The Narendra Modi government recently launched a cargo ferry service to help open up the Indian market to Maldives’ exports and also provided $500 million in grants and soft loans to finance the largest infrastructure project in the island nation.
The Strategic Energy Partnership between New Delhi and Washington has emerged as one of the most important components of the larger strategic convergence between the two countries. This engagement is helping India balance the imperatives of development with the need to protect the environment.
India has been a model global citizen, a founding member of the United Nations, is the world’s fifth largest economy, is home to one-sixth of humanity and contributes more troops to UN peacekeeping missions than all the P5 countries combined. These are just some of the reasons why it deserves a seat at the global high table.
Global smartphone market leaders Apple and Samsung are eager to connect with Indian consumers. So, they are increasing their online presence in this country, a clear indication that foreign investors think discretionary spending will pick up very soon.
India has offered to negotiate and sign limited trade deals, covering a few dozen important items, with the US and the UK even as talks on comprehensive FTAs carry on. This could provide a formula for settling outstanding trade negotiations with the EU, ASEAN and other nations.
Successive progressive, industry-friendly governments, deep rooted reforms and a strong focus on far reaching labour and land reforms have helped India’s newest state emerge as a major industrial hub. This is helping India emerge as a preferred manufacturing destination for many foreign companies.
In an initiative to attract companies leaving China and to provide the world with an alternative to over-dependence on one country, New Delhi, Tokyo and Canberra are considering a deal that could change the paradigm of global trade for decades to come.