Last update:November 10, 2024, 23:13 IST

Focusing on economic diplomacy has become one of the key changes in Indian foreign policy, which is now fundamentally aimed at serving national development and security, External Affairs Minister S. Jaishankar said at an event on Sunday .

EAM Jaishankar (Photo: X/S Jaishankar)

Focusing on economic diplomacy has become one of the key changes in Indian foreign policy, which is now fundamentally aimed at serving national development and security, External Affairs Minister S. Jaishankar said at an event here on Sunday.

In his keynote address at the silver anniversary celebrations of the Aditya Birla Group scholarship program in Mumbai, he said India’s appetite to explore the world has also grown, be it in tourism, education or job prospects.

“This deeper link between the outside world and our national efforts offers us crucial opportunities to accelerate the path towards a Viksit Bharat. In fact, we take it so seriously that I can declare that foreign policy is now fundamentally aimed at promoting national development as well as ensuring national security,” Jaishankar said.

Of course, both goals are closely related, he said.

“Therefore, much of our diplomacy is dedicated to promoting exports, attracting investment, obtaining best practices, identifying technologies and expanding tourism,” the foreign minister said, adding that the cumulative impact is to increase employment opportunities in the country.

He said there are different ways to achieve these objectives and the most basic one is to “promote the Indian brand and strengthen international trust by partnering with us.”

“Given the diversity of our country, there is a need to do it at the state level as well,” Jaishankar added.

Noting that it is business attraction that drives foreign investors and potential projects, he said their inclinations are often strengthened by a favorable enabling environment and a more granular understanding of India’s plans.

Technology flows and best practices are also laborious two-way exercises that require both ends to appreciate their full potential, he said.

“This focus on economic diplomacy, in fact, has become one of the key changes in our foreign policy in contemporary times. The international situation is also ripe today for more strenuous efforts in that direction. The Covid experience brought home to the world the dangers of depending on limited geography,” Jaishankar said.

“Our interactions with the world and our interests in it have grown proportionately… the world today increasingly appreciates the history of India,” he added.

The Foreign Minister also said: “Today there is a perceptible interest in collaborating with us, which is reflected in the constant flow of visitors and high-profile companies. Our appetite to explore the world has also grown, whether in the tourism, education or job opportunities.” “As we enter the era of AI (artificial intelligence), who captures, processes and deploys your data is of utmost importance,” he said.

Consequently, data privacy and cybersecurity run parallel to trusted supply chains as a global priority. That manufacturing and data are also more deeply fused is another reality to keep in mind, Jaishankar said.

“So, in this scenario, India has an opportunity to board the manufacturing bus that we have to some extent missed in the past. It is up to us to develop the logistics, infrastructure and business environment to promote greater industrial production,” he said. saying.

Stating that no nation can truly develop in a one-dimensional manner, and large ones in particular, like India, he said: “We must have some basic self-reliance.” “That is why we talk about Atmanirbhar Bharat. Otherwise, in an era of armed economy, we seriously expose ourselves to vulnerabilities,” Jaishankar said.

According to him, India is currently facing two major challenges: “the scale of our producers and the limits of our technology”, both of which change every year and are, in fact, interrelated in many ways.

For Bharat to grow, he said, it must develop deep technological strengths and create the capacity to research, design and innovate, and that will only happen when manufacturing expands and industrial culture takes deep roots.

“After all, we must be protected from unfair competition during that process, especially if it could have a strategic intent. Global engagement cannot be argued solely on the basis of mere economic merits without taking into account its social and national security consequences. In fact, that is one of the takeaways from recent events in the United States,” Jaishankar added.

(This story has not been edited by News18 staff and is published from a syndicated news agency feed. PTI)