Best of BS Opinion: Rethinking China policy and global alignments

Here are the best of Business Standard's opinion pieces for today

Our first editorial today focuses on India’s approach to Chinese investment under Press Note 3, introduced in 2020 after border tensions. While countries such as Australia and Japan have moved towards clearer economic security frameworks, India continues to rely on broad geographic restrictions with selective relaxations. The government has quietly allowed certain Chinese suppliers to support Apple’s manufacturing ecosystem, but these case-by-case exemptions expose the absence of a transparent policy. The editorial argues that a structured, sector-specific negative list could offer clarity while safeguarding national security. 

Meanwhile, India’s partnership with France shows signs of deepening following President Emmanuel Macron’s visit. The relationship, now elevated to a Special Global Strategic Partnership, includes defence industrial collaboration and technology transfer, highlights our second editorial. A potential $40 billion agreement for 114 Rafale jets could become India’s largest defence purchase, with substantial domestic manufacturing and at least 30 per cent indigenous content. These steps build on the Horizon 2047 roadmap and coincide with India’s broader trade negotiations with the EU and the United States. 

 

MS Sahoo and Raghav Pandey analyse the Supreme Court’s February 13, 2026 ruling in SBI versus Union of India. By holding that spectrum is a natural resource held in public trust and cannot form part of a telecom company’s insolvency estate, the court has limited how distressed firms can be resolved under the Insolvency and Bankruptcy Code. The authors argue that the judgment strengthens the Public Trust Doctrine but raises concerns about creditor protection and the viability of resolution plans. If licences cannot be treated as economic assets during restructuring, liquidation may become more likely, potentially leaving valuable spectrum idle. 

And Amit Kapoor examines the Economic Survey’s assessment of India’s urbanisation. Cities generate over 60 per cent of GDP and could account for nearly 70 per cent by 2036, yet productivity gains remain constrained by weak municipal finances, fragmented planning and infrastructure gaps. While metros such as Gurgaon show strong clustering effects, Tier-2 cities like Coimbatore, Indore and Ahmedabad appear better positioned to combine scale with liveability. Land-use reform, empowered local governance and stronger fiscal capacity are essential to translate urban growth into sustained competitiveness. 

Finally, Chintan Girish Modi reviews Island on Edge: The Great Nicobar Crisis, edited by Pankaj Sekhsaria, in the context of NGT’s dismissal of petitions against the Great Nicobar Island Development Project. Backed by Niti Aayog and estimated at Rs 81,000 crore, the project includes a transshipment terminal, airport and township. Authors warn of large-scale rainforest loss, carbon emissions and risks to indigenous communities such as the Nicobarese and the Shompen. Modi notes that the debate reflects a broader tension between strategic infrastructure goals and ecological safeguards, with long-term consequences that extend well beyond the island. 

Stay tuned!