Virtual - Indo Pacific Defence & Security, Expo & Conference 2021

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BACKGROUND NOTE [2]

Recent Developments in the Indo-Pacific region:

The Indian ocean region is an area of interest to global powers because of 28 states, spans across three continents and covers 17.5% of global land area.

• The Indian Ocean holds 16.8% of the world's proven oil reserves and 27.9% of proven natural gas reserve.
• Indian Ocean economies accounted for 35.5% of global iron production and 17.8% of world gold production in 2017.
• The region was also responsible for 28% of global fish capture in 2016, and there has been a continuous increase in fish capture in the region since the 1950s.
• This has created a successful basis for export industries in a number of countries. For example, Indonesia and India accounted for around 4.5% of global frozen fish exports in 2017.

India has pacts with six Nations that have interest in the Indo-Pacific region. They are US, France, Singapore, South Korea, Australia and Japan. Advanced discussions are also on with Russia to ink the pact soon. India and the UK are also in the final stages of signing a defence logistics sharing pact. Through these logistics pacts India would not only have access to the entry and exit points in the Indian Ocean, but reach and presence at strategic locations in the Indo-Pacific.Click here for More information [2]

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