Strategic priorities must align with economic policymaking in an era of global disruptions, emphasizes Minister at CII Partnership Summit 2024
New Delhi, India, December 2, 2024 – India’s economic policy must align with national security priorities to navigate an increasingly volatile global landscape, External Affairs Minister Dr. S. Jaishankar stated on Monday. Speaking at the CII Partnership Summit 2024 in New Delhi, he highlighted the critical role of “trusted partnerships” and careful decision-making in maintaining stability and fostering growth.
Addressing the plenary session titled “India and the World: Partnerships for Progress,” Dr. Jaishankar framed his remarks against a backdrop of seismic global events, including the COVID-19 pandemic, geopolitical realignments, and the ongoing Russia-Ukraine conflict. He urged policymakers to recognize the intersection of economic and strategic concerns in shaping the nation’s future.
A Shifting Global Order
Dr. Jaishankar pointed to deepening India-U.S. ties as an example of effective collaboration amid uncertainty, noting shared interests in sectors like digital innovation, semiconductors, and electric mobility. He emphasized that these partnerships are not merely transactional but grounded in a long-term vision for mutual benefit.
Building Resilience at Home
Turning to domestic priorities, the Minister stressed the importance of scaling up manufacturing, fostering innovation, and addressing skills mismatches in the workforce. “The digital and AI revolutions demand not just adaptation but proactive investment in capabilities,” he said, citing initiatives such as Gati Shakti as critical to bolstering India’s infrastructure and logistical efficiency.
“In the times defined by leveraging and weaponization, economic decisions must be filtered through the lens of national security. This approach will not only safeguard India’s interests but also position us as a reliable partner in a complex global environment,” said Dr. Jaishankar.
Challenges And Opportunities In Trade And Connectivity
On trade, the Minister struck a cautious tone, highlighting the need to balance the benefits of free trade agreements with protections for small producers. Connectivity, he added, is central to India’s strategy, particularly in addressing challenges like climate change and economic disruptions.
The Summit’s Broader Context
The 29th edition of the CII Partnership Summit, organized by the Confederation of Indian Industry in collaboration with the Department for Promotion of Industry and Internal Trade, serves as a critical platform for policy dialogue.
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