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By:

Kaustubh Kale

10 September 2024 at 11:37:15 pm

Nine Financial Tips for a Prosperous Navratri

As Navratri draws to a close, I wish you and your family happiness, prosperity, and continued success. Festivals are a time of celebration, but they also serve as a valuable reminder to reflect on our financial habits and strengthen our financial discipline. In the spirit of the nine days of Navratri, here are nine essential financial tips to help you stay on track with your financial goals and make your journey towards financial freedom smoother and more secure. Build an Emergency Fund Make...

Nine Financial Tips for a Prosperous Navratri

As Navratri draws to a close, I wish you and your family happiness, prosperity, and continued success. Festivals are a time of celebration, but they also serve as a valuable reminder to reflect on our financial habits and strengthen our financial discipline. In the spirit of the nine days of Navratri, here are nine essential financial tips to help you stay on track with your financial goals and make your journey towards financial freedom smoother and more secure. Build an Emergency Fund Make sure you have at least six months of living expenses saved in a bank fixed deposit or a debt mutual fund. This reserve will serve as your emergency fund for unforeseen situations and ensures you are prepared for any rainy days. Review Your Asset Allocation Revisit your investments to ensure they align with your goals. For short-term goals within three years, bank fixed deposits, recurring deposits, or debt mutual funds are appropriate. For long-term goals beyond three years, a diversified combination of hybrid/equity mutual funds, direct equities, and gold should be preferred. Do Sufficient SIPs Systematic Investment Plans (SIPs) are the backbone of disciplined investing. At least 25-30 percent of your in-hand monthly income should ideally be invested through SIPs in mutual funds, equities, and gold. This consistent approach will steadily build wealth over time. Make Lumpsum Investments Along with SIPs, voluntary lumpsum contributions into long-term assets whenever you have surplus funds can accelerate wealth creation. Even occasional lumpsum additions make a significant difference to the overall corpus. Increase Your SIPs Annually As your income increases, make sure your investments grow as well. Increasing your SIP amounts every year helps your wealth stay in line with inflation and your rising lifestyle needs. Increase your SIPs yearly and anchor them to at least 30 percent of your monthly income. Stay Invested Remain invested until your financial goals are achieved. Avoid redeeming investments unnecessarily. Frequent withdrawals disrupt compounding. If liquidity is required, consider taking an overdraft loan against your investments rather than breaking them prematurely. Health Insurance Safeguard your family with adequate health insurance. Opt for a minimum cover of 25 lakhs per family member with comprehensive features. Remember that relying only on employer-provided insurance is risky. Independent health insurance is essential. Term Life Insurance Protect your loved ones with a pure term life insurance policy. Ensure a cover of at least ten times your annual income, along with provisions for any outstanding loans. Stay away from mixing insurance with investments. A simple term plan is the most effective solution. Consult a Financial Advisor A full-time, well-qualified financial advisor can simplify your financial journey. Professional guidance ensures disciplined planning, correct product selection, and proper execution of your financial strategy. May this festive season bring abundance and lasting financial peace. (The author is a Chartered Accountant and CFA (USA). Financial Advisor. Views personal. He could be reached on 9833133605.)

Anchoring the Indo-Pacific: Why the Greater Andaman-Nicobar Project is India’s Maritime Gamechanger

Sep 18, 2025
5 min read

Part 2: India’s Greater Nicobar project aims to turn a remote frontier into a maritime stronghold, marrying economic ambition with strategic necessity to counter China’s reach.

For decades, India has gazed upon its eastern seaboard with both pride and unease. The Andaman and Nicobar Islands - remote, sparsely populated and ecologically sensitive - has often been seen more as a conservation headache than a strategic asset. That view is now changing. With China expanding its presence across the Indian Ocean, New Delhi has unveiled the Greater Andaman-Nicobar Integrated Development Project (GANIDP), a Rs. 72,000-crore undertaking that combines infrastructure, defence and commerce. The sweeping ambition that accompanies this project is to convert the Nicobars into both a transshipment hub and a naval bastion, securing India’s role in the Indo-Pacific.


The islands’ geography is destiny. They sit near the Malacca Strait, one of the world’s busiest sea lanes, through which a quarter of global trade and the majority of China’s energy imports pass. Beijing’s strategists often fret about a ‘Malacca dilemma,’ which is the vulnerability of their supply lines at this chokepoint. To India, this vulnerability offers leverage. Should tensions escalate, Indian control over the Nicobars could in theory choke off Chinese shipping, imposing economic pain and naval paralysis.


The military component of the plan is explicit. Galathea Bay on Great Nicobar has been earmarked for a deep-sea port that can host container traffic and double as a naval base. Aircraft carriers, submarines, destroyers and advanced air-defence systems could be deployed here, giving India the ability to blockade the Malacca Strait if required. General Anil Chauhan, the Chief of Defence Staff, has emphasised on the need for a more expansive maritime doctrine. The Nicobar project, by enabling the operation of nuclear-powered carriers and frontline warships, is intended as the linchpin of that doctrine.


