Ever since he was elected prime minister in May 2014, Narendra Modi has travelled abroad frequently. Apart from establishing a personal rapport with world leaders, he has prioritised three objectives — attracting foreign direct investment (FDI) into the country, engaging with the 20 million-strong Indian diaspora around the world, and raising the profile of India’s participation in multilateral and regional forums.
A strong underlying purpose of Narendra Modi’s active overseas promotion of India as an ideal investment destination is to complement his domestic agenda of economic reforms. Given the shortage of domestic resources, he needs foreign investment for an infrastructure buildout and to jumpstart his flagship programmes like Make in India, Digital India, Skill India, and Startup India. Only then can India hope to become the next growth engine of the global economy.
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