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- Meanwhile, India is the world’s second-largest weapons importer after Ukraine.
- Age-adjusted rates, shown in blue, also account for the fact that countries have older populations today; we can see that the fully age-adjusted rate has actually fallen by more than 20%.
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At the same point in its development, China’s per-capita oil consumption for road transport was about 60% higher. As a result, Bond said India’s road-transport oil demand per person may never reach Chinese levels. When Modi first took office in 2014, his government praised China as an essential partner for India’s growth and development. But as China took a more assertive foreign policy position in the following years and continued growing its expansive BRI, India began to worry about China’s global aspirations.
It added that global foreign direct investment reached an estimated USD 1.6 trillion in 2025, a 14 per cent increase. India’s economic strategy requires selective engagement rather than exclusion. Chinese FDI and manufacturing linkages can support India’s export growth, technology absorption, and supply chain resilience. A calibrated, security-screened investment framework aligns better with India’s long-term industrial objectives than blanket restrictions.
India has also been one of the benefactors of “friendshoring” efforts begun under the Joe Biden administration, which sought to shift global supply chains away from rivals and toward partners. The 2022 CHIPS and Science Act created a $500 million fund to invest in India’s semiconductor industry, but the benefits of friendshoring for both countries will take time to materialize, experts say. China and India also separately possess strong military and economic ties with Russia, even after its 2022 invasion of Ukraine. India deters Chinese aggression by responding to Beijing’s provocations and strengthening its relationships with other countries also wary of China’s growing military strength. New Delhi has boosted its defenses along its shared border with Beijing, committing $24 million to upgrade its airfield in the disputed areas in 2023. As part of its multi-alignment strategy, India has developed strategic partnerships with more than thirty countries, including a “special and privileged strategic partnership” with Russia.