Whalesbook
India is actively pursuing a strategy of economic diplomacy to build a peaceful, multipolar global order and achieve its 'Viksit Bharat 2047' vision. Instead of rigid blocs or protectionism, India is prioritizing stability, dialogue, and cooperation to strengthen economic ties worldwide.
India's Strategy for Global Cooperation
Drawing on its history as a voice for the Global South, India believes economic ties foster lasting peace. It uses platforms like the G20 for dialogue, even when bilateral relations are strained. India aims for these engagements to be developmental and reform-focused, working alongside existing global structures. When India takes over the BRICS Presidency in 2026, it plans to focus on digital public infrastructure, clean energy, resilience, and reforms to multilateral systems.
Key Trade Deals Driving Interdependence
Trade is central to India's vision of peace through economic ties. The country is pursuing a multi-pronged approach involving the G20, WTO, regional groups like BIMSTEC and IPEF, and bilateral Free Trade Agreements (FTAs). Key upcoming deals include an EU-India FTA in January 2026, a US-India interim agreement in February 2026 that will cut tariffs from 50% to 18%, and an FTA with New Zealand by December 2025. This diverse trade strategy aims to reduce risks and integrate India more deeply into global supply chains for greater predictability and shared growth.
Boosting Industry and Development Finance
India sees a strong link between stability and development. Its industrial cooperation efforts focus on improving productivity, manufacturing, and sustainable practices, especially for small and medium-sized enterprises (MSMEs). Supporting MSMEs helps boost domestic growth and regional stability by tackling inequality and job pressures. India is also working with development finance bodies to align investments in infrastructure, renewable energy, and urban projects with national goals, enhancing climate resilience and regional balance. The aim is a global growth model that is more resilient and less divided.
Leveraging Diaspora and Digital Tools
With over thirty million members worldwide, the Indian diaspora serves as a key source of soft power, driving trade, investment, and technology transfer through its extensive networks. India is also promoting digital public infrastructure, advocating for interoperable and inclusive digital systems that encourage cooperation. Partnerships in areas like artificial intelligence, space, and clean technology are boosting India's reputation as a responsible global player, balancing innovation with strategic competition. Ultimately, India's vision for 'Viksit Bharat 2047' is to be a developed nation actively contributing to global peace and stability through ongoing cooperation.