The Impressive TimesNew Delhi : External Affairs Minister (EAM) S. Jaishankar has emphasized that the world is currently passing through an uncertain period, marked by geopolitical tensions, economic fluctuations, and supply chain disruptions. Speaking at an international forum, Jaishankar underscored the necessity of de-risking the global economy to build resilience against unpredictable challenges.
Jaishankar highlighted that in recent years, the world has witnessed multiple crises, ranging from the COVID-19 pandemic to the Russia-Ukraine conflict and tensions in the Middle East. These crises have had a profound impact on global supply chains, trade flows, and economic stability. He pointed out that excessive dependence on certain markets, supply sources, and energy providers has made countries vulnerable to economic shocks.
“The global economy today is highly interconnected, but that interdependence also comes with risks. We have seen how overreliance on certain regions for critical supplies—be it semiconductors, energy, or essential medicines—can create vulnerabilities that disrupt economies worldwide. To ensure sustainable growth, it is imperative that we build diversified and resilient economic frameworks,” Jaishankar stated.
He called upon nations to adopt a strategic approach towards risk mitigation, emphasizing the importance of diversifying supply chains and reducing dependence on single-country sourcing. He also reiterated India’s commitment to playing a constructive role in global economic rebalancing through initiatives such as ‘Make in India’ and ‘Aatmanirbhar Bharat’ (Self-Reliant India).
Jaishankar also spoke about the evolving nature of trade partnerships and the importance of multilateral cooperation. He noted that regional trade agreements and strategic partnerships, such as the Indo-Pacific Economic Framework (IPEF) and the Quad, are essential in creating alternative supply chains and reducing the risks associated with geopolitical instabilities.
On financial stability, he emphasized the role of international institutions like the International Monetary Fund (IMF) and the World Bank in ensuring a more equitable global financial system. He advocated for reforms that would provide emerging economies with greater decision-making power and access to financial resources, particularly in the wake of economic slowdowns caused by global disruptions.
Regarding India’s role, Jaishankar asserted that the country is actively working towards becoming a reliable trade partner, offering a stable environment for manufacturing and investments. He stressed that India’s digital economy, innovation-driven industries, and young workforce position it as a key player in global economic realignment.
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