India Resilient Through Global Shocks, Credits Ddecisive Leadership

His remarks reflect the backdrop of the ongoing crisis in West Asia, which began on February 28 when the United States and Israel attacked Iran, affecting global fuel supplies.

“We are now among the top five economies. No one can deny that a number of global shocks have tested our resilience in recent times and India has weathered it intact. We have managed both internal and external challenges quite successfully,” he said.

He said more inclusive growth, representative politics and determined leadership have laid a new foundation on which the country can now achieve higher goals.

“We have not only enthusiastically embraced the digital revolution, but also consciously implemented it in our lives. Even many developed societies have not done this,” EAM said.

Jaishankar emphasized that there is no escape from developing solid national capabilities and stated that this is the most effective way to de-risk and build leverage.

“Developing national capabilities has become more critical in light of the global trends I mentioned. This is especially true for large countries. Even in the developed world, you will notice that the earlier mantras of globalization are now giving way to a new awareness of self-reliance.”

He said in India, this is referred to as ‘Atmanirbhar Bharat’ and its value is obvious when it comes to food, health, energy security or national security.

“We must seek to secure as much capacity as possible under our control. Obviously, some areas will be more difficult than others. In such cases, the answers lie in reliable or reliable partnerships and diverse sourcing. Building solid national capabilities is the most effective way to de-risk and even build leverage,” he said.

Jaishankar noted that the global order is changing with visible shifts in the relative power and influence of countries, and the turmoil in the world is now structural in many ways.

“The politics of some societies find it difficult to keep up with these changes. New developments in technology, energy, military capabilities, connectivity and resources have encouraged risk-taking in an increasingly competitive environment. Today, everything is exploited, if not weaponised,” he said.

He said the world faces the prospect of securing itself in an increasingly unstable and unpredictable environment, and this requires a greater penchant for hedging, de-risking and diversifying, whether in business choice or foreign policy.

He emphasized the role of business and enterprise, arguing that nation-building is an extremely complex task with many dimensions.

“The strength and dynamism of our businesses is a cross-cutting issue. In our effort to capture the lost decades of the past, you will notice that a very important initiative has now made it easier to do business. This is even possible when the enabling environment is more positive,” he said.

He added that the expansion of educational institutions and increased focus on skill development has further strengthened India’s human capital, while significant improvements have been made in ease of living and access to opportunities, especially for entrepreneurs, start-ups and small businesses.

He identified the COVID pandemic, conflicts and climate change as three challenges that have impacted daily lives to an unimaginable degree over the past decade. He added that the pandemic has changed the way everyone works and lives, and that conflicts have had a profound impact even on distant societies, which is proof of how deep globalization has now become.

EAM emphasized that the increasing frequency of extreme climate events and the continued erosion of natural habitats create both short- and long-term concerns.

Jaishankar said at the event that the graduating class should consider themselves lucky as they are destined to achieve the goal of ‘Viksit Bharat’.

“You are the beneficiaries of a decade of solid progress. You have gained through access to technology and information unimaginable a generation ago. Today, India is ready to take a step forward in its development journey, and your group will be among those who will lead this effort,” he said.

But EAM also warned that they would graduate during a time of unprecedented change.

Highlighting the evolving role of India’s foreign policy, he said Indian manufacturers are increasingly focused on expanding market access, securing critical resources and technologies and supporting Indian citizens abroad, especially in times of crisis.

The official added that the country is promoting “Brand India” globally, which is essential for the country to be perceived as a reliable and trustworthy partner.

Puneet Dalmia, Chairman of IIM Raipur, and Professor Sanjeev Prashar, Principal Director of the institute, were also among those present.