The New Era of Global Trade

External Affairs Minister S Jaishankar recently highlighted the evolving landscape of international trade and business. Speaking at the Raisina dialogue in Delhi, he emphasized that decisions in the global market are no longer solely based on cost but are increasingly influenced by factors such as national security, comfort, and trust.

Dealing with the Weaponization of Global Goods

Jaishankar addressed the growing concern over the weaponization of global goods, including social media and telecom. He suggested that one effective strategy is to align oneself with the 'right side of the weapon' to avoid negative impacts. This approach reflects the increasing importance of strategic partnerships and trust in international relations.

India's Strategic Trade Negotiations

Highlighting India's active engagement in global trade, Jaishankar mentioned ongoing negotiations with the EU, the UK, and the United States. These regions are not only significant markets for India but also crucial partners in technology, education, and tourism, underscoring the multifaceted nature of modern trade relationships.

The Role of Tariffs and Sanctions

Jaishankar also touched upon the reality of tariffs and sanctions in today's economic environment. He noted that countries are increasingly using these tools to protect their economic interests, a trend that has been particularly evident over the last decade. This weaponization of economic capabilities underscores the complex interplay between trade, security, and national power.