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<ul class="summary-list"><li>North Korea fighting alongside Russia would be a serious escalation to the Ukraine war.</li><li>NATO and Western allies are facing pressure to respond — but have historically been hesitant.</li></ul>Western allies have options to react to the threat of North Korean troops in Russia, but are hamstrung by fears of escalation, military experts told Business Insider. On Monday, the Pentagon<a target="_blank" href="https://www.defense.gov/News/Transcripts/Transcript/article/3948100/pentagon-deputy-press-secretary-sabrina-singh-holds-an-off-camera-on-the-record/"> said</a> that 10,000 North Korean troops had been shipped to Russia for training and were likely to join Russian forces"over the next several weeks." NATO chief Mark Rutte said that some troops are already in Kursk, <a target="_blank" href="https://www.nato.int/cps/en/natohq/opinions_230105.htm">calling</a> the move "a significant escalation." He added that it is "yet another" contravention of UN Security Council resolutions. He said the bloc is "actively consulting" on what to do next. Despite these statements — and a similar chorus of condemnation from Western governments — few commitments have been made. On Wednesday, Ukrainian President Volodymyr Zelenskyy expressed frustration, saying that his allies' response was "not so loud as it has to be" in reaction to the North Korean threat,<a target="_blank" href="https://www.politico.eu/article/volodymyr-zelenskyy-war-in-ukraine-russia-north-korean-troops-western-allies-response/"> Politico reported</a>. "Till now, we heard some reactions, but it is not strong enough," he added. <h2>A watershed moment?</h2>In itself, 10,000 more troops in Russia's war in Ukraine is not a game changer, Patrick Bury, a military analyst at the UK's University of Bath, told BI. The troops, many with no experience in real war situations, could also be of limited help. There is reason, however, to imagine the numbers could rise. North Korea has steadily ramped up its cooperation with Russia, reportedly supplying<a target="_blank" href="https://www.thetimes.com/world/russia-ukraine-war/article/north-korea-supplies-half-of-the-shells-used-by-russia-in-ukraine-d3fkhppjs"> half of all artillery shells</a> used in Ukraine in the last year. North Korean leader Kim Jong Un has the fourth-largest standing army in the world, so there is no shortage of troops. Crucially, experts consider his regime to be receiving<a target="_blank" href="https://www.businessinsider.com/north-korea-military-officials-helping-russia-ukraine-win-for-kim-2024-10"> an economic and technological lifeline</a> in exchange. Edward Hunter Christie, a former NATO official and a research fellow at the Finnish Institute of International Affairs, described the dangers of the partnership as "a much more serious test of resolve for the West than most people currently realize." He added: "There's a reluctance to act." This at least means there will be no rash decisions, he said. Christie, along with other experts BI spoke to, described a hesitancy and fear of escalation among Ukraine's biggest Western partners that amounts to alack of overall strategy. <h2>The West has some options — and a history of slapping them down</h2>When it comes to options for the US and Europe, "the tools are the same tools that have been there all along," Richard Fontaine, CEO of the Center for a New American Security,<a target="_blank" href="https://www.bloomberg.com./news/articles/2024-10-28/ukraine-allies-face-limited-options-as-north-korea-troops-arrive?embedded-checkout=true"> told Bloomberg.