Raipur (Chhattisgarh) [India], April 4 (ANI): External Affairs Minister S. Jaishankar on Saturday said that India has “solidly come through” a turbulent global environment shaped by the West Asia conflict and the Russia-Ukraine war, managing both domestic and external challenges successfully.
Addressing the 15th Annual Convocation Ceremony of IIM Raipur, Jaishankar emphasized the need to “hedge, de-risk, and diversify” resources to secure India’s interests, noting that resources can increasingly be used as leverage amid shifting global power structures.
“The turbulence in the world currently is also structural in many ways. The global order is changing before our very eyes, with visible shifts in the relative power and influence of countries. The politics of some societies find it difficult to come to terms with these changes. New developments in technology, energy, military capabilities, connectivity, and resources have encouraged risk-taking in an increasingly competitive environment,” he said.
“Everything today is being leveraged, if not actually weaponized. The world is then confronted with the prospect of securing itself in an increasingly volatile and unpredictable environment. This has necessitated the need to hedge, de-risk, and diversify, whether as a business choice or a foreign policy,” he added.
Highlighting India’s outlook, Jaishankar said there is a sense of optimism in Indian society that is lacking in many other parts of the world. “The last 10 years have been much better, giving rise to the confidence that the next 10 years and those beyond will also be. We are, after all, now among the top five economies,” he said.
“No one can dispute that the multiple global shocks that have recently tested our resilience, and that India has come through them solidly. We have managed both domestic and external challenges fairly successfully,” he added.
He stressed the importance of building national capabilities to achieve the goal of Viksit Bharat 2047, while highlighting “inclusive growth, representative politics, and decisive leadership” as key drivers.
“More inclusive growth, representative politics, and decisive leadership have created a new foundation from which we can now harbor higher aspirations. We have not only embraced the digital revolution enthusiastically, but also purposefully applied it to our lives. Even many developed societies have not done so. Perhaps it is also the awakening of a can-do spirit,” he said.
“Building national capabilities has become more critical in light of global trends. We must endeavor to build and secure as many capacities within our control as possible. In some domains, this may be more difficult, and in such cases, the answer lies in reliable partnerships and diversified sourcing. But ultimately, there is no substitute for building robust national capabilities. It is the most effective way of de-risking and even developing leverage,” he added.
On the economic front, Jaishankar said India’s foreign policy is focused on expanding market access for Indian producers and promoting “Brand India.”
“Our foreign policy today is focused on expanding market access for Indian producers. It is also focused on securing resources, technologies, and essential goods. It looks after Indians traveling or living abroad, especially during moments of difficulty. It promotes Brand India,” the minister said.
His remarks come amid the ongoing West Asia crisis, which began on February 28 with U.S.-Israel strikes on Iran, followed by Iranian retaliation that has intensified regional tensions and disrupted global fuel supplies. (ANI)
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