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Make in India: opportunity for India and European Union

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Author: 
Uday Pratap Singh
Abstract: 

Europe has emerged as an important destination for cross-border investments and overseas acquisitions for Indian companies. Similarly, collaboration in research and innovation has expanded significantly. As economic and development issues become a priority within the Indian government’s foreign policy under Prime Minister Modi, the EU can become a focus area of engagement for India, as was apparent from Prime Minister Modi’s recent visit to Europe. He assured investors that ‘India is now a changed country’ and its ‘regulatory regime is much more transparent, responsive and stable’. It shows that strong political leadership and commitment can bring dynamism to the relationship. The outcome of this official visit (20 agreements with France, EUR 2 billion outsourcing commitment by Airbus) illustrates that the Indian Government is looking at a European contribution and participation in the ‘Make in India’ programme in terms of resources and technology, defence and railway modernisation as well as renewable energy.