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21. Land Title Insurance in India: Lessons from U.S. Regulatory Approaches

Author:
Anirudh Burman
Publication Date:
08-2020
Content Type:
Working Paper
Institution:
Carnegie Endowment for International Peace
Abstract:
India’s insurance market for land titles is still in the early stages of development. Borrowing from the U.S. model, here’s what Indian insurers and officials alike can do to keep the market flourishing and protect consumers. The poor quality of land title records in India is a significant impediment for growth and urbanization. Bad land title records result in excessive litigation, property disputes, and cases of fraud. This in turn affects the cost and certainty of transactions that involve land and real estate. While the Indian government has been operating a land record modernization program for over a decade, progress has been slow. This paper accordingly proposes that land title insurance be encouraged to reduce losses in land transactions. Title insurance will also provide buyers of land and real estate a mechanism for mitigating the risks that arise from such transactions. Insurance products cannot be launched in India without prior registration with the insurance regulator, the Insurance Regulatory and Development Authority of India (IRDAI). So far, IRDAI has registered some title insurance products, and it is now in the process of developing a general regulatory framework for the product. Once in place, this regulatory framework will determine the development of the title insurance market and consequently its ability to solve issues related to land transactions. Therefore, it is important that the regulatory framework adopted be suitably tailored to the unique characteristics of land title insurance as a product. In addition, the regulatory framework must give due regard to the incipient nature of the market in India. While title insurance is a new product in India, it is widely used in the United States. India’s regulatory framework can therefore be better informed by an examination of title insurance regulation in the United States. This is especially so given that insurance in the United States is determined at the state level, so different states follow different models of regulation. This diversity provides an opportunity to better understand how title insurance should be regulated given the local environment.
Topic:
Urbanization, Regulation, Land, and Insurance
Political Geography:
South Asia, India, North America, and United States of America

22. At a Crossroads? China-India Nuclear Relations After the Border Clash

Author:
Toby Dalton and Tong Zhao
Publication Date:
08-2020
Content Type:
Working Paper
Institution:
Carnegie Endowment for International Peace
Abstract:
While both countries may think the situation is under control, dismissive attitudes and misperceptions could end up fueling a dangerous competition. On June 15, 2020, a lethal military conflict over disputed territory in the Himalayas shook the edifice of China-India relations. The clash in the Galwan Valley along their shared border is the gravest military confrontation the two nuclear powers have faced in fifty years. This event and ongoing tensions focus attention on the long-standing but tempered competition between China and India. One of the most interesting puzzles of that relationship is why nuclear weapons, which both possess, have not played a more important role. With the potential for a major reset in China-India ties after the Ladakh crisis, are Beijing and New Delhi finally approaching a long-anticipated crossroads in their nuclear relations? The findings reveal that while Indian security analysts give serious attention to China’s nuclear policy and capabilities, Chinese analysts maintain a dismissive attitude about the relevance of nuclear weapons in China-India relations. The attitude stems from a widely held view that India’s indigenous military technologies are significantly behind China’s and that China will continue widening the gulf between the two countries’ conventional and nuclear capabilities. However, Chinese analysts do not appear to fully appreciate the long-term destabilizing implications of this growing gap. India may feel pressure to build out its nuclear arsenal, and this could further threaten the fragile stability between India and Pakistan. Chinese experts tend to underestimate the role Beijing may have in shaping New Delhi’s threat perception and nuclear strategy.
Topic:
International Relations, Nuclear Weapons, Military Affairs, and Borders
Political Geography:
China, South Asia, India, and Asia