</a> That includes the ad-hoc trickling through of aid packages like one<a target="_blank" href="https://kyivindependent.com/norways-pm-announces-new-500-million-euro-aid-package-for-ukraine/"> recently announced by Norway</a>. It also includes things that have long been ruled out, like allowing Ukraine to make long-range strikes in Russia with Western-supplied missiles. A bipartisan group in Congress has called on Biden to allow Poland to intercept Russian missiles in Ukrainian airspace, <a target="_blank" class="" href="https://thehill.com/homenews/house/4960374-biden-poland-air-defense-ukraine/">The Hill reported</a>. It's a move that NATO's former chief Jens Stoltenberg had earlier ruled out, saying it would risk the alliance "becoming part of the conflict," the outlet reported. South Korea, too, has said it is considering sending military aid directly to Ukraine. It's an unprecedented move that could prove highly beneficial, but which the state is hesitant to make,<a target="_blank" href="https://www.businessinsider.com/south-korea-ukraine-weapons-big-difference-russia-north-korea-2024-10"> experts told BI</a>. Lithuania's foreign minister, Gabrielius Landsbergis, has also revived a suggestion made in February by France's President Emmanuel Macron of not ruling out the deployment of <a target="_blank" class="" href="https://www.businessinsider.com/french-president-wont-rule-out-sending-troops-ukraine-2024-2">NATO troops in Ukraine</a>, in support roles. "We are still on the back foot, reacting to escalation instead of reversing it,"<a target="_blank" href="https://x.com/GLandsbergis/status/1848006509013225679"> Landsbergis wrote on X</a>. "Macron's ideas should now be revisited." That idea was earlier<a target="_blank" href="https://www.businessinsider.com/everyone-angry-germany-series-screw-ups-leaks-scholz-macron-ukraine-2024-3"> publicly slapped down</a> by Germany's Chancellor, Olaf Scholz. Such a move "would free up a lot of resources for Ukraine," said Ann Marie Dailey, a geopolitical strategist at RAND. It would also send an important signal to Russia, she said: "That they don't have dominance on the escalation ladder." <h2>The escalation trap</h2>President Joe Biden's administration — along with much of Western Europe — has largely avoided actions that could be seen as escalating the conflict. The fact that now a serious escalation looks possible thanks to North Korea is an indication of the failure of that policy, Christie told BI. The US presidential election and the impending change of administration also puts a chilling effect on any dramatic changes in policy for the coming months, he said. "We live in an age of US-led hesitancy within the Western world, which just keeps on failing us, which just keeps on increasing the level of danger to the security of the collective West," he said. The bind for the Biden administration is not only in dealing with two nuclear states, but also that North Korea's belligerence could cause the conflict to spill over toward its southern neighbor and<a target="_blank" href="https://www.businessinsider.com/china-muted-response-russia-north-korea-alliance-costly-ukraine-economy-2024-10">damage relations with China.</a> Western states are likely to have been quietly hoping that China might step in diplomatically and dissuade North Korea, Christie said. At some point, the West has to react decisively, he argued. Dailey told BI: "The problem with having a strategy of de-escalation is that if that is your stated strategy, you've already ceded every step on the escalation ladder to the enemy." In Bury's view, the West's problem is that it cannot even agree on its broader strategy, let alone decide how to implement it. "The broader point here is: the West, we're not doing the strategy," he said. "We're muddling through."

