Abstract
Economic diplomacy builds bridges among countries and is an integral part of India’s foreign policy. India’s economic diplomacy in the form of development partnership is primarily demand-driven and guided by the priorities of host countries. Economic diplomacy is defined as an array of activities through which international economic relations are pursued between countries. In an ideal condition, the act of economic diplomacy refers to a set of economic activities being utilized between two or more partner countries through free trade agreements (FTAs), trade and investment promotion, training and capacity building, facilitation of connectivity projects, among others. India is at the forefront of economic diplomacy. India has had a rich trend in economic diplomacy since 1947 starting with Prime Minister Nehru. In this paper, we analyze the trends in India’s journey in economic diplomacy, discuss some of the challenges and present the way forward. India’s main challenges are primarily divided into three categories: (i) resources and initiatives, (ii) external competition; and (iii) integration plans. India has come a long way in establishing a stable economic diplomatic source for the world, the foundation of which was laid down by PM Nehru and PM Modi has taken it to a higher level.
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