Jaishankar Highlights New Global Challenges, Stresses Need for India’s Industrial and Strategic Expansion (Source: Instagram)
External Affairs Minister S. Jaishankar on Saturday said that in today’s world, political decisions are increasingly shaping global outcomes more than economic factors, and stressed that India must keep diversifying its supply sources to secure its essential needs. He was speaking at the IIM-Calcutta campus after receiving an Honorary Doctorate.
Jaishankar explained that global uncertainty has made it necessary for nations to rethink their strategies. He said, "This is an era where politics increasingly trumps economics... and that is not a pun... In an uncertain world, it is all the more important that we continuously diversify supply sources to guarantee our national needs."
The minister pointed out that the United States has altered its approach to international relations, choosing to engage with countries individually rather than through broader frameworks. As he noted, "The United States, long the underwriter of the contemporary system, has set radically new terms of engagement. It is doing so by dealing with countries on a one-on-one basis."
Currently, India and the U.S. are holding two sets of talks—one focused on tariffs through a framework agreement and another aimed at a full trade deal.
Jaishankar also remarked that China has continued to operate according to its own rules, saying that it has “long played by its own rules,” and is still doing so. In this environment, he said countries are often unsure whether to focus on direct competition or on the behind-the-scenes negotiations that shape international relationships.
He noted, "Faced with such pulls and pressures of globalisation, of fragmentation and of supply insecurity, the rest of the world responds by hedging against all contingencies."
Highlighting India’s progress, Jaishankar said the country has been rapidly modernizing its infrastructure and advancing in science and technology. He observed that one-third of global manufacturing takes place in China, which has raised concerns globally about the “resilience and reliability” of supply chains. Climate-related challenges and conflicts have also increased the risk of disruptions.
He added that India is quickly catching up with leading Asian economies in areas such as transportation, power, aviation, ports, and energy, noting, "We are now moving ahead, by any standards," and that the world is taking note of this growth.
Jaishankar said India is working on forming new trade partnerships and launching connectivity projects to strengthen its global engagement. He stressed that India's trade decisions will continue to be “people-centric,” and that connectivity projects will consider both strategic and economic factors.
He said the government’s vision to make India a developed nation by 2047 includes expanding the country’s global influence. The solidarity that India has built across the Global South, he added, provides a strong foundation for this.
Jaishankar emphasized that India’s diplomacy today is proactive. According to him, "A major power, that too with high aspirations like us, must have a significant industrial base," and promoting industrial development has become a major priority. The “Make in India” initiative, he said, reflects a stronger national ambition.
He highlighted that India is focusing on advanced technologies and modern manufacturing to stay competitive. Jaishankar explained that the country is entering major technology-driven sectors—including semiconductors, electric vehicles, batteries, drones, space technology, nanotechnology, and bioscience—where India can “leapfrog and establish unique capabilities.”
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