Indian Ocean Rim Association (IORA)

The Indian Ocean Rim Association (IORA) is a regional organization promoting open regionalism between Asia, Africa, and Australia through Indian Ocean waters.

India's Leadership and Priorities

• India is set to chair IORA starting November 2025 and aims to strengthen its governance structure.
• Three main priorities for India as the IORA Chair: 
  1. Creating funding opportunities to enlarge IORA’s budget.
  2. Integrating technology for data management and policy analysis.
  3. Developing maritime-ready courses in collaboration with academic and research institutions.

Geostrategic Importance of the Indian Ocean Region (IOR)

• The IOR is a critical subset of the Indo-Pacific, home to two-thirds of humanity and a hub for global trade and resources.
• Economic contributions include: 
  1. Transporting 75% of global trade and 50% of daily oil consumption.
  2. Producing $1 trillion in goods and services.
  3. Intra-IORA trade reaching $800 billion in 2023.
• Challenges faced: 
  1. Poor development and troubled political systems.
  2. Climate change-induced disasters and environmental degradation.
  3. Security issues like piracy, terrorism, and trafficking.

Challenges and Solutions for IORA

• IORA's budget is member-dependent, posing funding challenges.
• Potential solutions: 
  1. Involving private sector as consultative partners to contribute to IORA funds, especially in industries related to the blue economy.
  2. Enhancing technology use for better governance and policy-making.
• India's Security and Growth for All (SAGAR) vision aligns with IORA's objectives.

Collaborations and Future Prospects

• Leveraging the expertise of member countries in marine science, technology, and investments.
• Integrating traditional knowledge from coastal and island nations for sustainable marine governance.
• Education and research institutions to collaborate with industry leaders for developing marine and maritime-related courses.
• IORA has significant potential for regional prosperity, and India's leadership is crucial in addressing institutional issues.