Jaishankar Warns of Global Economic Risks, Touts India's Self-Reliance Drive
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India's External Affairs Minister S Jaishankar cautioned on Saturday that the global economy is facing growing risks, as politics increasingly takes precedence over economic considerations. Speaking at an event in Kolkata, Jaishankar emphasized the importance of diversifying supply sources to ensure national interests, particularly in light of the ongoing trade negotiations with the US. The US has imposed 50% tariffs on India since August, while China continues to operate outside global norms, according to Jaishankar. India has been actively working towards achieving self-reliance, with notable advancements in infrastructure such as highways, railways, energy, and ports. The minister highlighted that these efforts have helped narrow the gap with leading Asian economies. As part of India's goal to become a 'developed nation' by 2047, the government is focusing on promoting industrial growth and incentivizing 'Make in India' initiatives. Jaishankar also noted that India is keeping pace with advanced technologies, including semiconductors, electric vehicles, and nanotechnology, and sees opportunities for leapfrogging and establishing unique capabilities.
