The world kept fighting and Modi made a deal worth ₹3.3 lakh crore! Story of 5 countries from where India returned rich

Prime Minister Narendra Modi has returned to India after completing his six-day whirlwind and very important foreign tour. At a time when there is an atmosphere of great tension in West Asia and the whole world is struggling with energy crisis, PM Modi made a whirlwind tour of UAE, Sweden, Norway, Netherlands and Italy.

During this marathon tour that started from May 15, India has sealed such big deals in many strategic sectors like Energy, Semiconductor, Artificial Intelligence (AI), Rare Earth Minerals and Global Trade, which will change the fortunes of the country in the times to come. According to the reports, this entire visit of PM Modi has paved the way for investment and cooperation worth more than 40 billion dollars (about Rs 3.3 lakh crore) in India. Let us understand in simple language what major benefits India has received from PM Modi’s visit to 5 countries.

PM Modi played with UAE in just 3 hours, historic partnership on oil and LPG

The first stop of Prime Minister Modi’s journey was the United Arab Emirates (UAE). You will be surprised to know that PM Modi stayed there for only three hours, but in such a short time, 7 historic agreements were sealed between India and UAE. In this, the biggest and explosive deal has been made regarding Strategic Petroleum Reserve.

Under this new agreement, UAE will create a huge reserve of 30 million barrels of crude oil on Indian soil. The most interesting thing is that the UAE government will bear the entire expense of creating this huge reserve and storing the oil. With this masterstroke, India’s oil security will become so strong that the country’s emergency oil reserve will increase for about 14-15 days.

Not only this, after this deal, India’s dependence on the sea route of ‘Strait of Hormuz’ will be greatly reduced, because now the oil will directly reach Fujairah Port through pipeline and from there will come directly to India through big ships. Along with this, playing another big bet in the field of energy, a partnership has been formed between Indian Oil Corporation and UAE’s giant ADNOC, so that the supply of LPG in India remains uninterrupted 24 hours a day. Let us tell you that even today India imports about 40 percent of its domestic LPG requirement from UAE. Apart from this, UAE has also announced a separate investment of 3 billion dollars in India.

‘Chip’ got superpower from one and a half hour visit to Netherlands, now the pride of Taiwan-China will be shattered

PM Modi’s visit to Netherlands may have lasted only for one and a half hour, but in this short time, not one or two but 17 MoUs were signed between the two countries. The biggest success of this tour has been achieved in the sector of semiconductor i.e. chip manufacturing. A final agreement has been reached between ASML, the world’s most famous chip machine manufacturing company of Netherlands, and India’s Tata Group to set up a high-tech chip manufacturing plant in Dholera, Gujarat.

At present, India is dependent on imports from other countries for about 90 percent of its chip needs. Due to this big deal, India’s dependence on China and Taiwan in the electronics and automobile sectors will be on the verge of ending forever. Besides, a major agreement has also been reached between the two countries on strengthening the supply chain of rare earth minerals.

New formula for trade with Sweden, European goods are going to be tax free

On his third stop, Prime Minister Modi landed on the soil of Sweden, where deals on 6 very important agreements between India and Sweden were finalized. Both the countries together have set a big target that bilateral trade will be doubled within the next five years.

Along with this, there has also been a very positive discussion regarding the much awaited Free Trade Agreement (FTA) between India and the European Union (EU). Experts believe that if this historic agreement is implemented, then about 96.6 percent of the products coming to India from Europe can become completely tariff free, which will greatly benefit the Indian markets.

Indian PM reaches Norway after 43 years, talks about green energy and gas

Prime Minister Modi’s visit to Norway was very historic from the point of view of Indian diplomacy, because after a long wait of 43 years, an Indian Prime Minister had reached Norwegian soil. A total of 12 MoUs were signed between the two countries during this visit.

India and Norway together agreed on ‘Green Strategic Partnership’ and prepared a roadmap to increase huge investment in clean energy sector. Since Norway is counted among the largest oil and gas producing countries in the entire Europe and after the Iran crisis, India has significantly increased the import of LPG from Norway, hence both the countries have joined hands to further strengthen this energy cooperation.

Modi’s pairing with Meloni in Italy, seal fixed on AI and Super Corridor

In the last and most talked about leg of his marathon tour, PM Modi reached Italy, where he met Italian Prime Minister Georgia Meloni. During this meeting, major decisions were taken between the two countries regarding Artificial Intelligence (AI) technology and IMEC (India-Middle East-Europe Economic Corridor).

IMEC is an ambitious project to directly connect India, the Middle East and Europe through rail, port and shipping networks. It is being considered as the biggest global trade corridor of the coming future which will give direct competition to China’s Belt and Road Initiative. With this, India and Italy have set a big target of taking their bilateral trade to a record 20 billion euros by the year 2029.

Why will this tour prove to be a boon for India in this time of crisis?

This five-nation tour of PM Modi has taken place at a critical time when the whole world is going through a fierce war, energy crisis, supply chain breakdown and serious geopolitical tension. Amidst such a difficult global environment, the strategic maze that India has created in collaboration with the powerful countries of the world on the fronts of oil security, semiconductor manufacturing within the country, advanced AI technology, clean green energy and global trade, has made India’s economic and diplomatic position on the world stage many times stronger than before.