Page 5 - The Indian EYE 052226

COVER STORY MAY 22, 2026 | The Indian Eye 5

monarchies, Russia, the United States
and African producers.
The UAE also represents some-
thing larger in India’s geopolitical
thinking: a stable Gulf partner capa-
ble of acting as a regional anchor at
a time when tensions involving Iran
threaten wider instability.
Europe as an Economic and
Strategic Alternative
f the UAE leg of the tour was
about energy and regional se-
Icurity, the European segment is
clearly about economic resilience and
technological partnerships.
In Sweden, Modi repeatedly
highlighted the global uncertainty
created by supply-chain disruptions,
technological competition and energy
insecurity. Addressing the European
CEO Round Table organized by Vol-
vo in Gothenburg, he said, “In today’s
world marked by uncertainty, where
supply chains are under pressure,
technological competition is intensify-
ing, and both energy security and cli-
mate action face challenges, at such a Prime Minister Narendra Modi receives a guard of honor on his arrival, in Abu Dhabi on Friday. UAE President Sheikh Mohamed bin Zayed Al
time, India and Europe can join forc- Nahyan also present. (@MohamedBinZayed/ANI
es to become strong pillars of stability,
sustainability, and shared prosperity.”
This statement captured the es- green transition, startups, defense ability to external shocks. global maritime stability and openly
sence of India’s current foreign policy manufacturing, space technology and Nordic Countries and Maritime linked the Middle East crisis to inter-
approach. New Delhi increasingly sees climate initiatives. Security national shipping concerns.
Europe not merely as a trading part- Modi’s repeated references to “With the situation in the Mid-
ner but as a strategic economic coun- India’s startup ecosystem were aimed he Norway leg of Modi’s tour dle East, we completely depend on a
terweight in an unstable global order. directly at European investors. “To- reveals another major strate- strong partner like India,” she said,
India wants European investment, day, India possesses the world’s Tgic concern — maritime trade adding that India’s support for inter-
advanced technology, clean-energy third-largest startup ecosystem. Our security. The Iran conflict has reignit- national maritime law was crucial “so
cooperation, and manufacturing part- startups are creating global solutions ed fears about shipping disruptions that ships can start sailing through
nerships as it attempts to transform in AI, Fintech, Space, Drones and through the Strait of Hormuz. This is Hormuz again.”
itself into a global production hub. Mobility,” he said. why comments made ahead of Modi’s These remarks underline India’s
The emphasis on the India-Eu- The pitch is clear: India wants visit by Line Falkenberg Ollestad of growing importance in maritime geo-
ropean Union Free Trade Agreement capital, technology and innovation the Norwegian Shipowners’ Associ- politics. As global trade routes face
during the visit was especially notable. partnerships that can accelerate do- ation are particularly significant. She increasing risks, countries like Nor-
Modi said there was now a consensus mestic growth while reducing vulner- stressed the importance of India in way see India as an indispensable In-
regarding the agreement and both do-Pacific partner capable of helping
sides were endeavoring to implement maintain shipping stability.
it “as soon as possible.” For India, For India, maritime security is
the FTA has gained urgency because inseparable from energy security.
global economic fragmentation is ac- Any disruption in shipping routes
celerating. Protectionism, sanctions, affects oil imports, exports, manufac-
wars and geopolitical rivalry are re- turing and inflation simultaneously.
shaping trade patterns worldwide. Strengthening cooperation with mar-
India’s attempt to attract Eu- itime nations such as Norway there-
ropean capital also comes as many fore serves both economic and strate-
Western companies seek alternatives gic objectives.
to overdependence on China. By pre- The India-Nordic Summit in Oslo
senting India as politically stable, eco- also reflects India’s broader northern
nomically dynamic and strategically Europe strategy. Nordic countries of-
reliable, Modi is attempting to posi- fer expertise in green shipping, clean
tion the country as a central node in technology, renewable energy and
emerging global supply chains. sustainability — sectors that India
Sweden fits neatly into this strate- considers essential for long-term eco-
gy. Bilateral trade between India and nomic transformation.
Sweden reportedly touched USD 7.75 Prime Minister Narendra Modi along with Prime Minister of the Netherlands, Rob Jetten, visits Norway’s sovereign wealth fund,
billion in 2025, while cooperation is Afsluitdijk dam, on Sunday. (DPR PMO/ANI Photo) one of the world’s largest investment
expanding in artificial intelligence, Continued on next page... >>

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