New Delhi : External Affairs Minister S. Jaishankar on Saturday said that in today’s global environment, politics increasingly outweighs economics, making it vital for India to diversify supply sources to secure its national needs. He was speaking after receiving an Honorary Doctorate from IIM-Calcutta.
Jaishankar noted that the world has entered an era of uncertainty where countries must prepare for disruptions in trade and supply chains. “In an uncertain world, it is all the more important that we continuously diversify supply sources to guarantee our national needs,” he said.
Highlighting changes in global diplomacy, he said the United States—traditionally considered the underwriter of the international order—has adopted “radically new terms of engagement”, dealing with countries individually rather than through broader frameworks. India and the US are currently engaged in two negotiations: a framework trade deal focused on tariff issues and a separate comprehensive trade agreement.
Jaishankar also pointed out that China has “long played by its own rules” and continues to do so. In such a landscape, he said, countries often struggle to determine whether to focus on visible geopolitical competition or on behind-the-scenes trade-offs that define major power relationships. “Faced with these pulls and pressures… the rest of the world responds by hedging against all contingencies,” he added.
He emphasised that India is responding to this global churn by expanding its capabilities, strengthening supply chains, and rapidly advancing infrastructure. With about one-third of global manufacturing concentrated in China, he said recent conflicts and climate-related events have raised concerns over supply chain resilience worldwide.
Jaishankar asserted that India is narrowing its gap with leading Asian economies through improvements in highways, railways, aviation, ports, power, and energy sectors. “We are now moving ahead, by any standards,” he said, adding that the world is increasingly recognising India’s progress.
The minister said India is forging new trade arrangements and connectivity initiatives aligned with its people-centric economic vision and strategic interests. Looking ahead to the goal of becoming a developed nation by 2047, he said foreign policy will play a key role in expanding India’s global presence, reinforced by the solidarity it has built with the Global South.
He underlined the need for a strong industrial base to boost national power, noting that the government’s emphasis on ‘Make in India’ over the past decade reflects “a different mindset and greater ambition”. With rapid advances in sectors like semiconductors, electric mobility, drones, space, nanotechnology, and biosciences, Jaishankar said India is positioning itself to “leapfrog” and build unique technological capabilities.
