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The article highlights a strategic alignment between India and the United States, specifically focused on leveraging the Financial Action Task Force (FATF) to address concerns about Pakistan's role in terror financing. Foreign Secretary Vikram Misri's visit to Washington served as a platform to solidify this collaboration, emphasizing the mutual interest in strengthening economic and financial ties while simultaneously addressing security concerns related to Pakistan's alleged support for terrorist activities. The core of the discussion revolves around India's efforts to ensure Pakistan remains on or is placed back onto the FATF's grey list, a designation that signifies a country's deficiency in combating money laundering and terrorist financing. India's strategy involves presenting evidence of Pakistan's involvement in terror-financing to the FATF, aiming to pressure Pakistan to take more concrete steps to curb such activities. The cooperation with the US is critical, as the US wields significant influence within the FATF and can lend crucial support to India's efforts. Misri's meeting with Deputy Secretary of the Treasury Michael Faulkender underscores the importance of financial diplomacy in this endeavor. The article also mentions the broader context of deepening US-India relations, referencing Prime Minister Modi's visit to the US and the launch of the India-US COMPACT. This initiative aims to foster greater military partnership, accelerate commerce, and promote technological collaboration between the two countries. This broader strategic partnership provides a strong foundation for cooperation on specific issues like the FATF, as the US and India share common interests in regional stability and counter-terrorism. The defense cooperation aspect is further emphasized by Misri's meetings with Deputy Secretary of Defense Steve Feinberg and Under Secretary for Policy Elbridge Colby. These discussions centered on enhancing co-production and co-development initiatives in the defense sector, conducting sustained joint military exercises, improving logistics and information-sharing frameworks, and enhancing interoperability between the armed forces. This heightened defense cooperation signals a deepening strategic alignment between the two countries, which extends beyond the specific issue of the FATF. The luncheon meeting with Deputy Secretary of State Christopher Landau provided an opportunity to review the full spectrum of the bilateral agenda, encompassing trade, technology, and regulatory cooperation. The article mentions progress on the India-US Bilateral Trade Agreement, cooperation in critical and emerging technologies, and the need to streamline ITAR and export control regulations. These discussions reflect a commitment to fostering a more robust and mutually beneficial economic relationship. Overall, the article paints a picture of a multifaceted partnership between India and the US, characterized by deepening economic ties, enhanced defense cooperation, and a shared interest in addressing security challenges, including those related to Pakistan's role in terror-financing. The collaboration on the FATF is a key component of this broader strategic alignment, demonstrating the commitment of both countries to working together to promote regional stability and counter-terrorism. The emphasis on economic and financial cooperation suggests a long-term vision for the relationship, with both countries seeking to build a strong and sustainable partnership that can withstand the challenges of the 21st century. The article, though concise, effectively conveys the key aspects of this evolving relationship and highlights the strategic importance of the FATF in the context of counter-terrorism efforts. The detailed discussions across various domains, including defense, trade, and technology, illustrate the comprehensive nature of the India-US partnership and its potential to shape regional and global dynamics.
