In what can be called as a strategic win for the US President Donal Trump, Prime Minister Narendra Modi on Wednesday made a strong pitch to the American companies. Claimed to be an effort to divert its business chains from China, Modi invited the US companies to invest in India’s healthcare, infrastructure, defence, energy, farm and insurance sectors.
Addressing the India Ideas Summit organised by the US-India Business Council (USIBC), Modi emphasised that the best time to invest in India’s agricultural sector is “now”. “US-India friendship has scaled many heights in the past. Now it is time our partnership plays an important role in helping the world bounce back faster after the pandemic,” he added.
While the country’s supremo claims India to have the most resilient financial system, political analysts have a different story behind the mega pitch. It can be noted that though India has had balanced ties with all supreme nations, it didn’t have any country clearly behind it.
However, the recent border clashes with Chine seems to force India to have strong backing especially from the country like America which is equally against China. In 2019 the U.S. approved the largest defence deal between the two countries in four years when it confirmed the sale of $1 billion in naval guns to India. A $3 billion in defence deals were also signed between the countries on February while more are promised to be made.
Political and financial circles are rife with speculations that Modi is left with no other choice except for joining hands with the U.S which is also seeing the nation of 1.3 billion as a powerful counterweight to China.