compared to 38 in the US and 46 in Japan. The countries bordering the Indian Ocean are home to 2.5 billion people, which is one-third of the world’s population.

But there is also a strong economic and political logic to spotlighting the Indian Ocean as a key emerging region in world affairs and strategic priority for Australia.

Some 80% of the world’s maritime oil trade flows through three narrow passages of water, known as choke points, in the Indian Ocean. This includes the Strait of Hormuz – located between the Persian Gulf and the Gulf of Oman – which provides the only sea passage from the Persian Gulf to the open ocean.

The economies of many Indian Ocean countries are expanding rapidly as investors seek new opportunities. Bangladesh, India, Malaysia and Tanzania witnessed economic growth in excess of 5% in 2017 – well above the global average of 3.2%.

India is the fastest growing major economy in the world. With a population expected to become the world’s largest in the coming decades, it is also the one with the most potential.