Narendra Modi, who spent nearly two months abroad in his first year as prime minister, helped India cultivate a wide range of bilateral and multilateral relationships. But of these, it will be the middle powers that hold the key, economically and geopolitically to India’s growth and security, and Modi must continue to widen his middle powers arc
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With the Eurozone portion of Greece’s $276 billion bailout credit expiring on June 30, Europe is in the midst of a standoff over this unsustainable debt. But it is only the latest in a number of Eurozone crises since 2008, and if the prospects for economic growth remain dim, how will the EU address its interlocking problems?
Conjecture about a Rosneft-Essar deal shows how the oil market dynamics have shifted in the past few years. Just as supply security is important to oil buyers, demand security is crucial for oil suppliers. Buying refining and marketing assets in big markets like India is the route to demand security for Russia, whose economy depends on petroleum exports.
In the exceptionally divisive general election on May 7 in the UK, no party is expected to win a majority. Smaller parties like the SNP are fragmenting votes and another coalition may emerge, or the Conservatives-Liberal Democrats or Labour may seek outside support. With the Scotland issue adding to the divisiveness, the post-poll scenario is precarious
The French media’s reportage of Modi’s recent visit to France was limited but significant, and inevitably a lot of it was about the Rafale deal. Various other issues were covered, including the nuclear reactor project in Jaitapur. Some newspapers recommended that France must heavily invest in India, while some expressed concerns, but on the whole the coverage has generated enthusiasm
UK may be on its way to becoming a petro state, again, on back of an oil discovery that may be a whopping 100 billion barrels. The world is awash with cheap energy, and Indian companies need to seize the opportunity to acquire upstream energy assets.
Germany is a crucial partner for India, especially for the Make in India programme. The needs and strengths of both countries are complementary: in India, German companies are among the largest employers, and Germany is the second largest destination for Indian investment in Europe. India needs to develop and enhance the skill of its population, and develop an advanced manufacturing base. For this, a new level of collaboration is required.
The France-India relationship must not be overshadowed by the Rafale deal. Modi’s visit can be the opportunity to add fresh energy in the economic relationship by harnessing economic complementarities
Germany’s Mittelstand or medium and small companies are the heart beat of Germany’s successful economy. They will be showcased at the Hannover Fair, which Prime Minister Modi will inaugurate on April 12. It can be the perfect blueprint for his Make in India effort.
With the EU, Iran, and other entities taking decisive steps on April 2 to ensure a non-nuclear Iran, President Obama must now counter interests in the U.S. that want to stymie the final agreement. But having come this far, and considering the comprehensive benefits of an agreement, all sides are sure to deliver