INDIA CHINA Connect

Indian cuisine became an unexpected highlight at Davos alongside WEF meetings. Akshaya Patra Foundation’s khichdi drew long queues of global delegates, offering warmth in freezing Swiss weather. Samosas and pakoras were also popular. Social media buzz around the food reflected India’s growing cultural visibility and expanding economic influence on the global stage.

The India–EU FTA provides zero-duty access, aiming to double gems and jewellery trade to $10 billion within three years. Eliminating 2–4% tariffs strengthens India’s competitiveness in the EU’s high-value market. The agreement benefits major export hubs and diverse jewellery segments, supporting employment, improved margins, and broader market diversification for Indian exporters.

India has reduced its US Treasury holdings to a five‑year low of about $174 billion, down 26% from 2023. Treasuries now make up roughly one‑third of foreign reserves, compared with 40% a year earlier. The RBI is diversifying into gold and non‑dollar assets amid geopolitical and sanctions risks, while sales also help support the rupee during trade tensions and high US tariffs.

The UK’s first national Hindu NHS Network has been launched to support Hindu staff and improve culturally sensitive patient care. It addresses gaps in faith representation and understanding, promotes Hindu chaplaincy, prayer spaces, end‑of‑life care, and appropriate vegetarian food, and seeks to empower staff through visibility, leadership opportunities, career development, and fair workplace practices across the NHS.

Minhaz Merchant’s *Era of India* argues global power is shifting back to Asia after four centuries of Western dominance. The book frames 2050 as an age of transformative technology and geopolitical change, reassesses Western progress alongside colonial violence, analyzes China’s rise and constraints, and presents India as a distinctive, non‑colonial model of global economic ascendancy.

India has become the second-largest overseas source market for US tourism, with travel volumes 40% above 2019 levels. Over two million Indians visited the US in 2025, marking a second year of strong recovery. Major 2026 events such as the FIFA World Cup and the US 250th anniversary are expected to boost growth further. India is also the second-highest spending market, delivering significant economic value to US tourism.

The historic India–EU FTA, concluded after two decades, strengthens ties amid global trade uncertainty. It grants duty‑free access on over 99% of Indian exports, boosting labour‑intensive sectors and MSMEs. The pact expands access to the $20‑trillion EU market, benefits major states, enhances services trade, mobility, jobs, and Make in India, while reinforcing a rules‑based global trade order.

China is shifting from reliance on dollar dominance toward building a parallel, sanctions‑resistant financial system. RMB internationalisation is gradual, avoiding full convertibility to limit risks. The strategy reduces dollar exposure through lower US Treasury holdings and higher gold reserves while opening equity and bond markets to deepen foreign dependence. India can draw lessons on managing currency risk and pursuing bond index inclusion.

Antonio Costa attended the India–EU trade deal signing in New Delhi, combining diplomacy with personal heritage. At the 16th India–EU Summit, he highlighted his OCI status, earning appreciation from Prime Minister Narendra Modi. Costa’s Goan roots, traced through his father Orlando Costa, add a personal and cultural dimension to strengthening India–EU relations.

AI could add nearly $550 billion to India’s economy by 2035, supporting long-term growth. Sectors such as agriculture, healthcare, energy, education, and manufacturing stand to benefit most. AI can raise farm productivity for small farmers, improve healthcare access, enhance manufacturing competitiveness, and boost energy efficiency. PwC emphasizes ethical, inclusive, and scalable AI adoption to ensure sustainable and equitable development across the economy.