Daijiworld Media Network - Kolkata

Kolkata, Nov 30: External Affairs Minister S. Jaishankar on Saturday said in today’s uncertain world, politics increasingly “trumps” economics, making it crucial for India to continuously diversify supply sources to secure its needs.

Addressing a gathering after receiving an Honorary Doctorate from IIM-Calcutta, Jaishankar highlighted that the United States has set “radically new terms of engagement” by dealing with countries bilaterally, while China continues to follow its own rules. He said such shifts have made it essential for nations to hedge against uncertainties, especially in supply chains.

Noting that a third of global production still comes from China, Jaishankar said conflicts and climate events have increased the risk of disruption. “India has been making exponential advancements in infrastructure and science, and our gap with leading Asian economies is narrowing in highways, railways, aviation, ports, energy, and power,” he added.

On trade and industrial growth, the minister said India is pursuing self-reliance and building a robust manufacturing base, with focus on advanced technologies such as semiconductors, electric vehicles, drones, space, nanotech, and bioscience. He emphasised that promoting industrial growth remains a key priority under the 'Make in India' initiative, reflecting the country’s ambition and strategic outlook.

Jaishankar said India’s foreign policy aims to expand its global footprint and strengthen ties with the Global South. “A major power like India, with high aspirations, must maintain a strong industrial base and leverage diplomacy actively,” he asserted.