History underscores the urgency for this. The nearby Coco Islands, once meant to be under India’s sway, were ceded to Burma after independence. In the 1990s, Myanmar allowed China to develop them into a naval outpost. More recently, Beijing has been building an airstrip at Lal Munirhat in Bangladesh, potentially enabling fighter-jet deployments in India’s backyard. These developments form part of China’s ‘string of pearls’ strategy which involves ports and bases designed to encircle India. Against such encroachments, India’s reinforcement of the Nicobars is less an option than a necessity.


Critics of the plan argue otherwise. Environmentalists warn of habitat destruction, and activists raise alarms about the fate of the Shompen and Nicobarese tribes, whose cultures have endured for millennia in fragile equilibrium with the land. Congress leader Sonia Gandhi has called the project “an ecological disaster.” Her charge resonates with a broader scepticism that India cannot pursue large-scale development without trampling on people or nature.


But here, as in other episodes of India’s development politics, such objections are selective and reek of hypocrisy. When China militarised the Coco Islands, no protests were heard about indigenous rights or turtle nesting grounds. Yet when India proposes to build its own maritime hub, the chorus grows loud. To Indian officials, the timing is no coincidence: China’s supporters, they argue, would prefer the Nicobars remain underdeveloped and militarily toothless.


For anyone who cares to examine the project more closely, the Centre’s blueprint in fact stresses restraint. The project will cover 166 square kilometres - barely a tenth of Great Nicobar’s landmass. Its first phase centres on building a container transshipment port at Galathea Bay, with a projected capacity of 14.5m twenty-foot equivalent units (TEUs). If India manages to capture just 20 percent of the transshipment that currently bypasses it for Singapore or Colombo, the payoff would be enormous. Alongside the port will come an airport capable of handling wide-bodied jets, a power plant to meet civilian and military needs, and a new township at Campbell Bay, planned for 65,000 residents.


The project will unfold over three decades under the Andaman and Nicobar Integrated Development Corporation. Officials argue that the gradual pace will allow adjustments to minimise disruption. Environmental clearances have already passed through scrutiny by the Zoological Survey of India, the Wildlife Institute of India, and the Salim Ali Centre for Ornithology and Natural History. The National Board for Wildlife’s Standing Committee has de-notified parts of the Galathea Bay sanctuary but simultaneously recommended eight ecological corridors to preserve animal movement. Monitoring mechanisms, the government insists, will ensure that biodiversity is not sacrificed at the altar of development.


On the sensitive matter of displacement, New Delhi has promised “rehabilitation with dignity.” The government points to its record in connecting other marginalised regions like Bastar and parts of the Northeast to welfare and development programmes. In contrast to China’s urbanisation model, where millions have been relocated without consultation, India aspires to harmonise development with social justice. Whether this aspiration will be met in practice remains to be seen. But the pledge itself signals a recognition that the project cannot succeed if it alienates local populations.


The economic stakes are high. Nearly 60 percent of India’s seaborne trade passes through the Malacca Strait, including crucial LNG imports. By developing Galathea Bay into a world-class hub, India could reduce reliance on foreign ports, gain hard-currency revenues, and position itself as a key link in Asian supply chains. For neighbouring Southeast Asian countries wary of overdependence on China, an Indian-controlled port offers a welcome alternative.


The project’s symbolic impact may be greater still. For decades, India’s security outlook has been landlocked, focused on Pakistan and the Himalayan border with China. But the 21st century will be shaped at sea, where trade routes, chokepoints, and naval reach define global power. By pressing ahead with the Nicobar project, India signals that it understands this shift. Rather than reacting to China’s moves, it seeks to shape the strategic map itself.


Risks certainly abound. The long gestation period leaves the project vulnerable to bureaucratic inertia, political change, and funding shortfalls. Environmental safeguards, though extensive on paper, will be tested in practice. Integrating indigenous communities requires sensitivity that the state has often failed to display elsewhere. And some defence analysts question whether India, with its limited resources, can sustain such ambitious naval expansion while modernising its army and air force.


Yet, inaction is more dangerous than the risks. China’s naval build-up shows no sign of slowing. Its bases, stretching from Djibouti to Gwadar and beyond, encircle the Indian Ocean. Left undeveloped, the Nicobars would remain a weak link in India’s defence chain, a strategic gift to Beijing. The Greater Andaman-Nicobar Project, for all its difficulties, represents an assertion of sovereignty. It is a statement that India intends to be a shaper, not a bystander, in the Indo-Pacific.


If successful, the Nicobar project will leave future generations a secure bastion rather than a vulnerable frontier. Either way, the Andamans are no longer a forgotten outpost today. They form the frontline of India’s Indo-Pacific gamble.


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