Over the next quarter-century, India must build “deep national strengths” to help it transition to a developed economy and become a leading power, External Affairs Minister Subrahmanyam Jaishankar said, as reported by the Indian Express on March 1st.
He stressed that a country’s ambitions should not be determined by the “good will of others”, which is why it is dangerous to depend on a limited number of suppliers and use market dominance as a weapon.
The minister’s video message was shown during the first event of the 5th Asian Economic Dialogue, jointly held by the Ministry of External Affairs and the Pune International Centre. The theme of this year’s conference is “Geoeconomic Issues in an Era of Change.”
The minister divided geoeconomic challenges into three categories: supply chain challenges, technological challenges and “excessive concentration resulting from the nature of globalization”.
The world is dangerously dependent on a limited number of suppliers and technological challenges are increasing as technology permeates all aspects of life.
“Not only are our interests at stake, but often our most personal decisions and choices are also at stake.”“, emphasized the diplomat. He noted that the era of artificial intelligence, electric vehicles, chips and environmentally friendly technologies is approaching.
Greater international cooperation is needed to ease unilateral restrictions and economic dominance, Jaishankar said.
“We must build deep national strength during Amrit Kaala (25 year period from 2022 to 2047 – approx. IA Krasnaya Vesna), that will facilitate the transition towards a developed economy and a leading power”“emphasized the minister.
Source: Rossa Primavera
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