That the Modi wave has engulfed India and is moving strong is no secret. But what surprised us more is that even Asian economies are being gung ho about the Indian growth prospects ever since Modi has taken over at the helms. The leaders of Asia's three biggest economies viz; India, China and Japan have crisscrossed the region this month. Be it for strategic alliance, strengthening defence ties or pursuing new business opportunities! These neighboring nations have been abuzz with lot of activity. All thanks to the dynamic leadership at the Indian throne!
India has ushered into 68th year of Independence. However, Indian infrastructure is crying out for overhaul. Mr Modi has already signaled a proactive approach in extending relations with neighbors and bonding with bigger powers. The recent China's President's visit to India is expected to be instrumental in strengthening trade links and boost the Indian infra network.
Going by the news, railways are expected to help bind India-China ties. China is already buoyant with respect to development of Indian infrastructure. India needs high speed railways and China is quite upbeat over developing the rail system in India. A new pact is expected to be signed soon between the two. It will allow China to participate in building new rail tracks, automated signaling for faster trains and modern stations for India. Something that India's British-built rail system desperately needs! Therefore, both the nations have concrete cooperation ideas in place to build the lucrative high-speed railways in India. What more? Reports say that Chinese investment in the modernization of India's railways might amount to USD 50 bn. Further, Beijing is quite keen to invest another USD 50 bn in building India's ports, roads and river-linking projects. This will not only boost the Indian infrastructure propping up economic, but also help trim a trade deficit with India. Moreover, these commercial ties will also help recede the territorial dispute that had gained prominence in recent years.
India's relations with South Asian neighbors have been poor! Lack of trust, bureaucratic issues and procedural bottlenecks in India have allowed China to outpace India for years together. Modi's strategic shift towards building bridges with other economic powers will definitely go a long way in reviving the external affairs conduct of the Indian economy. This pragmatic approach would bear positive fruits for the nation sooner than later, we reckon. It is said that Modi's foreign policy would be far more commercially and economically focused than previous governments. And we couldn't agree more. Having said so, the focus this time should be on execution more than ever. Not to forget, the expectations from the Modi government are sky high.