3 years, 64 nations later, what has India got from PM Modi's foreign trips

Tue, 04 Jul 2017 16:33 IST

The total outflow and inflow of foreign investment in general for 2014-15 fiscal was $6.42 billion and $75.71 billion, respectively.

3 years, 64 nations later, what has India got from PM Modi's foreign trips
During his visits, the PM also focus on his ambitious 'Make In India' policy

In the past three years, Prime Minister Narendra Modi undertook a whirlwind tour of 64 nations and is currently on his 65th foreign trip – Israel. Soon after this, he will be travelling to Germany to take part in the G20 Summit in Hamburg.

PM Modi was even trolled on the assumption that he spends most of his days abroad touring exotic places but the fact is he doing something which no other prime minister did in the past 30-40 years.

The basic concept on which the Prime Minister is working is that if a country wants to become a superpower, wants to draw investment, it will have to advertise itself because people from all over the world will not automatically come to you. You will have to convince them and this is what PM Modi is doing.

It has been proved by the fact that India received $19.78 billion foreign direct investment (FDI) from 12 countries visited by Prime Minister Narendra Modi in the financial year 2014-15.

During the period, Indian companies invested $3.42 billion in these countries which include Bhutan, Brazil, Nepal, Japan, the US, Myanmar, Australia, Fiji, Seychelles, Mauritius, Sri Lanka and Singapore.

The total outflow and inflow of foreign investment in general for 2014-15 fiscal was $6.42 billion and $75.71 billion, respectively.

PM Modi is also focusing on India's neigbourhood, considering the fact that South Asia will be a powerhouse soon. Visits to Bhutan, Nepal and other such countries are proof of it.

During his visits, the PM also focus on his ambitious ‘Make In India’ policy and this will remain one of the important topics during is ongoing Israel visit.

"We are adjusting to the 'Make in India' policy which says only local companies will win tenders, so we are setting up three joint projects in India with local companies," said Eli Alfassi, executive vice president of marketing at state-owned Israel Aerospace Industries (IAI), the country's biggest defence firm.

IAI has signed a memorandum of understanding to build missiles with India's state-run Bharat Electronics Limited, launched a joint project with Dynamatic Technologies to make drones and is scouting for a partner for a joint venture for its subsidiary Elta, which specialises in electronic warfare and communication systems, he said.

Another aspect of PM Modi’s foreign visit is that he is focusing on countries like Kazakhstan, Turkmenistan, Kyrgyzstan, Tajikistan, Uzbekistan and Mongolia about whom not many Indians are aware. This is being done because the external policy of a country like India cannot be developed solely considering power nations like Russia, China, and USA.

This is important considering the fact that India is in the midst of a disturbed neighbourhood.

The country has emerged as a power in the world under the leadership of PM Modi because he has presented himself as a reliable and strong leader. In his short span of three years, India has acquired a status of being world's fastest growing and third largest economy.

India has also jumped 16 places in the Global Competitiveness Index issued by the World Economic Forum.

During his foreign visits, PM Modi not only meets business leaders of different countries but also interact with Indian people in those countries that allow them to connect with the leader of their home country. He does so with the aim of bringing some of the smart minds that left the country back and also increase the investments from NRIs.