Following in the footsteps of the International Solar Alliance, a new UN-backed multilateral organisation will be headquartered in New Delhi. Less flaunted but still another feather in Modi's foreign policy cap, writes India Inc. Founder & CEO Manoj Ladwa. Flipping through Indian newspapers, a report caught my eye: the Narendra Modi government had pledged almost $70 million for setting up the secretariat of the proposed Coalition for Disaster Resilient Infrastructure (CDRI) in New Delhi. It was carried by only one, albeit major, newspaper and tucked away in an inside page. For me, though, it was as important as the election-related news that every Indian media house has been splashing across its front pages. Why, you might ask. Because this will be the second major multilateral body - after the International Solar Alliance (ISA) - to be headquartered in New Delhi. Nearly all such bodies, such as the various UN organisations, the World Bank and the IMF, are based in Switzerland or the US and more recently, as in the case of the BRICS Bank, in China. Two major new international bodies to be based in New Delhi is a massive feather in Indian Prime Minister Modi's cap and a clear signal that his much-lauded foreign policy outreach to the world at large is paying handsome dividends. The CDRI is backed, at present by 33 countries, including the UK, Australia, the European Union and multilateral bodies such as the World Bank and the United Nations. It will be formally launched in September this year at the UN Climate Summit at the UN head office in New York.