After Independence, India has developed natural bonding with few countries and rest could bond well on business terms
According to the current projections, India will produce about seven percent of global growth in 2016 and this is only possible with good strategic and business relations. Here are few countries which play crucial role in india’s growth.
Japan has emerged as a solid game changer for India in infrastructure growth. Look at the number of ambitious infrastructure projects that the Japanese have not just been financing but also imparting their technical skills to make these happen. Delhi Metro Rail project was the first to have started with the Japanese financial and technical assistance over a decade ago. Now the Delhi Metro example is being emulated by over thirty Indian cities! Apart from that, Japanese companies like Suzuki, Toyota, Honda and Sony have poured crores of rupees in India
The former superpower has been tried and tested strategic and business partnership with India for decades. Russia is India’s largest arms exporter. Import and export of defence and nuclear power equipment, fertilizers, electrical machinery, steels and diamond helps grow Indo Russia trade. India-Russia cooperation in the field of peaceful uses of outer space dates back to about four decades.
United States of America
The United States and India share a strong and growing commercial and economic relationship, driven by entrepreneurs and busimesses in both countries. Both governments are advancing priorities of generating economic growth, creating jobs, and strengthening the middle class. Multiple engagements in recent years have helped advance cooperation on bilateral trade objectives, with the goal of achieving substantive results. Both nations have launched a joint work stream on the Ease of Doing Business to focus on a number of issues that would increase bilateral trade. Efforts of the Harvard Business School and the Indian Institute of Management Ahmedabad to develop a cluster mapping tool will help US and Indian companies integrate into global supply chains and strengthen India’s economy and investment.
India, which is 79 percent dependent on imports to meet its crude oil needs oil needs and in a first of its kind deal, UAE’s national oil company Abu Dhabi National Oil Company (ADNOC) has agreed to store crude oil in India’s maiden strategic storage facility and give two-third of the oil to it for free. This is certainly not possible without good relations between these countries. In 2008-13, India emerged as one of the biggest trade partner of the UAE with bilateral trade between the two countries. UAE and India are one of each other’s largest trading partners. Today, as India accelerates economic reforms and improves its investment and business environment, and UAE becomes an increasingly advanced and diversified economy, the two countries have the potential to build a transformative economic partnership.
With increasing presence of chinese products in Indian market, we have to give up invasive hatred attitude towards Chinese and improve relations between two countries. Chinese exports to india are fairly diversified and includes resource-based products, manufactured items and low and medium technology products. India needs to emphasis on investments and trade in services and knowledge-based sectors to capture Chinese market.