What can the West do about North Korea giving troops to Russia? Not much it hasn't already flinched from.

Earlier this week, former US President Donald Trump revealed that Indian Prime Minister <keyword id="19895781" type="General" weightage="20" keywordseo="narendra-modi" source="keywords">Narendra Modi</keyword> is scheduled to meet with him next week. This potential gathering, set against the backdrop of Trump’s bid for a return to the White House, highlights how global leaders are positioning themselves in anticipation of possible changes in US leadership. “He happens to be coming to meet me next week, and Modi, he’s fantastic,” Trump said on Tuesday during a town hall event in Flint, Michigan, while discussing free trade and US job protection. He even went on to call India a “very big abuser” in trade, Al Jazeera reported. Most likely, Prime Minister Narendra Modi meeting up with Trump could be an acknowledgment of the latter's potential return to power in the November election, as foreign leaders carefully navigate diplomatic relations with key US political figures. However, neither the Trump campaign nor India’s Ministry of External Affairs have clearly commented on the matter yet, meaning that the Indian leader’s plans of a tête-à-tête with ex US President Trump are foggy at best. During a press conference, foreign secretary <keyword id="20181706" type="General" weightage="20" keywordseo="vikram-misri" source="keywords">Vikram Misri</keyword> said, "there are many meetings with the Prime Minister right now which we are trying to fix. Right now, I will not be able to tell you about any specific meeting, whether the meeting has been fixed or not." "We are looking from all angles as to how much time we have and with whom we can hold meetings. We will keep updating you about the meetings," he added. <div type="Article" hostid="261" msid="113444882" title="Trump says PM Modi will meet him during US visit, calls him &amp;#39;fantastic&amp;#39;" mstype="2" mssubtype="0"></div>What we do know with certainty is that Mr Modi is indeed scheduled to travel to the US over the weekend and his calendar is going to be jam-packed. His visit coincides with his planned participation at the <keyword id="23145156" type="General" weightage="20" keywordseo="Quad-Leaders-Summit" source="keywords">Quad Leaders Summit</keyword> (including representatives from Australia, India, Japan and the US) in Wilmington, Delaware, hosted by President Joe Biden. As per a White House official, the meet-up will feature "ambitious announcements in multiple areas such as maritime security, high-quality infrastructure and critical and emerging technologies to demonstrate the group’s endurance". Prime Minister Modi will have bilateral meetings with President Biden, Japanese Prime Minister Fumio Kishida, and Australian Prime Minister Anthony Albanese on Sunday, following the conclusion of the Quad Summit. A special event, the Cancer Moonshot initiative, is also scheduled on the sidelines of the summit. In his meeting with President Biden, India and the US are anticipated to sign several agreements, including those related to the Indo-Pacific Economic Framework and a memorandum of understanding (MoU) on drug frameworks. Foreign Secretary Vikram Misri stated that Modi and Biden will review the comprehensive global strategic partnership between India and the US, which spans over 50 areas of engagement and bilateral dialogue mechanisms. <div type="Article" hostid="261" msid="113085171" title="India is likely to benefit if Trump wins US elections, per Nomura Global Research" mstype="2" mssubtype="0"></div>Both leaders will also assess progress in areas of cooperation, though tensions remain due to the alleged assassination plot involving Khalistani leader Gurpatwant Singh Pannun. The investigation is ongoing, and India has formed a committee to examine the accusations. This visit may serve to ease some of the friction in the relationship. Defence cooperation remains a key area of collaboration between India and the U.S., including agreements on the procurement of 31 MQ-9B Predator drones, joint manufacturing of Stryker Infantry Combat Vehicles, and co-production of GE F414 engines in India. The Ukraine conflict is also expected to be a topic of discussion. Prime Minister Modi is supposed to attend the "Modi &amp; US" community event at the Nassau Veterans Memorial Coliseum in Long Island. The event, already overbooked with more than 24,000 Indian Americans registered for a venue with a capacity of 15,000, has attracted attendees from 42 states, especially the tri-state area. Additionally, PM Modi will allegedly lead a roundtable with CEOs of American companies working in fields like AI, quantum computing, biotechnology, and cutting-edge technology. Lastly, on September 23, Modi will address global leaders at the United Nations' Summit of the Future (SOTF) and is expected to hold bilateral meetings with other heads of state attending the UN General Assembly. Obviously, squeezing in a meeting with Trump and Democrat Candidate Kamala Harris (you know, to balance things out) seems unlikely given Mr Modi’s tight schedule. But we’ll have a clearer picture only in the coming days. <div type="Article" hostid="261" msid="111770277" title="PM Modi likely to address high-level UNGA session on Sep 26" mstype="2" mssubtype="0"></div>

Why is Indian Prime Minister Narendra Modi visiting the US this weekend?

