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New Delhi
“There’s an enormous amount of macro geopolitical uncertainty. The future of globalization is not going the way the companies want it to go. Politics is inserting itself into the global marketplace. The wars are a big part of that. US- China relations is a big part of it. US elections is a big part of that. And all four of those are not going well. None of them are being managed easily. And the pressures in all of these major issues are more negative. The only thing that looks stable and consistent politically is the India election. Everything else is problematic,” Mr Bremmer, the founder of the Eurasia Group, a risk and research consulting firm, said.
“We are increasingly in a multi-polar economic world and one of those poles is India”, he added. “India has established more durable relations with Europe, Japan, the United States all at the same time. That’s a value. India is a country that is trying to rise harmoniously, which is a mark of stability”, Bremmer emphasized.
Ian Arthur Bremmer is an American political scientist, author, and entrepreneur focused on global political risk. He is the founder and president of Eurasia Group, a political risk research and consulting firm. He is also founder of GZERO Media, a digital media firm.
“India is the largest democracy that is going to the ballot. India is also one of the countries with the smoothest transition. There’s not a lot of uncertainty about the legitimacy of the system. It is seen to be free and fair and transparent. And Modi who has been in power now for two terms is almost certainly going to be in power for another term on the back of pretty strong economic performance and consistent reform. That is in the grand scheme of things, a very stabilising message,” said Mr Bremmer.
Bremmer mentioned that while China’s rise has been mostly about ideologically addressing perceived grievances and its colonial past, India’s ideology is not anti-colonial though its growth story is not as spectacular as China’s.
When presented with two contrasting views, one that India’s growth is inevitable and the other that PM Modi is important for it, Bremmer replied that many countries see India as one of the most attractive stories when it comes to investments and some of that is India’s leadership, while some of that is the global environment.
