Home Business India Is Ready To Respond To Economic Rebalances: Dr. S. Jaishankar
Business - Top News - March 3, 2020

India Is Ready To Respond To Economic Rebalances: Dr. S. Jaishankar

Everything economic does affect everything political in nature too. This was the message given by the External Affairs Minister (EAM) Dr. S. Jaishankar while addressing a press briefing. He referred to the new role that India will have to play while the whole world is in turmoil. Speaking over India’s growing importance he said, “Today, we struggle to absorb a nationalistic America, a rising China, a divided Europe, a re-emerging Russia, a normalizing Japan, an insecure ASEAN and an even more disturbed Middle East.” “Economic rebalancing has now started to translate into its political manifestation,”

Accepting that as a nation, ‘we have our own challenges’ and are aware that currently, we have no choice but to deal with this ‘fundamental overhaul of the global architecture.’

But the India growth story is no more ‘binary and unilateral’. We are being taken seriously, in some cases ‘as a player and in many cases as a competitor too.’

Jaishankar also responded by saying that today India needs a complex and nuance strategy. Undeniably, ‘our stakes and capacities have grown’.

Right after the re-election of Mr. Narendra Modi as PM for another term, he was apt is saying that ‘The West needs India for its market, human resources and burden sharing while India needs the West for its growth. The question is whether a “new compact” between India and the West is possible. It requires different conversations and different collaborations.’

Speaking about the message that India wants to give to the world through the new age leadership, he had said, “India’s foreign policy in Prime Minister Narendra Modi’s second term will reflect the huge mandate he received just as it will reflect the need to adjust constantly and move quickly in the rapidly shifting world environment.”

In the midst of a pandemic in the making, China market closing down, America’s economic advantages shrinking and an insecure Middle East, Jaishankar has concluded by saying that “Each of us has to devise their own course and India’s prospects are heavily focused on the improvement of infrastructure. At the end of the day, this may be one of the defining elements of comparative advantage. Getting politics, economics and governance all right at the same time is therefore particularly important at this moment.”

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