Prime Minister Narendra Modi began a five-nation tour yesterday, heading to the United Arab Emirates before Europe, overshadowed by energy and supply-chain worries due to the Iran war.
Disruptions around Gulf shipping routes and the Strait of Hormuz continue to drive volatility in oil and gas markets, increasing pressure on energy-importing economies, including India.
But the trip also reflects India’s wider effort to diversify economic and strategic partnerships while positioning itself as a major manufacturing and technology hub.
The six-day trip, which will include visits to the Netherlands, Sweden, Norway and Italy, comes after India and the European Union sealed a free trade agreement in January, dubbed by Modi as the “mother of all deals”.
The EU has long eyed India – the world’s most populous nation – as a key market.
Modi’s visit will “deepen India’s partnership with Europe... particularly trade and investment ties in light of the recently concluded India-EU FTA”, New Delhi’s foreign ministry said.
Modi is also attending a Nordic summit in Oslo on his first visit to Norway – and the first by an Indian prime minister in 43 years – which commentators said shows growing engagement with Northern Europe.
“For India, an engagement with the Nordic countries is strategically timed to position the country as a trusted economic, technological and clean energy partner in a rapidly changing global order,” Anil Wadhwa, a retired Indian ambassador including to Italy and Poland, said.
“India stands to benefit from the diversification from China, and the recently concluded India-EU free trade agreement has already created momentum,” he added.
The whirlwind tour begins in the UAE, home to a 4.5 million-strong Indian community.
The Gulf region remains India’s primary source of oil and liquefied petroleum gas (LPG) imports, and discussions will “focus on strengthening our energy security”, New Delhi’s foreign ministry said, ahead of the visit.
Modi travels to the Netherlands to discuss increasing its €23.7bil bilateral trade last year, as well as defence, semiconductors, water, agriculture and health.
Modi heads to Sweden tomorrow, where he will address a European business leaders forum, before heading to Norway a day later to address an India-Nordic Summit. — AFP
