Jaishankar: Politics is Now Dominating Economics, Urges India to Strengthen Supply Chains
On Saturday, External Affairs Minister S. Jaishankar highlighted a significant shift in global dynamics, stating that “politics increasingly trumps economics.” He emphasized that it is crucial for India to diversify its supply chains to protect its national interests.
Jaishankar made these comments after being awarded an Honorary Doctorate from IIM-Calcutta. He pointed out that in today’s uncertain global landscape, countries must enhance the reliability and resilience of their supply networks.
He noted that the United States, which has historically supported the international economic framework, is now setting “radically new terms of engagement.” This change, he explained, involves dealing with countries on a more individual basis rather than through multilateral agreements.
Jaishankar also addressed concerns regarding China, stating that it has always adhered to its own set of rules, contributing to global unpredictability. He remarked that nations are increasingly preparing for uncertainties caused by geopolitical tensions, disruptions in supply chains, and climate change.
In light of these challenges, Jaishankar reaffirmed India’s commitment to self-reliance and its goal to become a major manufacturing hub. He stressed that a powerful nation like India needs a strong industrial base, pointing to the government’s ‘Make in India’ initiative as evidence of its ambition.
He highlighted the rapid advancements in infrastructure, including developments in highways, railways, ports, and energy, which are helping India catch up with other leading economies in Asia. Jaishankar emphasized the role of advanced technologies—such as semiconductors and electric vehicles—as key areas for India to innovate and grow.
Regarding foreign policy, he shared that India aims to expand its influence on the global stage while striving to become a developed nation by 2047. He described India’s diplomatic approach as “active” rather than “passive,” focusing on building solidarity with the Global South.
In conclusion, Jaishankar remarked that the goal is not merely to engage in global trade but to ensure that India is resilient, reliable, and ready for the future, underscoring the need for diverse supply chains for both national security and economic stability.
