India’s major aluminium producers, HINDALCO and Vedanta, investing to the tune of the USD two billions in the processing of aluminium are naturally to be worried, if the US-Ukraine finally sign the mineral agreement.
It is going to adversely affect the Indian producers, if the US, Ukraine and Russia set up joint ventures in Ukraine for manufacturing aluminium in Ukraine. At present countries like Canada, China, India and Russia export aluminium to the US . It is estimated that the Trump Administration has already decided to invest about 150 billion USD in the mining sector of Ukraine.
The possibility of this much-awaited thaw was indicated on Saturday, 1 March, when the US President, Donald Trump, indicated before the American media that he was ready to welcome Ukrainian President Vladimir Zelanskyy, if he is ready to sign a multidimensional agreement with the US for peace and investments in his country for minerals.
Trump is keen that the recent investments estimated to be USD 500 billion committed to Ukraine must be made productive and also for stabilising the political systems in Ukraine. It appeared Trump’s agenda for peace suffered when Zelanskyy refused to sign the American draft for peace and investments.
In spite of the heated exchanges recently witnessed between Trump and Zelanskyy at the White House, the two leaders, who appear to be renegotiating for peace soon. They are expected to meet again on Friday, 7 March.
The initial reaction to the live telecast of the heated exchanges between Trump and Zelanskyy had caused worldwide concerns,however, within a few hours it was not a summit of two chief executives of the US and Ukraine, but it, perhaps, was comic interlude, giving a new dimension to the world of diplomacy.
For the foreign affairs scholars in New Delhi, it could be a new experiment in the sensitive field of diplomacy. If the Chinese President Xi Jinping has been advocating an aggressive form of diplomacy known as the woolfish approach in dealing with other countries, Trump and Zelanskyy would be remembered for making comical scenes during their summit to be a part of world diplomacy.
Initially, the world capitals from Europe to Asia, perhaps, were stunned for a while that the much-awaited peace in Europe might remain elusive, but later it was noticed that Zelanskyy had earned a name as a comedian before leading his country. Similarly, Trump has done a few successful television shows before becoming the president.
Asked why the Indian media suddenly became critical of the Ukrainian leader, a senior diplomat confided to the Financial World that for most readers and television viewers, the Indian media is just an extension of the entertainment channels. They seldom offer any serious content, but are seen weaving narratives for camouflaging the poor performance of the government of the day. Therefore, their overdrive in criticising Zelanskyy could be an extension of the non-performance of India’s
present top diplomat, S. Jaishankar, who is also the political face of the contemporary regime of Prime Minister Narendra Modi as its foreign minister. It, however, is not surprising that the Indian channels are abuzz with anchors and analysts resembling parrots painted in attractive colours are being seen portraying the eclipse of Indian foreign policy from her neighbourhood to Washington as a milestone of great successes of the Indian regime. Jaishankar’s cowardice was palpable when he gave a subdued statement before the Rajya Sabha that the handcuffing and enchaining of the Indian citizens accused of entering the US was a part of the standard operating system of the US Homeland security. Apart from embarrassing his fellow citizens in India , the Indian foreign minister cannot deny that during his tenure the country’s influence has substantially declined from Maldives to Bangladesh.
Indian Interests
During the past 10 years, the Modi regime has made India’s capital industries such as steel and aluminium suffer due to the lack of government support. With the Indian foreign minister behaving like an under secretary of the US State Department, there is disquiet in the industrial sector, whether he would ever care to protect Indian interests and dignity.
With India losing her markets in the West, a bleak future awaits India’s steel and aluminium industries. They are being sandwiched between the Chinese threats of dumping its products in India and the changing scenario in the world industries, especially with the US entry in the mineral-rich Eastern Europe and Russia.
It is estimated that the US would soon be accessing and processing 22 minerals, including ferroalloys, non-ferro alloys and rare earth metals, such graphites, key components in electrical car batteries and nuclear reactors.
In the case of bauxite, China, which produces 60 percent of the world’s production, might find India an ally. However, India’s top leadership in the key areas continue to be confused. They want to worship Washington and Beijing simultaneously.
Gopal Misra has been associated with national and international media. His books on journalism and geo-politics have been well-appreciated. Views are personal.
