India dismisses China's claim of Arunachal Pradesh as its territory in new map


Taniya Dutta
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India has dismissed a map released by China that includes contested territories controlled by New Delhi, calling it an "absurd claim".

India’s External Affairs Minister Subrahmanyam Jaishankar said on Tuesday that China had an “old habit” of including territories belonging to other countries in its maps.

“These (territories) are very much part of India. This government is very clear what our territories are and what we need to defend our territories. Making absurd claims doesn't make other territories yours,” Mr Jaishankar told the New Delhi Television news channel.

The map includes India’s north-eastern state of Arunachal Pradesh and parts of Kashmir. It was released on Monday, days after the two nations agreed to deescalate border disputes.

It also shows the island of Taiwan and the South China Sea as Chinese territory.

Beijing and New Delhi have had frosty diplomatic ties after their troops were involved in deadly clashes in 2020 along part of their disputed border in the Ladakh region.

At least 20 Indian soldiers and four Chinese soldiers died in fighting in the area.

The map was officially released on Monday on the Ministry of Natural Resources standard map service website, state-run Global Times said in a post on X, formerly known as Twitter.

“This map is compiled based on the drawing method of the national boundaries of China and various countries in the world,” the newspaper said.

The nuclear-armed nations share a 4,000km-long undemarcated border along the Himalayan mountain range from Ladakh in the north to Sikkim and Arunachal Pradesh in the east, known as the line of actual control, or LAC.

Arunachal Pradesh lies on the Indian side of the eastern tip of the LAC, which China considers southern Tibet.

India has said the state has “always been” and will “always be” an integral part of the country.

China claims that sections of Ladakh, including Aksai Chin, were part of the ancient Chinese empire.

India’s Ministry of External Affairs did not respond to The National’s request for comment on China's new map.

The map was released days after India's Prime Minister Narendra Modi and Chinese President Xi Jinping agreed to prioritise efforts to de-escalate border tensions during a brief meeting at the Brics summit in South Africa on Friday.

There have been several rounds of high-level talks between senior military commanders and Foreign Ministry officials from both sides without significant progress.

The two nations held the 19th round of the India-China Corps Commander Level Meeting at the Chushul-Moldo border meeting point on the Indian side on August 13 and 14.

China renamed about a dozen places in Arunachal Pradesh, which it referred to as “Zangnan, the southern part of Tibet”, in April this year.

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Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

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The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

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Updated: August 29, 2023, 2:35 PM