Find out the Top 10 Friends of India. You've come to the correct place, then. India now maintains economic and corporate friendships with many nations. A strong economic tie between nations is partly maintained through the financial connection. India is now one of the top investment destinations for company entrepreneurs.
In line with PM Modi's "Atmanirbhar Bharat" mission, many Indians work to establish their brands across all conceivable industries. This makes India the ideal venue for investors from around the globe to make investments. Maintaining positive connections with foreign nations is now more crucial than ever following the outbreak.
1. Russia
Inclusion in scientific, commercial, cultural, and economic activities is the government's main focus in these two nations. President Vladimir Putin received a video message from PM Modi in 2021 presenting his economic outlook. President Putin warmly welcomed that message.
He was also inspired to implement that statement's message into action. Around $4 billion has been spent by Russia in the Indian economy, particularly in the BPO sector and the car industries. At the same time, India has made over USD 8 billion in investments in the Russian market, largely in energy projects. Both governments are taking the initiative to invest in more industrial areas.
For example, some of these include infrastructure, fertilizers, nuclear power plants, coal, and medicines. They should be included on the list of India's best friends.
2. USA
India's closest ally has traditionally been the United States. With each passing year, the bond between India and the USA has grown stronger. They both supported the principles of respecting human rights, treating all citizens equally, and applying the law fairly.
Fair and equal exchanges had a place between India and the United States regarding their commercial interests. In 2019, they traded with each other for almost $149 billion. The US economy benefits from Indian students studying in American colleges. To establish strong links in the US market, US company Walmart has suggested that Indian businesses use their platform.
President of the United States, Joe Biden, visited India following the lockdown and pledged to purchase more goods from India than from China. Increasing India's commercial output and market share in the USA as a result.
3. Japan
Japan is one of India's greatest friends since the two countries retain spiritual ties in addition to conducting business and exchanging technologies due to Buddhism's expansion in Japan.
Along with commercial partnerships, they began to share cultural ideals. India has helped Japan in overcoming the damage caused by World War II.
Japan then began to lend money in yen to India. Prime Minister Kishida and Prime Minister Modi recently spoke on the "Free and Open Indo-Pacific" approach.
Both of these nations generated $17.63 billion in bilateral trade in 2019. India exports various goods to Japan, including fish and fish, apparel and accessories, textiles, iron and steel, chemical components, textile yarn, and petroleum products.
While Japan supplies India with non-ferrous metals, organic chemicals, electrical equipment, etc., PM Modi is currently concentrating on developing "digital ICT technologies," which were introduced in 2018 in collaboration with Japan.
4. Israel
India and Israel cooperate closely in the areas of military and agriculture to achieve prosperity in the future. This partnership has been developing since 2014
because Prime Minister Modi has made diplomatic moves with Israel. India's defense was boosted after purchasing Raffael and other defensive equipment from Israel.
Israeli Prime Minister Naftali Bennett works with India's government to implement the most recent agricultural innovations.
As a result, the agricultural department of India and MASHAV from Israel have partnered on the 30 Centers Excellence Project. In India, this strategy has benefited roughly 1.2 lakh farmers. Future developments will result in a stronger relationship.
5. Afghanistan
Due to their geographical closeness, India and Afghanistan have interacted for a long time. In 2020, the nations exchanged $1.5 billion worth of products.
The only challenge is trading through Pakistan. There are new initiatives to make trading more convenient. Influenced by President Ashraf Ghani in 2017.
Both countries jointly established the Air Freight Corridor. Following the air corridor, Afghanistan's Chabbar port demonstrated its capability by sending 700 tonnes of cargo to India.
India used to give agricultural help to Afghanistan through this port. Both nations desire to work together and help those in need.
6. Bhutan
Bhutan and India both have an interest in the growth of Southeast Asian nations. Over the past year, there has been an increase in the volume of trade between these two nations. Bhutan's PM Lotay Tshering and India's PM Modi spoke about enhancing economic routes in both nations.
For improved business. In addition to modifying customs and tax-related laws, they want to do likewise concerning routes.
The adjustments will facilitate easy border trading. India is essential to Bhutan's prosperity, as well. India provided financial support to Bhutan for several development schemes. They are currently concentrating on developing new trade regions for investors.
7. Myanmar
Indian and Burmese people are similar to each other in terms of their ancestry and culture. The relationship suffered for a while, but things have changed since 2016 as it has gotten better.
The Indian government sees Myanmar as a commercial entry point into other East Asian nations. India does not, however, give business importance.
However, it also improves interactions on a more general level. Associations from both nations are working to build markets, railroads, and shipping facilities along the border.
President Win Myint also expressed a desire to expand trade in the energy and health industries. Typically, India invests in the oil and gas industries.
Indian investors would soon be attracted to the food processing and renewable energy industries.
8. The Maldives
This little island country in the Indian Ocean is crucial to India's worldwide economy. Due to the location's geography.
On the water, it functions as a "toll plaza." These two countries' citizens have similar linguistic, cultural, and economic interests.
India always steps up to support our country in whatever form, whether it's a major natural disaster or a time of need.
PM Modi is taking further steps to improve relations between the two countries now that President Ibrahim Mohamed Solih is in charge.
India provided the Maldives with $1.4 billion in financial help in 2018 and expressed confidence in the well-being of the Maldivian people. With Maldives becoming a popular tourist destination, many more people have opportunities.
Some individuals travel there from India, while others get suitable employment and settle down.
9. Srilanka
A strong commercial relationship exists between India and Sri Lanka. Development in health, transportation, education, infrastructure, and industry are all part of their economic activities.
Many Indian businesses mostly participate in the tourist, finance, telecommunications, and retail of petroleum sectors in Sri Lanka.
While Sri Lankan investors, thanks to President Gotabaya Rajapaksa's influence, provide a distinctive perspective to India's logistics and freight businesses.
Sri Lanka's finance minister went to India to look at the tourist business from a different perspective. India provided all possible support to this neighboring country during a difficult epidemic.
10. Australia
Both of these nations seek to expand their overall economic relationship. The seventh-largest trading partner of Australia is now India.
Similarly, Australia has emerged as one of India's top export destinations. India imports medicines, refined petroleum, pearls, and diamonds while exporting gold, coal, and copper.
Australia boasts top-notch educational resources. They provide Indian students with educational opportunities and modern teaching techniques.
The progress in clean energy, space, education, essential minerals, and many other areas will be refueled by this investment.
Scott Morrison, the prime minister of Australia, suggested investing INR 15 billion in India during the 2021 virtual summit between PM Modi and PM Morrison.
The Conclusion
Along with commercial methods, India has cultural connections with many of its friends. India has developed strong relationships with nations like the USA and Jamaica despite its geographical location.
India's growing economic potential opens up investment opportunities. Leading businesses are looking for entry points into this sector as a result.