India has been officially nonaligned for many decades, but the U.S. is losing its appeal and India can be one of the poles in the emerging multipolar order. From Phil Butler at journal-neo.org:
The United States leadership is squirming to resolidify ties with parts of the world that either bombed, invaded, or marginalized in recent decades. The prime example of marginalization is India. However, without the current gigantic trade surpluses boosting Indian confidence in America, Prime Minister Narendra Modi will have to do much less tightrope-walking between Washington and the emerging multipolar world. Since the end of the Cold War, India has practiced a multi-aligned foreign policy. This may soon change.
It’s no secret that Indian businesses are raking in billions on discounted Russian crude oil. According to the latest reports, Indian refiners saved over $7.17 billion in foreign exchange in the 14 months which ended in May 2023. Russian tankers flood India’s Gulf of Kutch, home to the world’s biggest refining operation. Ironically or poetically, India then ships refined oil to markets like the European Union at a hefty value-added price. If the trend goes unchecked, India will surpass Saudi Arabia as the largest oil exporter to the EU.
