Europe eyes India’s economic opportunity

PRIME Minister Narendra Modi has pledged to make India a developed nation by 2047. However, many of his international allies are targeting a significantly shorter-term time frame of May 2029, the latest date when the next elections for the Lok Sabha, or Lower House of parliament, must be held.

With potentially around four years left in office, Modi now has a relatively short but still-substantial political window of opportunity to try to deliver on his 2047 economic vision (Viksit Bharat 2047). This includes the possibility of trade deals with other key markets across the world, including in the West.

In the United States, President Donald Trump would welcome a big trade deal with Modi. However, Europe too is pushing hard for agreements, including the 27-member European Union and post-Brexit United Kingdom.