6th Indian Ocean Conference (IOC)

Why in news?

The 6^thedition of the Indian Ocean Conference (IOC) is being held by India Foundation in association with the Ministry of Foreign Affairs, Bangladesh and S. Rajaratnam School of International Studies.
The two-day Indian Ocean Conference — with the theme “Peace Prosperity and Partnership for a Resilient Future” — is being held in Dhaka.

What’s in today’s article?

Indian Ocean Region (IOR)

IOR is a geographical region that encompasses the Indian Ocean and its surrounding areas, including the littoral states and islands.
The region spans from:
- the African coast in the west to the Australian coast in the east, and
- the Arabian Peninsula and the Persian Gulf in the north to the southern coast of Sri Lanka and Australia in the south.
The Indian Ocean is the world's third-largest ocean, covering an area of approximately 70.6 million square kilometres.
It is home to several important sea lanes of communication, including the Strait of Malacca, the Suez Canal, and the Bab-el-Mandeb strait, which connect Asia, Europe, and Africa.

Significance of Indian Ocean Region (IOR)

Geopolitical Importance:
- Due to its geographical location, it serves as a major transit route for global trade, including oil and gas shipments.
- It is home to several important chokepoints, such as the Strait of Malacca and the Bab-el-Mandeb strait.
Economic Importance:
- The IOR is home to several fast-growing economies, including India, China, and several Southeast Asian nations.
- The region is rich in natural resources, including oil, natural gas, and fisheries, and is a major destination for foreign investment.
- It shares 64% of the global population and 60% of the global GDP.
Security Importance:
- The IOR is also a region of great security importance, with several countries in the region facing threats from terrorism, piracy, and maritime security challenges.
- The region has seen increased military activity in recent years, with major powers such as the US, India, and China increasing their presence in the region.
Environmental Importance:

The IOR is home to several important marine ecosystems, including coral reefs and mangrove forests that are vital for maintaining biodiversity and supporting local communities.
The region is also vulnerable to the impacts of climate change, including rising sea levels and increased frequency of extreme weather events.

Indian Ocean Conference (IOC)

IOC is an annual international conference that focuses on the geopolitical, economic, and strategic importance of the Indian Ocean region.
The conference brings together policymakers, scholars, business leaders, and civil society representatives to discuss issues related to security, trade, and cooperation in the Indian Ocean region.
The first edition of the Conference was held in Singapore in 2016. The fifth edition of IOC was held in 2021 in Abu Dhabi, UAE.
Organised by - India Foundation in partnership with other organizations in the region.

News Summary: 6th Indian Ocean Conference (IOC)

Key highlights of the speech delivered by EAM Jaishankar

On importance of restoring connectivity
- Connectivity is a crucial issue as the era of imperialism disrupted the natural linkages of the continent and created regional silos that served its own end.
- Restoring and enhancing flows between distinct regions is of utmost priority.
- For India, a land connect to South-East Asia and a multi-model one to the Gulf and Central Asia could be challenging but the nations should work collectively for a smooth connectivity.
- For India, an effective and efficient connectivity to ASEAN will be a game changer.
- While ensuring connectivity, he stressed upon the need to respect sovereignty and territorial integrity.
Cited example of the BIMSTEC
- Under BIMSTEC, the members are cognisant of the challenges they have in governance and modernisation.
- However, the member countries deal with these challenges through deeper cooperation and shared efforts.
  - BIMSTEC is a regional organization comprising seven member states in South Asia and Southeast Asia.
  - The member states of BIMSTEC are Bangladesh, Bhutan, India, Myanmar, Nepal, Sri Lanka, and Thailand.
On the issue of sustainable debt

He said that the issue of sustainable debt was a significant shared concern.
Encouraging opaque lending practices, exorbitant ventures, and price points that were unrelated to the market were bound to bite us back.

India is committed to the wellbeing and progress of all nations of the Indian Ocean
- India has dedicated bodies like the Indian Ocean Rim Association or the Indian Ocean Naval Symposium with specific mandate.
- In the Indian ocean region, India’s actions are guided by the ‘neighbourhood first’ policy and the Security And Growth for All in the Region (SAGAR) outlook.
On threats posed by extremism and fundamentalism
- Countries must also be conscious of the threats to social fabrics posed by extremism and fundamentalism taking advantage of democratic openness.
- Cost of not doing so is also starkly apparent to all of us today.
- Diplomacy cannot rest content merely by articulating a position; it equally needs practical action.