Reset, Resilience and Recovery
The Observer Research Foundation and the Government of Maharashtra are delighted to announce the launch of ‘Colaba Conversation’ – Mumbai’s signature forum for discussing international policy issues affecting the city, the nation, and the world.
This year’s inaugural conference to take place on February 2nd and 3rd, 2021, will invite policymakers, business leaders, experts, and community leaders to discuss global cooperation in a deeply critical and contested world. We will see over 70 speakers from 20 countries converge virtually at Mumbai, the bustling port city and economic capital of India.
The pandemic is radically transforming the way we live, work, and interact; a ‘new normal’ is crystallising. This transition will require an equal reengineering of the global economy, policy-making institutions, and governance processes. Rethinking a new global governance architecture needs room for short-term responses guided by the evolving nature of the pandemic and long-term responses guided by the fundamental shifts in global affairs.
The Indo-Pacific has now replaced the Asia-Pacific as the world’s primary theatre of geopolitics and geoeconomics, making India a primary stakeholder on strategic issues of the region. The rise of state-led capitalism evangelised by China and the diminished influence of the post-war security arrangements is forcing nations to cement new defence and economic alliances.
Within national boundaries, a new contract between markets, states and society is appearing. Sub-national governments and leaders are collaborating with their peers globally to respond to climate change, pandemics, and inequality, and to the needs of globalised youth. A new governance paradigm is emerging as technological advances are being leveraged to improve governance and economic opportunity.
Mumbai’s thriving international business centre, creative ecosystem and diverse communities makes it an ideal place to discuss emerging governance issues afflicting the world.
Named after ‘Kulaba’, one of the seven islands that created the archipelago of Mumbai, the Colaba Conversation will serve as a medium for multi-stakeholder consultations and dialogue on the emerging role of commerce, community, and creativity in the Indo-Pacific. In order to interrogate these evolving global dynamics with purpose and foresight, there are four convictions that will guide the forum namely: ‘Para-diplomacy’, ‘Globalised cities’, ‘Digital Futures’, and the ‘New Green Deal’.
First, sub-national leaders and governments are playing an integral role in global affairs. Globally fluent cities are setting the norms of the unfamiliar order. The current volatility in the world calls for a virtual shrinking of geographies and building from both within and beyond. It is the moment to look for the commons. ‘Para-diplomacy’ can complement federal policies, create healthy competition for investment and lead to allocative efficiency, where states and city governments are able to accelerate the process of attracting investment and technical know-how into areas where they enjoy a comparative advantage.
Second, building an economically vibrant, interconnected and prosperous Asia is unlikely without a dynamic and reinvigorated Mumbai. Or indeed, without Asia’s other megacities. In addition to being hubs of innovation, commerce and culture, cities are the biggest source of economic activity. In a world where the nation state has often failed to address the root causes of populism and economic nationalism – the need for cities to engage with global conversations is magnified. Urban communities must adapt to the confluence of culture and technology to create a new “globalism”. This is where the conviction of ‘Globalised Cities’ emerges.
Third, as the disruptions of the 4IR and economy interconnectedness play out more aggressively in the post-pandemic New Normal, the social and cultural ecosystems will necessitate forging digital communities sensitive to cross-cultural diversities. Responding to demographic transformations through large scale investment in human capital, education and skilling are key to capitalise on the dividends of the 4th industrial revolution. ‘Digital Futures’ will look at seeking answers for the next six billion and the challenges of the future of work and the gig-economy.
Fourth, addressing climate change will require a multidimensional approach, one that focuses on new clean technologies, green financial instruments like muni-bonds, carbon-neutral business practices, and reinvesting in nature – simultaneously and seriously. The transition towards the ‘New Green Deal’ for India and the world will therefore need to promote a comprehensive, multi-stakeholder, multidimensional response to climate change.
The Colaba conversation will bring together a global network of leaders from government, industry, media, the youth and civil society to deconstruct, debate, and shape the politics, perceptions and policies which will be vital to the emergence of a new global order.
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