23. Toward Accountable Nuclear Deterrents: How Much is Too Much?

Author:
George Perkovich
Publication Date:
02-2020
Content Type:
Working Paper
Institution:
Carnegie Endowment for International Peace
Abstract:
For decades, policy debates in nuclear-armed states and alliances have centered on the question, “How much is enough?” What size and type of arsenal, and what doctrine, are enough to credibly deter given adversaries? This paper argues that the more urgent question today is, “How much is too much?” What size and type of arsenal, and what doctrine, are too likely to produce humanitarian and environmental catastrophe that would be strategically and legally indefensible? Two international initiatives could help answer this question. One would involve nuclear-armed states, perhaps with others, commissioning suitable scientific experts to conduct new studies on the probable climatic and environmental consequences of nuclear war. Such studies would benefit from recent advances in modeling, data, and computing power. They should explore what changes in numbers, yields, and targets of nuclear weapons would significantly reduce the probability of nuclear winter. If some nuclear arsenals and operational plans are especially likely to threaten the global environment and food supply, nuclear-armed states as well as non-nuclear-weapon states would benefit from actions to physically reduce such risks. The paper suggests possible modalities for international debate on these issues. The second initiative would query all nuclear-armed states whether they plan to adhere to international humanitarian law in deciding if and when to detonate nuclear weapons, and if so, how their arsenals and operational plans affirm their intentions (or not). The United Kingdom and the United States have committed, in the words of the 2018 U.S. Nuclear Posture Review, to “adhere to the law of armed conflict” in any “initiation and conduct of nuclear operations.” But other nuclear-armed states have been more reticent, and the practical meaning of such declarations needs to be clarified through international discussion. The two proposed initiatives would help states and civil society experts to better reconcile the (perceived) need for nuclear deterrence with the strategic, legal, and physical imperatives of reducing the probability that a war escalates to catastrophic proportions. The concern is not only for the well-being of belligerent populations, but also for those in nations not involved in the posited conflict. Traditional security studies and the policies of some nuclear-armed states have ignored these imperatives. Accountable deterrents—in terms of international law and human survival—would be those that met the security and moral needs of all nations, not just one or two. These purposes may be too modest for states and activists that prefer the immediate prohibition and abolition of nuclear weapons. Conversely, advocates of escalation dominance in the United States and Russia—and perhaps in Pakistan and India—will find the force reductions and doctrinal changes implied by them too demanding. Yet, the positions of both of these polarized groups are unrealistic and/or unacceptable to a plurality of attentive states and experts. To blunt efforts to stifle further analysis and debate of these issues, the appendix of this paper heuristically rebuts leading arguments against accountable deterrents. Middle powers and civil society have successfully put new issues on the global agenda and created political pressure on major powers to change policies. Yet, cooperation from at least one major nuclear power is necessary to achieve the changes in nuclear deterrent postures and policies explored here. In today’s circumstances, China may be the pivotal player. The conclusion suggests ways in which China could extend the traditional restraint in its nuclear force posture and doctrine into a new approach to nuclear arms control and disarmament with the United States and Russia that could win the support of middle powers and international civil society. If the looming breakdown in the global nuclear order is to be averted, and the dangers of nuclear war to be lessened, new ideas and political coalitions need to gain ascendance. The initiatives proposed here intended to stimulate the sort of analysis and debate from which such ideas and coalitions can emerge.
Topic:
Arms Control and Proliferation, Environment, Nuclear Power, Weapons, and Deterrence
Political Geography:
Pakistan, Russia, China, India, Global Focus, and United States of America

24. The Dawn of India’s Fourth Party System

Author:
Milan Vaishnav and Hintston
Publication Date:
09-2019
Content Type:
Working Paper
Institution:
Carnegie Endowment for International Peace
Abstract:
With the BJP’s return to power following May 2019 general election, India appears to have ushered in a new dominant party system—one premised on a unique set of political principles, showing a clear break with what came before. In the wake of the 2019 general election results, which come on the back of significant political changes at the level of India’s states, there is empirical support for more unequivocal judgments. Indeed, the available evidence points in one direction: 2014 was not an aberration; it was instead a harbinger of a new era.10 India does appear to have ushered in a new, fourth party system—one that is premised on a unique set of political principles and that shows a clear break with what came before. In the 2019 general election, the BJP did the unthinkable: the party clinched a second consecutive majority in the Lok Sabha, a feat that was last accomplished by the Congress Party in 1980 and 1984.
Topic:
Government, Elections, and Political Parties
Political Geography:
South Asia and India

25. India’s Quest for Jobs: A Policy Agenda

Author:
Venkatraman Anantha ("Van") Nageswaran and Gulzar Natarajan
Publication Date:
10-2019
Content Type:
Working Paper
Institution:
Carnegie Endowment for International Peace
Abstract:
Proven to be the best engines for job creation, new and smaller enterprises are India's answer to rising unemployment and a burgeoning youth population. Research findings related to entrepreneurship, business growth, and job creation—as well as a comparison of India’s private sector with those of other countries—reveal an alternative path forward for generating productive jobs in India. Seven findings are particularly relevant: 1. Although micro businesses dominate most countries’ economies, India’s economy has an excessive proportion of less productive, informal micro businesses. 2. Employment in India is concentrated in the micro businesses, whereas in developed countries, it is concentrated in formal small and medium-sized firms. 3. Productive jobs are created by firms that start out as formal. 4. New and young firms create more jobs than older, established firms. 5. Growing and efficient firms are founded and run by educated entrepreneurs. 6. Older firms in India exhibit lower productivity than firms of similar ages in developed countries. 7. India has a deficit of productive, job-creating entrepreneurs and an excess of informal entrepreneurs focused on surviving. Based on the findings, it is clear that policies aimed at creating jobs should support, first and foremost, the establishment and growth of new and young formal firms. These policies should make it easier and less costly for entrepreneurs to start and grow a firm.
Topic:
Employment, Youth, Labor Policies, and Unemployment
Political Geography:
South Asia and India