New Delhi, Delhi
External Affairs Minister S. Jaishankar has said that the coming period could be marked by turbulence and uncertainty across the world. Ongoing conflicts, global tensions and fluctuations in tariffs are likely to keep the situation challenging. However, he expressed confidence that India is capable of dealing with these challenges.
Jaishankar shared his views on the global geopolitical situation during an interactive session at the fifth Kautilya Economic Conclave. He said that two major conflicts are currently underway in the world, while several other tensions are also emerging. In addition, pressure from non-market factors and changes in tariffs are creating difficulties for the global economy.
The External Affairs Minister said that India has faced difficult circumstances in the past as well. From the COVID-19 pandemic to the ongoing dual conflicts, India has demonstrated its ability to deal with challenges. He said that challenges related to energy, food and fertilizers would have to be incorporated into India’s planning and response strategies.
India-US Trade Agreement Also Discussed
Jaishankar described the proposed India-US bilateral trade agreement as an important step. He said the agreement has significant potential and could help India expand its access to one of the world’s largest and most beneficial markets.
He said the agreement could provide a boost to the Indian economy. The External Affairs Minister also said that the United States alone cannot be held responsible for all the problems in the global trading system. According to him, several distortions in the market have also originated from other countries and should be assessed objectively.
Jaishankar said that the United States is a major economic, trade and defence partner of India. He also referred to the recent agreements with the European Union, the United Kingdom and the European Free Trade Association, saying that these agreements would help India maintain a balance in its trade relationships.
