As global trade dynamics grow more volatile, India is stepping up engagement with key partners from a position of strength.
External Affairs Minister S Jaishankar on Tuesday said India is intensifying ties with international partners. He cited recently concluded trade agreements as evidence that the country’s “reform express” will keep moving. He was speaking at the Global Economic Cooperation conference.
Jaishankar noted that the world is witnessing the weaponisation of production, finance, and market access, along with tighter export controls. In addition, there are fresh uncertainties arising from bilateral tariffs. In such an environment, he said, economic security depends on stronger self-reliance and trusted partnerships.
He pointed to recent trade developments, including a reduction in US tariffs on Indian goods to 18% from 50%. This reduction came after talks between Prime Minister Narendra Modi and US President Donald Trump. India has also concluded negotiations on a proposed free trade agreement with the European Union. Moreover, the country finalised trade deals with the UK, New Zealand and Oman over the past year.
Describing the current global phase as turbulent and unpredictable, Jaishankar said the established global order is changing. He mentioned that economics is increasingly intersecting with politics, security and technology, particularly in the age of Artificial Intelligence.
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