Mumbai: External Affairs Minister S Jaishankar on Saturday stressed that India, as the world’s fifth-largest economy, must develop a broad and diversified set of energy partnerships to secure its long-term interests.
Speaking at a Business Today event, Jaishankar highlighted the growing global concerns around de-risking the economy, citing emerging trends such as industrial policies, export controls, and tariff wars—marking a shift from decades of pro-globalisation rhetoric.
Ensuring a favourable and sustainable energy environment is one of India’s key diplomatic objectives, he said, adding that beyond fossil fuels, India is focusing on scaling renewables and exploring the potential of small modular nuclear reactors.
Jaishankar also underscored India’s growing commercial assertiveness, noting that Indian embassies are now more proactive in supporting businesses abroad. Referring to India’s decision to continue importing oil from Russia during the Ukraine conflict, he said, “Every nation acted in its self-interest, even if some professed otherwise.”
He further pointed out India’s unique diplomatic position, engaging simultaneously with diverse and sometimes conflicting blocs—Russia and Ukraine, Israel and Iran, the democratic West, the Global South, BRICS, and the QUAD.
With the world facing fragmented supply chains and protectionist trends, Jaishankar emphasized the need for “re-globalisation”—one that is fairer, more democratic, and less risky. He called for diversified manufacturing, innovation, and stronger trade, particularly in sectors like food and health security.
On the digital front, Jaishankar warned of heightened insecurities in sourcing and collaboration as nations step into the AI era. He stressed that privacy, security, and political trust will increasingly shape the global digital economy alongside efficiency and talent.
“There is a global reordering underway. India must position itself to maximise the benefits,” Jaishankar concluded.
