Background Paper No. 33
By Anit Mukherjee and Caroline Arkalji
The arc of ascent of China’s financial system
By Udaibir Das
China must build on its institutional progress and the policy suggestions noted in the 2025 FSSA while adapting to a more fragmented global financial landscape. The shift from insulation, as pointed out by the IMF in 2010, as well as the shift to sensible integration, as outlined by the IMF in 2025, stays unfinished.
A Blueprint to Advance the U.S.-India Energy Security Partnership
This special report explores the opportunities of a U.S.-India Strategic Energy and Industrial Partnership.
Special Report
By Aditya Ramji
China’s Critical Mineral Export Controls: Background & Chokepoints
Capital crunch stifles entrepreneurs in low-income economies
By Udaibir Das
As concessional finance declines, vulnerabilities mount and aid priorities shift, vulnerable low-income countries must increasingly rely on domestic sources of funding. Efficient capital markets are not a luxury – they are foundational infrastructure for economic growth.
The Road Ahead for U.S. Policy on Artificial Intelligence
Navigating the Entanglements in the U.S.-China Quantum Technology Race
By Linda Nhon and Andreas Kuehn
Trump 2.0’s overall policy directions in critical and emerging technologies will likely hew to common expectations. The details, however, of what technologies the new administration will prioritise and how actions, such as tariffs and export controls for example, will affect the United States’ (US) innovation and technology leadership remains underexplored.
India’s uneven quest to master technology
By Dhruva Jaishankar
Learnings from Delhi’s past should help in shaping the future as India bets big on new critical technologies.
What happens when global donors shy away from aid
By Udaibir Das
The key question is not whether the decline in aid and external assistance will push these economies towards more debt – it already does – but rather what kind of debt they will incur and what long-term implications it will bring.
Why New Delhi and Brussels must reset bilateral ties
By Dhruva Jaishankar
The EU and India both have apprehensions about China’s economic and manufacturing supremacy threatening employment and businesses at home.
Foundation for layered India-America relations
By Dhruva Jaishankar
Trump and Modi announced a wide-ranging agenda to take the bilateral relationship forward. It included efforts that built upon the progress made during the Biden administration, particularly in terms of technology, defense, and regional cooperation.
Germany and the Indo-Pacific
By Dhruva Jaishankar
Understandably, Germany will be preoccupied in the short term with Europe’s eastern and southern flanks, the transatlantic relationship, and the Middle East, but Berlin has important economic and security interests in the Indo-Pacific.
New AI models risk economic amnesia
By Udaibir Das
As AI takes on a greater role in economic analysis and policy, an unsettling question arises: will its ability to recognise systemic risks with historical precedents weaken with a lack of immediate algorithmic reference?
From Galápagos to Global: Leveraging Debt-For-Nature Swaps for Debt Relief and Environmental Protection
2025 could be the tipping point for India’s economic aspirations
By Udaibir Das
The world’s most populous democracy faces a turbulent landscape of geopolitical rivalries, technological shifts and the urgency of climate action. The question remains: will global economic forces propel India toward leadership or will they impede its ascent?
Digital Public Infrastructure as a Catalyst for Private Sector Innovation: Lessons from Fintech Sector in India
Outlook 2025: Crucial ‘bridge year’ for Africa to lead on the global stage
By Udaibir Das
In 2024, Africa’s economic and political importance grew significantly, laying a strong foundation for 2025 to be a transformative year for the continent.
Defence ties: India, US eye new thrust
By Vivek Mishra
Indian leadership must remain cautious as "America First" will loom heavy on Trump's foreign policy. As transfer of technology is of high priority for India in defense collaborations, elements of this sector will likely be at odds with Trump’s agenda.
Breaking the Shackles of Geography
By Vivek Mishra
As India and CARICOM prepare for the next summit, this partnership promises to be a cornerstone of India’s expanded global engagement in the years to come.
The Future of Climate Cooperation between the United States and India
This volume of short working papers is a product of ORF America’s U.S.-India Emerging Climate Leaders as they attempt to develop ideas around climate collaboration and communication for the United States and India.
Special Report
By Abigail Doerr, Amol Kapoor, Bhagyashri Kulkarni, Dhruva Jaishankar, Jonika Rathi, Karan Sinha, Lindsay Maizland, Medha Prasanna, Meenakshi Venkatraman, Miaoru Guan, Mridu Jhangiani, Pankaj Mahalle, Patrick Soltis, Paul Gordon, Perrin Krisko, Sabareesh Suresh, Tanya Kak, Vandita Sariya, Vanshica Kant, and Vedant Patil
Editors: Caroline Arkalji, Jeffrey D. Bean, and Medha Prasanna