The core argument advocating India’s mediation has at all times been the propensity of strengthening New Delhi’s place in West Asia, towards Beijing selling its model of brokerage. India goals to attain this by means of financial diplomacy measures versus its involvement as a mediator, because the positive factors from financial manoeuvring promote long-term pursuits within the area.

From India’s perspective, taking part within the West Asian peace course of through the 2000s held strategic benefit, primarily because of its alignment with the pursuits of different influential Arab states within the area.

In a recent interview, Gharekhan highlighted a shifting dynamic whereby Arab international locations, notably Saudi Arabia, are shifting in direction of normalising relations with Israel. This signifies a waning curiosity within the Palestinian trigger, and serves as a major issue influencing India’s restrained involvement within the peace course of.

In addition to this, the upsurge of violence following the assaults of October 7 has witnessed a shift within the general social gathering arithmetic in Israel-Palestine. The elevation within the standing of Hamas to principal belligerent places Indian mediation visions in a decent spot as this isn’t a standard actor that it’s used to participating with. Thus, the presence of extra dangers than rewards nullify potential positive factors and forces a re-think on the modality of engagement.

To that finish, India has adopted financial diplomacy as a pivotal technique to boost its presence in West Asia. This method is obvious in bilateral engagements with Saudi Arabia, notably after establishing the India-Saudi Arabia Strategic Partnership Council in 2019. On a multilateral stage, India continues to forge connections by means of initiatives like I2U2, the West Coast Refinery Project, and the India-Middle East-Europe Economic Corridor (IMEC). These collaborations not solely solidify India’s significance in West Asia but in addition foster crucial financial partnerships with key gamers resembling Israel, Saudi Arabia, and the United Arab Emirates.

India’s pathway to consolidating its place in West Asia lies in its geo-economic ambitions with main regional actors on a bilateral and multilateral scale. While India’s distinctive place within the age-old battle could seem unparalleled, attaining its pursuits within the area is way extra rational by means of financial collaborations reasonably than the utilization of geopolitical ways, resembling mediation.

Arkoprabho Hazra is a supervisor, Aakhya India. X: @ArkoprabhoH.

Abhiraj Goswami is a junior lecturer of political science, University of Amsterdam. X: @wontkillthekaju.

(Disclaimer: The views expressed above are the writer’s personal. They don’t essentially mirror the views of DH).