India’s External Affairs Minister, S. Jaishankar, said on Wednesday that a lot of countries are using tariffs and export controls like weapons in trade. This means that India needs to find trade partners who are more trustworthy, reliable, and open. Speaking at a big conference about global politics called the Raisina Dialogue, Jaishankar didn’t mention US President Donald Trump directly, but he pointed out that countries use tariffs and sanctions, and these have become common over the last ten years.
Jaishankar talked about how countries are getting more careful about business decisions. It’s not just about saving money – it’s also about safety and trust, especially in today’s digital world. For example, India is negotiating trade deals with the US, UK, and the European Union, which are important partners for business and technology. However, as countries consider safety more than ever, India must make sure its trade choices reflect that.
He highlighted the importance of handling data carefully, saying we can’t just ignore where our data goes or who uses it. Reliability and trust are becoming essential, especially with the growing competition among countries in business and technology.
Jaishankar added that India should use its strengths, like having a large population and a lot of data, to benefit from trade and technology. When asked about what the US is trying to do in the world, he said it’s important to focus on engaging with the US and other countries to improve India’s trade and technology.
During the same discussion, Joel Kaplan from Meta mentioned that the Trump administration supports American tech companies. He talked about how the US wants to promote its technology and protect its companies from rules that they see as unfair, especially in Europe.
Pierroberto Folgiero, the CEO of an Italian shipbuilding company, stressed the need for advanced technology in shipbuilding. He noted that countries need to improve in this area to stay competitive against China and South Korea, both of which dominate global shipbuilding. He believes India has the potential to play a significant role in this sector because of its engineering and manufacturing skills.
Marianne Demarchi from Swift pointed out the risks that digital payment systems and digital currencies pose to global economic growth, especially if they don’t work well together.
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