Comment on the renewed focus to strengthen India-USA ties? What are the challenges and opportunities?
The India-US Economic and Financial Partnership just conducted its ninth ministerial summit. The improvement of the global supply chain is something that both the US and India are interested in. Some nations such as China have exploited trade as a geopolitical tool.
India-US relationship:
- The strategic alliance between the United States and India is built on a set of common ideals, including support for democracy and the rule-based order of the world.
- In its efforts to preserve the Indo-Pacific as an area of peace, stability, and burgeoning wealth, the United States supports India’s growth as a major global power and a crucial ally.
- India’s top export destination and commercial partner is the United States.
- At multilateral organisations, India and the US work closely together, and the US favours a reformed UN Security Council with India as a permanent member.
- The United States, Japan, Australia, and India meet as the Quad to advocate for an Indo-Pacific area that is free and open.
Challenges:
- The perception that India is turning more and more into a closed, protectionist market economy has worsened as a result of the Atmanirbhar Bharat Campaign.
- Dispensation from the Generalized System of Preferences of the US.
- India and Russia have strong ties often.
Way forward:
India is becoming a key component in a global system that is going through an unparalleled shift. Utilizing the circumstances at hand, India must look for chances to advance its most important interests. The greater alignment of Russia with China as a result of the Ukraine conflict challenges India’s capacity to rely on Russia as a counterbalance to China. Thus, it is in both nations’ best interests to continue working together in other security-related sectors.
Topics: GS-II: India's Foreign Policy Neighbourhood International Relations