At the CII Partnership Summit, External Affairs Minister S. Jaishankar painted a stark picture of the global landscape, emphasizing the urgency of building stronger international partnerships to address rising geopolitical and economic uncertainties. With shifting power dynamics and growing turbulence, Jaishankar underscored the importance of collective resilience to navigate these turbulent times.
Jaishankar pointed out the intensifying friction between the United States and China as a pivotal factor redefining international relations. He highlighted how economic shifts have taken on strategic dimensions, creating ripples across global diplomacy and trade. “The US-China friction has assumed a salience that could not have been envisaged just a few years ago,” Jaishankar observed, pointing to the challenges this rivalry poses for global stability.
The Ukraine war, Jaishankar said, has further deepened global volatility, leading to severe disruptions in vital supplies of food, fuel, and fertilizers. These disruptions have had a cascading effect, straining economies worldwide and exacerbating vulnerabilities in developing nations.
Jaishankar turned the spotlight on the Global South, which he described as being disproportionately affected by inflation, debt crises, currency pressures, and erratic trade patterns. “The global south is also feeling the brunt of inflation, of debt, of currency shortages, and of trade volatility,” he stated.
He called for a collective effort to address these disparities, stressing that the solution lies in fostering robust partnerships. “The world looks a very tough place, and tough situations call for more friends and more partners,” he urged.
Jaishankar emphasized India’s growing role as a key player. He underlined the importance of scaling up the nation’s manufacturing capabilities to establish itself as a credible partner in the global marketplace.
“The greater our capabilities, the broader our capacities. The more innovative our talent, the wider our skills, the more attractive we are as a partner,” he said. The minister pointed to ongoing government initiatives aimed at addressing long-standing challenges in infrastructure and logistics, which he described as crucial for enabling India’s economic ambitions.
