India Must Prioritize Manufacturing to Compete Economically with China: Jaishankar
SURAT : External Affairs Minister S Jaishankar emphasized the crucial role of manufacturing in India’s economic competitiveness, stating that it had been overlooked by previous governments until Prime Minister Narendra Modi took office in 2014.
Speaking at a corporate summit organized by the Southern Gujarat Chamber of Commerce and Industry (SGCCI) on “Bharat’s Economic Rising,” Jaishankar highlighted the necessity for India to focus on manufacturing to rival China’s economic prowess. He underscored the significance of manufacturing as the foundation for technological advancement and economic growth, stressing that it is the only viable economic response to China’s dominance.
Jaishankar, a former ambassador to China, acknowledged the strain in Sino-Indian relations due to border tensions, asserting that peace and stability at the border are essential for improving bilateral ties. He reiterated India’s unwavering stance against terrorism and emphasized the need for counter-terrorism measures.
Addressing concerns about the World Trade Organization (WTO) amidst challenges posed by China’s trade practices and the interests of advanced nations, Jaishankar advocated for India’s continued engagement in the global forum. He emphasized the importance of leveraging bilateral and group arrangements to safeguard India’s interests.
Highlighting India’s economic resilience amidst the COVID-19 pandemic, Jaishankar attributed India’s rapid recovery and strengthened economic position to government reforms and policies. He emphasized India’s growing global stature, attracting collaboration and investment from around the world.
Jaishankar underscored India’s evolving relations with key partners such as the United Arab Emirates (UAE) and the United States, citing significant milestones in bilateral trade and technological cooperation. He reaffirmed India’s commitment to protecting the interests of its citizens abroad through mobility agreements with various countries.
In conclusion, Jaishankar expressed confidence in India’s rising profile on the world stage and urged stakeholders to seize opportunities for engagement and collaboration. He emphasized India’s unique position as an indispensable partner for global stakeholders and reiterated India’s cautious approach towards free trade agreements to ensure mutual benefit and prevent economic harm.
