From 5th to 3rd in Global Rankings: S. Jaishankar on India's Economic Rise

In a recent discourse moderated by Sadin Pratidin Group Director Rishi Baruah at The Conclave 2024 in New Delhi, Indian External Affairs Minister S. Jaishankar discussed India’s position in the race for global supremacy amid complex geopolitical dynamics involving the United States, China, and Russia. Baruah noted that while the US strives to maintain its global dominance, China seeks a significant share, and Russia pursues its own agenda alongside the European Union. He highlighted India's successful hosting of the G20 summit as a testament to its diplomatic prowess.

When asked about India's standing in this competitive landscape, Jaishankar stated, "Think life is a competition... similarly, nations compete. The nation or the person who comes first obviously likes to hold on to it as long as possible, others challenge it." He emphasized the gradual rise of India since independence, noting, "In a literal way, economically we stand at number five... By all assessments, we will move up from number five to number three in terms of the size of the economy."

Jaishankar elaborated on India’s strengths, stating, "the world needs the right kinds of people those who have talent, who are trained," as he discussed the government's focus on manufacturing and skill development through initiatives like the recently inaugurated internship program by Prime Minister Narendra Modi.

Addressing concerns about domestic electoral results impacting India's global image, Jaishankar confidently remarked, "The world does not follow all the details... The world follows who is in charge of the government." He cited Prime Minister Modi's three consecutive terms as a significant achievement in the context of global leadership.

On the sensitive issue of India-Israel relations and Palestinian rights, Jaishankar asserted, "We have a strong and good relationship with Israel... but at the same time, we also believe that there must be a solution for the Palestinian problem," advocating for a two-state solution.

Amid unrest in West Asia, he expressed optimism about future initiatives like I2U2 and the India–Middle East–Europe Economic Corridor, stating, "Last year... India, Middle Eastern countries, and European countries reached an agreement for a mutual connectivity solution." He acknowledged the ongoing challenges but reassured that collaborative projects with nations like the UAE and Saudi Arabia continue to progress.

Jaishankar concluded with a forward-looking vision, emphasizing the importance of global supply chains and India's evolving connectivity initiatives: "In the third term of Modi 3.0, we have increased the rail corridor... to plug it into the bigger movement which will have huge economic consequences for us."

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