New Delhi, Dec 3 (Representative) Ahead of the Trump administration taking over, External Affairs Minister S Jaishankar said today that where India is concerned the strategic convergences with the US have only grown deeper with time and have created a larger environment in which more collaborative possibilities can be explored. Addressing the CII Partnership Summit, he said that between two major economies, there will always be some give and take. He said that in the economic or technology domains, the case for trusted and reliable partnerships have actually increased in recent years. “A lot of what lies ahead would be in fashioning terms of engagement that are perceived as mutually beneficial. And in that regard, the more that India can bring to the table, the stronger our appeal,” he said. “An economy like India that has risen to the fifth position globally and advancing further, needs more significant partnerships. Our stakes in the world are more; the responsibilities are greater, and indeed, the expectations too are higher. But the case for international relationships are strengthened by the state of the global economy currently. At a time when there is so much volatility and uncertainty, India can certainly be a stabilizing factor.
We can add as well to the engines of growth and make our due contribution to the progress of technology.” “The US-China friction has assumed a salience that could not have been envisaged, just a few years ago. The Ukraine conflict has created its own ripples, reflected in food, fuel and fertilizer insecurities. The Global South is also feeling the brunt of inflation, debt, currency shortages and trade volatility. In short, the world looks a tough place. And tough situations call for more friends and partners,” the EAM pointed out.Touching on the neighbourhood, he said: “…The reality on the ground is that our economies and societies are closer linked than ever before. During periods of stress – Covid, Ukraine aftermath or financial difficulties – we have stood together to our collective benefit. At times, currents of politics may seek to distance, or even disrupt. Obviously, challenges like terrorism cannot be overlooked. But the truth is that otherwise, departures from natural collaboration do have a cost.
Their viability is also a related issue. On the whole, that realization is now more deeply felt.” On FTAs, EAM said that “The nature of commerce and supply chains in the world is such that orthodox precautions are not always adequate. Yet, it would be unwise to forego opportunities and limit access. The working principle, therefore, has to be one of proceeding with caution. In recent years, we have progressed with the EFTA nations, UAE, Australia and Mauritius. Some major agreements are under discussion. In a world under churn, such endeavours will naturally occupy greater mind space.” On connectivity, the EAM took a swipe at China’s Belt and Road, saying: “The world has also seen a greater interest in developing alternative and redundant connectivity. The de-risking that is today at the heart of so many national policies also applies to logistics. There are after all so many factors of volatility that the fragility of connectivity needs to be credibly addressed. Even in the last few years, we have seen it threatened by conflicts, extreme climate events or pandemics. Each one of them is a recurring phenomenon; and there could be other black swans out there.” He cited the connectivity corridors being pursued by India, including the India-Middle East-Europe Economic Corridor (IMEC) and the International North South Transport Corridor (INSTC), the India-Myanmar-Thailand Trilateral Highway (IMTT) and the Chennai-Vladivostok Corridor. “When they are realized, new pathways will open up from the Atlantic to the Pacific, traversing India in that process. Its significance is something you will all appreciate.” In a post on X, the EAM said: “Pleased to address the CII Partnership Summit 2024 on ‘India and the World: Partnership for Progress’ today in Delhi. “Highlighted that: *India needs more significant partnerships. Our stakes in the world are more; the responsibilities are greater, and indeed, the expectations too are higher. *The very economic landscape that we are looking at is in the midst of a deep transformation.
Responding effectively cannot be just a national endeavour. *The world looks a tough place. And tough situations call for more friends and partners. *The more that India can bring to the table, the stronger our appeal. *In our Neighborhood, departures from natural collaboration do have a cost. Their viability is also a related issue. That realization is now more deeply felt. *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. The digital era actually intensifies the compulsions to forge trusted partnerships.In an era of leveraging and weaponization, policy makers have to place national security filters when it comes to economic decisions, including those of investment. *The world sees a greater interest in developing alternative and redundant connectivity. *Partnerships are also increasingly cognizant of demographic challenges. ‘In source’ from India may well become the new mantra. “Our goal is to work as Team India abroad. The world’s image of us is shaped by actual experiences and there will be opportunities & challenges for diplomacy and business alike. In partnering together, we may get the best value for ourselves.”