External Affairs Minister S Jaishankar recently said that politics is increasingly overtaking economics in today’s world, and this makes it essential for India to diversify its supply sources. Speaking after receiving an Honorary Doctorate from IIM-Calcutta in Kolkata, he said that in an era of global uncertainty, countries must secure their needs by reducing dependence on limited suppliers.
Jaishankar noted that the United States has changed how it deals with the world. Instead of broad global systems, the US is now engaging with countries individually and setting new terms of cooperation. India and the US, he said, are currently holding two separate negotiations, one on a framework trade agreement focused on tariffs and another on a wider trade deal.
He also said China has long followed its own rules and continues to do so today. Because of this, many countries are unsure whether they should pay more attention to open competition or to the quiet compromises happening behind the scenes.
Jaishankar explained that the world is now responding to globalisation, fragmentation, and supply insecurity by preparing for every possibility. He stressed that building self-reliance and turning India into a manufacturing hub has become a major priority for the government.
He highlighted that nearly one-third of global production takes place in China, and this has put global attention on the reliability of supply chains. Conflicts and climate-related disruptions have increased these concerns. According to him, India is rapidly closing the gap with leading Asian economies in key infrastructure areas such as highways, railways, aviation, ports, power, and energy.
He added that India’s progress is now being recognised globally, and the country is working to build new trade partnerships and new connectivity projects that will combine strategic and economic goals. All future trade decisions, he said, will keep people’s interests at the centre.
Shivam Verma is a journalist with over three years of experience in digital newsrooms. He currently works at NewsX, having previously worked for Firstpost and DNA India. A postgraduate diploma holder in Integrated Journalism from the Asian College of Journalism, Chennai, Shivam focuses on international affairs, diplomacy, defence, and politics. Beyond the newsroom, he is passionate about football—both playing and watching—and enjoys travelling to explore new places and cuisines.