<keyword id="19895045" type="General" weightage="100" keywordseo="Singapore" source="keywords">Singapore</keyword>: India and Singapore held the 2nd round of the <keyword id="21531849" type="General" weightage="20" keywordseo="India-Singapore-Ministerial-Roundtable" source="keywords">India-Singapore Ministerial Roundtable</keyword> (<keyword id="22918586" type="General" weightage="20" keywordseo="ISMR" source="keywords">ISMR</keyword>) in Singapore on Monday and reviewed the progress of the strategic partnership between the two nations, the Ministry of External Affairs said in a press release. The two nations decided to add two new pillars, 'Advanced Manufacturing and Connectivity' for further strengthening bilateral cooperation. Finance Minister Nirmala Sithraman, External Affairs Minister Jaishankar, Commerce and Industry Minister <keyword id="19895367" type="General" weightage="20" keywordseo="piyush-goyal" source="keywords">Piyush Goyal</keyword> and Railways Minister Ashwini Vaishnaw represented the Indian side in Singapore. From the Singapore side, Gan Kim Yong, Deputy Prime Minister and Minister for Trade and Industry, Vivian Balakrishnan, Minister for Foreign Affairs, K Shanmugam, Minister for Home Affairs and Minister for Law, Josephine Teo, Minister for Digital Development and Information and Second Minister for Home Affairs, Tan See Leng, Minister for Manpower and Second Minister for Trade and Industry and Chee Hong Tat, Minister for Transport and Second Minister for Finance participated in the meeting. "The Ministers reviewed the progress of India - Singapore Strategic Partnership, particularly under the pillars of Digitalization, Skills Development, Sustainability, Healthcare and Medicine, identified during the 1st meeting of ISMR, held in New Delhi on September 17, 2022," the statement read. They deliberated on ideas to expand bilateral cooperation and decided to add two new pillars, Advanced Manufacturing and Connectivity for further strengthening bilateral cooperation. The Ministers agreed to hold the next round of ISMR in India at a mutually convenient time. During their visit, the Indian Ministers also called on Singapore President, Tharman Shanmugaratnam, and Singapore Prime Minister Lawrence Wong. "India and Singapore are important partners of each other. The visit reaffirmed the commitment of both sides to further strengthen their multifaceted partnership," MEA added. Singapore Prime Minister Lawrence Wong has called the India-Singapore Ministerial Dialogue an important platform for strengthening bilateral ties. Finance Minister Nirmala Sitharaman thanked Singapore PM for meeting them and stated that talks with Lawrence Wong clearly show that ties between India and Singapore are on sound footing. <keyword id="19922551" type="General" weightage="20" keywordseo="EAM-Jaishankar" source="keywords">EAM Jaishankar</keyword> thanked the Singapore Ministers for their commitment to deepen ties between the two nations. (ANI)

India, Singapore to focus on advanced manufacturing, connectivity to boost bilateral relations

<keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword>'s <keyword id="19998537" type="General" weightage="20" keywordseo="foreign-exchange-reserves" source="keywords">foreign exchange reserves</keyword> have surged to a record high, reaching a new peak of $ 666.85 billion, according to data from the Reserve Bank of India (<keyword id="19899808" type="General" weightage="20" keywordseo="RBI" source="keywords">RBI</keyword>). The data highlights an increase of $9.69 billion in just one week, as of 12 July, surpassing the previous high of $657.2 billion. The reserves have been rising intermittently for some time now. The RBI data reveals that India's <keyword id="20972687" type="General" weightage="20" keywordseo="foreign-currency-assets" source="keywords">foreign currency assets</keyword> (FCA), the largest component of <keyword id="20344433" type="General" weightage="20" keywordseo="forex-reserves" source="keywords">forex reserves</keyword>, rose by $8.3 billion to $585.47 billion. Additionally, <keyword id="19895579" type="General" weightage="20" keywordseo="gold" source="keywords">gold</keyword> reserves increased by $1.2 billion, reaching $58.66 billion. According to a recent RBI report, India's foreign exchange reserves are now sufficient to cover over 11 months of projected imports. In the calendar year 2023, the RBI added approximately $58 billion to its foreign exchange reserves. In contrast, in 2022, India's forex reserves declined by a cumulative $71 billion. Forex reserves, or foreign exchange reserves (FX reserves), are assets held by a nation's central bank or monetary authority, typically in reserve currencies such as the <keyword id="19949640" type="General" weightage="20" keywordseo="us-dollar" source="keywords">US dollar</keyword>, and to a lesser extent, the euro, Japanese yen, and pound sterling. The country's foreign exchange reserves last reached an all-time high in October 2021. Much of the subsequent decline can be attributed to the increased cost of imported goods in 2022. Additionally, the relative fall in forex reserves has been linked to the RBI's market interventions, to manage the uneven depreciation of the rupee against a surging US dollar. The RBI frequently intervenes in the market through liquidity management, including the sale of dollars, to prevent steep depreciation of the rupee. The RBI closely monitors the foreign exchange markets and intervenes only to maintain orderly market conditions by containing excessive volatility in the exchange rate, without reference to any pre-determined target level or band.

