This week’s headline features a story from North America:
Donald Trump’s return as the President of US presents mixed opportunities for India. India could gain from global supply chain shifts, IT outsourcing, and reduced reliance on China amid US-China tensions. However, challenges like Trump’s protectionism, currency volatility, inflation, and potential export impacts require careful monitoring of sector-specific trends and can present certain challenges for the Indian economy.
Europe: The Pinaka rocket system, developed by DRDO has attracted global interest, with France pursuing advanced talks for acquisition of the same. The rocket system has highlighted the growth potential of India’s defence manufacturing growth under ‘Make in India,’ and displays accuracy and versatility.
North America: The win of Donald Trump in the presidential election of USA presents certain challenges for India, including tariff hikes, immigration curbs, and export barriers, but also opportunities in shifting supply chains, domestic manufacturing, and reduced energy costs aligning with the goals under the Atmanirbhar Bharat
South America: On November 20, 2024, India and Guyanese leaders met in CARICOM Summit and discussed partnerships in renewable energy, infrastructure, health, and technology, emphasizing on climate resilience, food security, affordable healthcare, digital transformation, and workforce development for sustainable growth between the nations.
Asia: Foreign Minister of India, S. Jaishankar and his Chinese counterpart, Wang Yi met at the G20 Summit, acknowledging progress in resolving border tensions and military disengagement in Ladakh. They discussed on resuming peace along the LAC for normalizing bilateral ties and global stability.
Australia: India and Australia launched the Renewable Energy Partnership (REP) at the G20 Summit, focusing on solar energy, green hydrogen, energy storage, and workforce training, while strengthening ties in trade, security, and climate resilience.
Africa: Prime Minister Modi's visit to Nigeria, the first in 17 years, strengthened India-Nigeria ties in defence, trade, agriculture, energy, and healthcare services. Both leaders committed to working jointly on combating terrorism and promoting development in both the nations, and external aid to Nigeria by India.
