External Affairs Minister S Jaishankar, while speaking on Donald Trump's second term as the US President and the associated implications for India, said that the strategic convergences between the two countries have grown deeper with time.
His remarks came while addressing the Confederation of Indian Industry (CII) Partnership Summit 2024 on Monday.
"The advent of the second Trump administration is also obviously a major consideration in business circles. Obviously, the only safe prediction is a degree of unpredictability," Jaishankar said.
The EAM further said different countries have had their own experiences from the first Trump administration and would presumably draw from that to approach the second.
"Where India is concerned, I can state with confidence that the strategic convergences with the United States have only grown deeper with time. They have created a larger environment in which more collaborative possibilities can be explored. Naturally, between two major economies, there will always be some give and take. When we look at economic or technology domains, the case for trusted and reliable partnerships have actually increased in recent years," he said.
According to the minister, a lot of what lies ahead would be in fashioning terms of engagement that are perceived as mutually beneficial. "And in that regard, the more that India can bring to the table, the stronger our appeal," he said.
Jaishankar also delved into broader aspect of free trade agreements (FTAs) and issues related to it. “In any economic conversation, FTAs inevitably arise as a possible avenue of partnership. There is much truth in that, but equally, grounds for some caution,” he said.
“A low per capita income country with small producers will have a natural reticence about excessive external exposure. This is all the more so if that exposure is to unfair, subsidised and large-scale competition.”
"The nature of commerce and supply chains in the world is such that orthodox precautions are not always adequate. Yet, it would be unwise to forego opportunities and limit access," he said.
The working principle, Jaishankar noted, has to be one of proceeding with caution.
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