External Affairs Minister S Jaishankar on Saturday said India has come through solidly from global shocks that recently tested its resilience, an apparent reference to the ongoing military conflict in West Asia.
Speaking at the convocation ceremony of IIM Raipur, Jaishankar emphasised that India has managed both domestic and external challenges fairly successfully.
He observed that the impact of conflicts on even distant societies has been profound, which is a testimony to the extent of globalisation.
“No one can dispute that multiple global shocks have recently tested our resilience and that India has come through them solidly,” Jaishankar added. The crisis in West Asia, which began in February after the US and Israel attacked Iran, has impacted global fuel supply and triggered a shortage of hydrocarbons.
Jaishankar stressed that there is no getting away from building robust national capabilities, which he noted is the most effective way for de-risking and developing leverage.
He further said that the global order is changing with visible shifts in relative power and influence of countries, adding that the turbulence in the world is currently structural in many ways.
“New developments in technology, energy, military capability, connectivity and resources have encouraged risk-taking in an increasingly competitive environment. Everything today is being leveraged if not weaponised,” the external affairs minister said.
He said the world is confronted with the prospects of securing itself in an increasingly volatile and unpredictable environment.
“This has necessitated a larger inclination to hedge, to derisk and diversify, whether it’s a business choice or a foreign policy part,” Jaishankar added. He identified the COVID pandemic, conflicts, and climate change as the three challenges in the decade.
He said more inclusive growth, representative politics and decisive leadership have created a new foundation.