Mumbai, Feb 17 (PTI): External Affairs Minister S. Jaishankar on Tuesday said India is deepening engagement with global partners from a position of growing strength, highlighting recent trade agreements as evidence of the country’s expanding economic and strategic influence. He also asserted that India’s reform process will continue without interruption.
Speaking at the Global Economic Cooperation conference in Mumbai, Jaishankar noted that the global landscape is undergoing rapid transformation across strategic, political, economic and technological dimensions. He said nations are increasingly witnessing the “weaponisation” of production systems, finance, market access and export controls, while uncertainties in global demand have increased due to the rise of bilateral tariffs.
According to the minister, long-standing assumptions about the global order are being challenged, creating a more volatile and unpredictable environment. In such circumstances, countries are focusing on reducing risk and diversifying partnerships across multiple sectors — an approach that is increasingly reflected in national policies worldwide.
Jaishankar emphasised that India’s economic security lies in strengthening self-reliance while building trusted international partnerships. He said India’s growing confidence is reflected in recently concluded trade agreements with several countries and regions.
The minister’s remarks come in the backdrop of recent developments in India’s trade relations, including a reduction in US tariffs on Indian goods following a phone conversation between Prime Minister Narendra Modi and US President Donald Trump. The tariff cut lowered duties from 50 per cent to 18 per cent.
However, the agreement has drawn political criticism. Leader of Opposition Rahul Gandhi alleged that the government compromised national interests through the deal, claiming it affected India’s energy security and farmers’ welfare — an allegation rejected by the government.
Jaishankar also referred to India’s ongoing trade engagement with the European Union, noting that negotiations on a proposed free trade agreement concluded last month and are expected to strengthen bilateral commerce. Over the past year, India has also finalised trade agreements with the United Kingdom, New Zealand and Oman.
Describing the current global phase as one of the most turbulent in recent memory, Jaishankar said the established global order is undergoing change, while new structures are yet to fully emerge. This transition period, he said, could remain complex, risky and unpredictable.
He added that India’s role in global production, services, technology, skills and knowledge sectors is set to grow further. In the evolving geopolitical environment, economic decisions are increasingly influenced by political and security considerations, particularly in the age of artificial intelligence.
Jaishankar observed that the United States is focused on reindustrialisation as part of its technological strategy, while China continues to expand its manufacturing and export capacity. Technology competition is intensifying globally, energy trade patterns are shifting, and migration issues are becoming increasingly sensitive.
“In this changing world, every nation will respond based on its own interests and calculations,” he said.
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