Top 10 Friends of India in 2023
In the business and corporate sectors, India currently has friendships with many countries. The financial connection contributes to the maintenance of a strong economic bond between countries. At the moment, India is one of the most popular investment destinations for entrepreneurs. Here is the list of countries that shares a good bond with India.
India and the United States exchanged fair and reciprocal business interests. In 2019, they shared approximately $149 billion in bilateral trade. Indian students studying at American universities contribute to the economy of the United States. Walmart in the United States has proposed that Indian retailers use their portal to connect with wells in the United States. Following the lockdown, US President Joe Biden visited India and promised to buy more goods from India than from China. As a result, India's business production and market area in the United States will grow.
Both India and Bhutan are interested in the development of Southeast Asian countries. In the last year, bilateral trade between these two countries has increased. Bhutan's PM Lotay Tshering and India's PM Modi discussed expanding trade routes in both countries. To improve business. Not only are they changing routes, but they are also changing some customs and tax regulations. The changes will make it easier for traders to cross borders. Bhutan's development is also heavily influenced by India.
India and Japan not only share business and technologies, but they also have spiritual ties, making Japan one of India's best allies. As a result of the spread of Buddhism in Japan. They began to share cultural values as well as trade alliances. Both of these countries made $17.63 billion in bilateral trade in 2019. India exports fish and fish products to Japan, as well as clothing and accessories, fabrics, iron and steel products, chemical elements, textile yarn, and petroleum products. While Japan exports nonferrous metals, organic chemicals, and electrical machinery to India. PM Modi is now concentrating on the expansion of "digital ICT technologies," which were launched in collaboration with Japan in 2018.
India and Israel share a lot in terms of defence and agriculture in order to thrive in the future. This relationship has been evolving since 2014. Because of Prime Minister Modi's diplomatic strategies with Israel. Purchasing Raffael and other defence equipment from Israel strengthened India's defences. PM Naftali Bennet of Israel is also involved in the incorporation of cutting-edge agricultural technologies in India.
Because of their geographical proximity, India and Afghanistan have traded for many years. In 2020, both countries will trade $1.5 billion. The only issue is that trade must go through Pakistan. New initiatives are being implemented to make trading more convenient. In 2017, President Ashraf Ghani exerted influence. Both governments worked together to establish the Air Freight Corridor. Following the air corridor, Afghanistan's Chabbar port demonstrated its strength in transporting 700 tonnes of goods to India.
Inclusion in scientific, trade, cultural, and economic activities is of critical importance to the governments of these two countries. In 2021, Prime Minister Modi sent President Vladimir Putin a video message outlining his economic vision. That message was eagerly received by President Putin. And was also encouraged to put that message's idea into action. Russia has made approximately USD 4 billion in investments in the Indian market, primarily in the BPO and automobile sectors. While India has invested approximately USD 8 billion in the Russian market, the majority of this money has gone into hydrocarbon projects.
In ethnic and cultural terms, Indians and Burmese are similar. The relationship was hampered for several years, but it has been improving since 2016. The Indian government sees Myanmar as a commercial gateway to East Asian countries. However, India prioritises more than just business. However, it also improves relations in general. Associations from both countries are attempting to establish border market areas, railways, and shipping ports.
This small island country in the Indian Ocean is important to India's international business. Because of its geographical location, it functions as a "toll plaza" on the sea. These two countries' peoples share common interests in language, culture, and economic means. India is always willing to assist this country in any way it can, whether through natural disasters or defence. PM Modi is now taking additional steps to strengthen the relationship between the two countries under President Ibrahim Mohamed Solih.
India and Sri Lanka have a strong trading relationship. Their economic activities include health, transportation, education, infrastructure, and industrial development. Many Indian firms invest in the Sri Lankan market, primarily in tourism, finance, telecommunications, and petroleum retail. While Sri Lankan investors bring a fresh perspective to India's logistics and freight sectors.
Both of these countries are attempting to broaden their economic ties. The country of India is Australia's seventh-largest trading partner. Similarly, Australia has emerged as one of India's most important export markets. India exports gold, coal, and copper while importing medicines, refined petroleum, pearls, and precious stones. Australia has world-class educational facilities. As a result, they provide educational programmes and modern teaching methods to Indian students. This investment will refuel growth in areas such as clean energy, space, education, critical minerals, and many others.
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