Surat: India must prioritize manufacturing to effectively compete with China on the economic stage, asserts External Affairs Minister S Jaishankar, highlighting the sector’s historical neglect before Prime Minister Narendra Modi assumed office in 2014.
Addressing industry leaders at a program in Surat on Monday, Jaishankar stressed the critical importance of manufacturing, noting its transformation since Modi’s tenure began. He underlined the necessity of this shift to counter China’s economic dominance, emphasizing that there is no alternative approach.
Speaking at a corporate summit themed “Bharat’s Economic Rising,” organized by the Southern Gujarat Chamber of Commerce and Industry (SGCCI), Jaishankar, a former ambassador to China, highlighted the impact of border tensions on Sino-Indian relations.
Acknowledging the abnormality caused by border tension, Jaishankar reiterated India’s stance that peace and stability in border regions are prerequisites for improving relations with China.
On the topic of terrorism sponsored from across the border, Jaishankar emphasized India’s unwavering stance against terrorism, asserting that the only response is counter-terrorism.
Regarding India’s stance on the World Trade Organization (WTO), Jaishankar acknowledged its challenges but advocated for continued engagement, asserting the importance of preserving India’s interests through alliances and bilateral arrangements.
In his address, Jaishankar credited government reforms and COVID-19 policies for India’s emergence from the pandemic, positioning it as the fastest-growing large economy.
Jaishankar highlighted India’s leadership, stability, and attractiveness for foreign investment, indicating a global desire to collaborate with India.
Reflecting on India’s evolving global perception, Jaishankar cited examples such as India’s free trade agreement with the UAE and collaborations with the US and Europe on emerging technologies.
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He reassured that India will enter into FTAs only when clear benefits are evident, safeguarding against potential harm from trade imbalances.
Jaishankar also emphasized India’s efforts to protect the interests of its citizens abroad through mobility agreements with various countries, underscoring opportunities beyond India’s borders.
As India rises economically, Jaishankar urged leveraging opportunities and addressing challenges to solidify India’s position on the global stage.
