India Can Strengthen and De-risk the Global Economy, Help Change Global Supply Chains: Foreign Minister Jaishankar

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New Delhi: Foreign Minister S Jaishankar said that India can strengthen and de-risk the global economy through more effective partnership, like the supply chain resilience initiative with Japan and Australia.

At the 26th ‘Future of Asia’ Conference organised by Nikkei, he spoke on the role of Asia and its relevance in shaping the post-Covid 19 era. He said among other things coronavirus disease (Covid-19) has reshaped the world by changing the perceptions and calculations of nations about each other and the world by bringing out the value of trust and transparency and the importance of reliable supply chains.

“It has heightened the risk aversion in a world now more insecure and encouraged strategic autonomy to address over-dependence by focusing on the need to create greater global capacities so that pandemic-scale challenges are more effectively met,” the minister said.

“What we will now have to conceptualize is re-engineering the way the world works to prepare for and mitigate such cataclysmic events. Covid-19 has certainly triggered debates on issues like supply chains, global governance, social responsibility and even ethics. But for many of us gathered here today, it equally encourages an objective assessment of the contemporary world so that we are better prepared for tomorrow,” he said.

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