Indo-Pacific Regional Dialogue (IPRD-2022) | 26 Nov 2022

Why in News?

Recently, the fourth edition of Indo Pacific Regional Dialogue concluded in Delhi.

What is Indo Pacific Regional Dialogue (IPRD)?

• About:
  • IPRD is an apex level international annual conference of the Indian Navy.
    • In 2018, the initial conception of an IPRD was made.
    • With the exception of 2020, when it had to be postponed owing to the Covid-19, the event has been hosted annually since its initial year in 2018.
  • The National Maritime Foundation (NMF) is the Navy's knowledge partner and chief organizer of each edition of the event.
• Theme for 2022:
  • Operationalising the Indo-Pacific Oceans Initiative
• Objectives:
  • The IPRD reviews the current geopolitics in the Indo-Pacific region and identifies opportunities, dangers, and problems that might be present.
  • IPRD remains crucial to its interests because one of the main goals of the NMF is to conduct analyses of international relations and geopolitical factors that are important to India strategically,

What is the Indo-Pacific Oceans Initiative (IPOI)?

• It was articulated by the Indian Prime Minister at the 14^th East Asia Summit (EAS) in 2019.
• It is a comprehensive and inclusive construct for regional cooperation that is focused on seven interconnected spokes or pillars:
  • Maritime Security
  • Maritime Ecology
  • Maritime Resources
  • Disaster Risk-reduction and Management
  • Trade-Connectivity and Maritime Transport
  • Capacity-building and Resource sharing
  • Science, Technology and Academic Cooperation

What is the Indo-Pacific Region?

• About:
  • Indo-Pacific is a recent concept. It was about a decade ago that the world started talking about the Indo-Pacific; its rise has been quite significant.
  • One of the reasons behind the popularity of this term is an understanding that the Indian Ocean and the Pacific are a linked strategic theater.
    • Also, the centre of gravity has shifted to Asia. The reason being maritime routes, the Indian Ocean and the Pacific provide the sea lanes. The majority of the world’s trade passes through these oceans.
• Significance:
  • The Indo-Pacific region is one of the most populous and economically active regions of the world which includes four continents: Asia, Africa, Australia and America.
  • The dynamism and vitality of the region is self-evident, 60% of the world's population and 2/3^rd of the global economic output makes this region a global economic centre.
  • The region is also a great source and destination for Foreign Direct Investment. Many of the world’s critical and large supply chains have an Indo-Pacific connection.
  • There are vast reserves of marine resources in the Indian and Pacific Oceans combined, including offshore hydrocarbons, methane hydrates, seabed minerals and rare earth metals.
    • Sizable coastlines and Exclusive Economic Zones (EEZs) provide littoral countries with competitive capabilities for exploiting these resources.
    • In turn, a number of the world's largest economies are located in the Indo-Pacific region, including India, U.S.A, China, Japan, Australia.

Source: PIB