The significance of India's pursuit of placing or maintaining Pakistan on the FATF grey list cannot be overstated. The FATF, as a global standard-setting body for combating money laundering and terrorist financing, plays a crucial role in promoting financial integrity and security worldwide. A country placed on the grey list faces increased scrutiny from international financial institutions, which can lead to significant economic consequences, including reduced access to international financing, difficulty in attracting foreign investment, and reputational damage. For Pakistan, being on the grey list has already had a tangible impact on its economy, and the prospect of remaining on or being placed back on the list is a major concern for its government. India's efforts to highlight Pakistan's alleged involvement in terror-financing are therefore aimed at exerting pressure on Pakistan to take more effective measures to address this issue. The evidence presented by India to the FATF is crucial in influencing the organization's decision. This evidence typically includes information on the financial activities of terrorist groups operating in Pakistan, the sources of their funding, and the measures taken by the Pakistani government to prevent and prosecute these activities. The collaboration with the US in this context is invaluable, as the US has the resources and expertise to gather and analyze intelligence on terrorist financing networks. The US also has a strong voice within the FATF, and its support for India's position can significantly increase the likelihood of Pakistan being placed on the grey list. The broader implications of India's efforts extend beyond the immediate impact on Pakistan. By holding Pakistan accountable for its alleged support for terror-financing, India is sending a strong message to other countries that such activities will not be tolerated. This can contribute to a more secure and stable regional environment, as countries are less likely to support terrorism if they face the risk of international sanctions and economic consequences. The article also underscores the importance of international cooperation in combating terrorism. Terrorism is a global threat that requires a coordinated response from all countries. The FATF provides a framework for this cooperation, by setting standards for combating money laundering and terrorist financing and by assessing the compliance of countries with these standards. India's collaboration with the US in the FATF context is a prime example of how countries can work together to address this shared threat. The article also highlights the evolving nature of the India-US relationship. From being Cold War adversaries, India and the US have gradually forged a strong strategic partnership, based on shared values and common interests. This partnership is characterized by increasing cooperation in a wide range of areas, including defense, trade, technology, and counter-terrorism. The collaboration on the FATF is just one aspect of this broader strategic alignment, demonstrating the depth and breadth of the relationship between the two countries. The challenges that India faces in its relationship with Pakistan are complex and multifaceted. However, by working closely with the US and other international partners, India can increase the pressure on Pakistan to address the issue of terror-financing and contribute to a more secure and stable regional environment.
The strategic implications of the India-US COMPACT (Catalysing Opportunities for Military Partnership, Accelerated Commerce & Technology) for the 21st Century, as mentioned in the article, are far-reaching and deserve closer examination. This initiative signifies a concerted effort to elevate the existing defense and economic ties between the two nations to a new level of integration and synergy. The military partnership component focuses on fostering co-production and co-development initiatives, which entails joint ventures in the manufacturing of defense equipment and collaborative research and development efforts. This not only enhances the defense capabilities of both countries but also promotes technology transfer and creates opportunities for economic growth. Sustained joint military exercises are another key aspect of the military partnership. These exercises allow the armed forces of both countries to train together, share best practices, and improve interoperability. This is particularly important in the context of emerging security challenges, such as cyber warfare and maritime security, where close coordination and cooperation are essential. The logistics and information-sharing frameworks provide a crucial foundation for the military partnership. By establishing robust communication channels and sharing intelligence, the two countries can enhance their situational awareness and respond more effectively to threats. The enhanced interoperability between the armed forces is a long-term goal that requires sustained effort and investment. This involves standardizing equipment, procedures, and communication protocols, which can significantly improve the effectiveness of joint operations. The accelerated commerce component of the COMPACT aims to promote trade and investment between the two countries. This includes streamlining regulations, reducing trade barriers, and facilitating the flow of capital. The cooperation in critical and emerging technologies is particularly important in the context of the fourth industrial revolution. This includes areas such as artificial intelligence, quantum computing, and biotechnology, where both countries have significant strengths and can benefit from collaboration. The need to streamline ITAR and export control regulations is a recurring theme in discussions between India and the US. These regulations can often hinder technology transfer and limit the scope of collaboration. Addressing these issues is therefore crucial for realizing the full potential of the COMPACT. The India-US Bilateral Trade Agreement, as mentioned in the article, is another important element of the economic partnership. A comprehensive trade agreement can significantly boost trade and investment between the two countries, creating jobs and promoting economic growth. The COMPACT is not only beneficial for India and the US but also has broader strategic implications for the Indo-Pacific region. By strengthening their partnership, India and the US can contribute to a more stable and prosperous regional order. This is particularly important in the context of rising geopolitical tensions and the increasing assertiveness of China. The COMPACT is a long-term initiative that requires sustained commitment and effort from both sides. However, the potential benefits are significant, and the initiative has the potential to transform the relationship between India and the US. Overall, the article highlights the growing strategic convergence between India and the US and their shared commitment to promoting peace, stability, and prosperity in the Indo-Pacific region and beyond.
Source: Hoping to put Pakistan on grey list, India eyes FATF tango with US