Water is a point of friction on the Indian subcontinent and fears of looming �water wars� are growing. One factor compounding such fears is the presence of a hydro-hegemon; India. Power asymmetry between riparians, however, does not necessarily lead to violent conflict (even though it can create inequitable outcomes). Indeed, the presence of a hydro-hegemon serves as a stabilising factor. This is currently the case in South Asia. Understanding the flows of power in transboundary water interactions in the region is of consequence to Australia�s increasing involvement in the hydropolitics there