India's forex reserves hit record $666.85 billion, driven by surging gold and foreign currency assets

New Delhi: India's <keyword id="19913114" type="General" weightage="20" keywordseo="initial-public-offering" source="keywords">Initial Public Offering</keyword> (IPO) market witnessed a resurgence in 2024, with a total of 272 companies going public compared to 164 during the previous fiscal year, highlights a report by <keyword id="19901201" type="General" weightage="100" keywordseo="SEBI" source="keywords" meta.keywordsubtype="org" meta.entityname="SEBI" meta.hostid="261" meta.entityid="SEBI">SEBI</keyword>. The market regulator SEBI stated that upbeat secondary markets, enthusiasm from retail investors, and strong institutional flows set the stage for a flurry of new listings. "After a relative moderation during 2022-23, the equity segment witnessed a resurgence in fundraising activity during the current fiscal. The <keyword id="19926041" type="General" weightage="20" keywordseo="IPO-market" source="keywords">IPO market</keyword> had been vibrant with a total of 272 companies going public as compared to 164 during the last fiscal year," said SEBI. The report also noted that India received the highest <keyword id="20018891" type="General" weightage="20" keywordseo="foreign-investment" source="keywords">foreign investment</keyword> in the year 2023-24, as the investment surged to a new high of Rs 3.4 lakh crore. It also added that the investment in the year 2023-24 is the highest since the year 1992-93. "Compared to net outflows of Rs 40,936 crore in 2022-23, FPIs invested Rs 3.4 lakh crore in India during 2023-24, which was the highest since 1992-93," said SEBI. SEBI highlighted that Foreign Portfolio Investment and foreign venture capital investment are crucial for emerging economies like India. FY 2023-24 was an exceptional year for India in terms of foreign portfolio investment flows. It added that India's continuing growth resilience, financial stability, reining in of inflation, fiscal consolidation coupled with the persistence of inflation in advanced economies, uncertain geopolitical scenarios, etc., attracted a record level of foreign flows to India. The report noted that in the midst of a subdued global economic scenario with recession risks and monetary tightening, India's economic prospects were bright among emerging markets, driven by a fillip in manufacturing and service sector activities, easing inflation, fiscal consolidation, financial stability, and buoyant <keyword id="20977711" type="General" weightage="20" keywordseo="market-performance" source="keywords">market performance</keyword>. According to the sector-wise breakup on FPI investment, the report stated that out of the consolidated Rs 64.2 lakh crore equity assets held by FPIs, Rs 18.6 lakh crore were invested in financial services, followed by oil, gas, and consumable fuels (Rs 6.0 lakh crore), information technology (Rs 5.9 lakh crore), and automobile and auto components with Rs 4.8 lakh crore invested.

You Searched For "foreign relations" and got 5 results

What can the West do about North Korea giving troops to Russia? Not much it hasn't already flinched from.

Mia Jankowicz

Why is Indian Prime Minister Narendra Modi visiting the US this weekend?

Ashmita Gupta

India, Singapore to focus on advanced manufacturing, connectivity to boost bilateral relations

ANI

India's forex reserves hit record $666.85 billion, driven by surging gold and foreign currency assets

ANI

In FY24, 272 companies went public as compared to 164 in FY23: SEBI

ANI

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