National
In an uncertain world, it is all the more important that we continuously diversify supply sources to guarantee our national needs – S Jaishankar , External Affairs Minister
“The United States, long the underwriter of the contemporary system, has set radically new terms of engagement. It is doing so by dealing with countries on a one-on-one basis,” he noted.
Picture Credit : @IIM_Calcutta/X
External Affairs Minister S Jaishankar has said politics increasingly “trumps” economics in the present era, and in an “uncertain world”, it is important that the country continuously diversifies supply sources to guarantee its needs.
He also said the United States has set radically new terms of engagement by dealing with countries on a one-on-one basis. According to media reports, Jaishankar made thse remarks while addressing a gathering after being conferred Honorary Doctorate by IIM-Calcutta at its campus in Kolkata.
He added that India has been actively pursuing self-reliance and making itself a manufacturing base for industries.
“This is an era where politics increasingly trumps economics… and that is not a pun… In an uncertain world, it is all the more important that we continuously diversify supply sources to guarantee our national needs,” Jaishankar said.
🎓 Doctor of Philosophy (Honoris Causa) Conferral Ceremony | IIM Calcutta
IIM Calcutta had the honour of conferring the Doctor of Philosophy (Honoris Causa) upon Hon’ble Dr. Subrahmanyam Jaishankar, Minister of External Affairs, Government of India.
In his address, Dr.… pic.twitter.com/PaAMfnK6Pe— IIM Calcutta (@IIM_Calcutta) November 29, 2025
“The United States, long the underwriter of the contemporary system, has set radically new terms of engagement. It is doing so by dealing with countries on a one-on-one basis,” he noted.
India and the US are having two parallel negotiations — one on a framework trade deal to address tariffs and another on a comprehensive trade deal.
The external affairs minister said that China has “long played by its own rules”, and is doing so even now. In the ensuing scenario, other nations are unclear whether attention should be on visible competition or the trade offs and understandings that punctuate it, he said.
“Faced with such pulls and pressures of globalisation, of fragmentation and of supply insecurity, the rest of the world responds by hedging against all contingencies,” Jaishankar said.
India has been making exponential advancements in infrastructure as well as in latest scientific developments, he asserted. Noting that a third of global production currently takes place in China, Jaishankar said this has put the spotlight on the “resilience and reliability” of supply chains.
“Conflicts and climate events have added to the possibility of that disruption.” Jaishankar said India’s gap with some of the more successful Asian economies is fast narrowing in terms of infrastructure — highways, railways, aviation, ports, energy and power.
“We are now moving ahead, by any standards,” he said, maintaining that the world is taking note of the advancements being made by India. “… With these considerations in mind, we are today endeavouring to forge new trade arrangements and promote fresh connectivity initiatives,” the minister said.