NEW DELHI: External Affairs Minister S Jaishankar on Friday cautioned that the world is heading toward significant turmoil and economic disruption, driven by rising tensions between the United States and China over tariffs. He emphasised the need for India to stay vigilant and protect its own interests in the shifting global landscape.
Speaking at the Carnegie India Global Technology Summit in New Delhi on Friday, Jaishankar reflected on the broader consequences of the escalating tariff dispute between the world’s two largest economies. “Nothing is just about trade anymore. Nothing is purely business. Everything has become personal,” he said.
Commenting on the US-China rivalry and India’s evolving role, Jaishankar said: “We’ve experienced both ends of the spectrum when it comes to US-China relations. In the early decades after our independence, there was intense competition between the two, and India often found itself caught in the crossfire. Later, things shifted—there was deep collaboration between the US and China, and unfortunately, we were on the receiving end of that as well.”
Jaishankar said that world is entering an era of intense competition and strategic contestation, making it increasingly difficult for countries to plan effectively.
“...in the past, we could insulate sectors, saying, you know, this doesn’t matter; this is only trade, it’s not political, it’s not defence, it’s not sensitive. I think what is our definition of what is sensitive has expanded. Nothing is only trade anymore. Nothing is purely business anymore. Everything is also personal,” he said.
“So it’s kind of like a Goldilocks problem,” he quipped, implying that neither extreme—intense rivalry nor close cooperation between the US and China—has worked in India’s favour.
As geopolitical and economic lines continue to blur, Jaishankar stressed the need for India to rethink and broaden its definition of what constitutes strategic importance.
Referring to the Bilateral Trade deal with the US, External Affairs Minister S. Jaishankar said that India is approaching the negotiations with a renewed sense of urgency.
“This time around, we are certainly geared up for a very high degree of urgency. We see a window here and we want to seize that window. Our trade teams are really charged up. This is normally a complaint which in the past was made about us, that we are the guys slowing it down. Today, it is the other way around. We are trying to communicate that urgency on all three accounts,” he said.
