India's Economical Diplomacy Since 1990s

After its independence in 1947, India has put forward an inward strategy for developing its economy. A slow development of international trade (caused by certain negative factors) caused negative influence to the healthy development of its economy. In the early 1990s, an economical crisis broke out in India. This is illustrated by India's then 1 billion dollars foreign currency reserve, which means a payment to its imports of just one week.For relieving its trouble in economy, India carried out its reform and opening-up under the assistance of certain international economical organizations. An outward strategy for developing its economy is adopted by India. For expanding its export, attracting capitals and technologies it needs, India has to building stronger economical ties with other nations. An active economical diplomacy since 1990s is proven to be unavoidable for India's ambition for a stronger economy.India's comprehensive global economical diplomacy comprises a stronger economical ties with the developed western countries (which is the focus of India's new strategy), the recovery and further development of its economical tie with Russia, closer ties with the developing countries, more active regional or sub-regional economical cooperation. Thanks to great achievements of its new strategy, a much faster growth of India's economy and a much stronger comprehensive national power came into being. This, however, aroused great attention around the world to India's economical diplomacy.