Daijiworld Media Network – Kolkata

Kolkata, Nov 30: External Affairs Minister S Jaishankar on Saturday said that in today’s geopolitical climate, politics increasingly outweighs economics, making it vital for nations like India to diversify supply sources and strengthen self-reliance. He was speaking after being awarded an Honorary Doctorate by IIM-Calcutta.

“In an uncertain world, it is all the more important that we continuously diversify supply sources to guarantee our national needs,” he said, stressing that India has been steadily working to build itself as a global manufacturing hub.

Jaishankar observed that the United States, traditionally the underwriter of the global system, is now engaging with countries on a “one-on-one basis”, while China continues to play by its “own rules”. This shift, he said, has left many nations unsure whether to focus on visible geopolitical competition or the complex trade-offs that emerge in the process.

With globalisation facing strong headwinds from conflicts, climate disruptions and supply insecurities, countries are now hedging their bets, he noted. A third of global production currently takes place in China, putting renewed focus on the resilience of global supply chains, he added.

Highlighting India’s rapid strides in infrastructure — from highways and railways to ports, aviation and energy — Jaishankar said the country is fast narrowing the gap with successful Asian economies. “We are now moving ahead, by any standards. The world is taking note of India’s advancements,” he remarked.

The minister said the government is working to forge new trade arrangements and connectivity partnerships, guided by a people-centric approach and strategic considerations. As India charts its path to becoming a developed nation by 2047, expanding the country’s global footprint remains a central foreign policy priority, he said.

Jaishankar emphasised that India’s growing solidarity with the Global South provides a strong foundation for its international outreach. He added that diplomacy today is “active rather than passive”, noting that a country with high aspirations must build a strong industrial base.

Promoting and incentivising industrial growth, he said, has become a key economic priority. The decade-long push for “Make in India” reflects a shift in mindset and ambition. With rapid progress in sectors such as semiconductors, electric vehicles, batteries, drones, space, nanotechnology and biosciences, India now has a chance to “leapfrog and establish unique capabilities”, he said.