India has made huge efforts to grow relations within Asia, showing remarkable maturity in policy. Some examples:
- Free Trade Agreement with Thailand signed last year
- Free Trade Agreement with ASEAN to be signed by year end
- Open Skies agreement allowing unlimted flight with South East Asian countries
What does this mean for the world? We already know that Asia is an incredibly low cost place to live and produce goods. It has great weather year round and generally provides a fabulous lifestyle. One only has to visit Bangkok, Phuket, Kula Lampur and Dubai to see the huge number of European expats who have made these places home. Soon, other Asian cities will improve their infrstructure and attract more & more expats. Did you know there are over 65,000 Americans living in India? And 3 months back I read a Business Week story that carried a survey showing that over 2 million Brits wanted to buy a home in Asia.
What has so far been a minor trickle is bound to become a flood. I predict that we are going to see massive migration of people from Europe to the Asian region starting now and continuing for alteast 40 years. This will make Asia the global leader in talent.