India 'Came Through Global Shocks Solidly': Jaishankar Amid West Asia Conflict

(MENAFN- Live Mint) External Affairs Minister S. Jaishankar on Saturday said India has weathered recent global shocks with resilience, in an apparent reference to the ongoing military conflict in West Asia.

Jaishankar, who was speaking at the onvocation ceremony at Indian Institute of Management Raipur, said that country has handled both domestic and external challenges fairly successfully.

Observing that the impact of conflicts on even distant societies has been profound, Jaishankar said, "No one can dispute that multiple global shocks have recently tested our resilience and that India has come through them solidly."

Jaishankar stressed that there is no getting away from building robust national capabilities, which he noted is the most effective way for de-risking and developing leverage.

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Jaishankar said, "The turbulence in the world currently is also structural in many ways. The global order is changing before our very eyes with visible shifts in the relative power and influence of countries. The politics of some societies find it difficult to come to terms with these changes. New developments in technology, in energy, military capabilities, in connectivity and in resources have encouraged risk-taking in an increasingly competitive environment. Everything today is being leveraged, if not actually weaponised. The world is then confronted with the prospect of securing itself in an increasingly volatile and unpredictable environment. This has necessitated to hedge, de-risk and diversify. Whether this is a business choice or a foreign policy.

"There is an optimism in our society that is lacking in many other parts of the world. Now you could ask, why is that? The last 10 years have been much better, giving rise to the confidence that the next 10 and those beyond will also be. We are, after all, now among the top five economies. No one can dispute that the multiple global shocks that have recently tested our resilience, and that India has come through that solidly. We have managed both domestic and external challenges fairly successfully," he added.

"New developments in technology, energy, military capability, connectivity and resources have encouraged risk-taking in an increasingly competitive environment. Everything today is being leveraged if not weaponised," the external affairs minister said.

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He said the world is confronted with the prospects of securing itself in an increasingly volatile and unpredictable environment."This has necessitated a larger inclination to hedge, to derisk and diversify, whether it's a business choice or a foreign policy part," Jaishankar added.

He identified the COVID pandemic, conflicts, and climate change as the three challenges in the decade and hence a more inclusive growth, representative politics and decisive leadership have created a new foundation.

(With inputs from agencies)

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