India Engages Global Partners from Position of Strength as Reform Momentum Continues, Says S Jaishankar

Jaishankar Highlights Strategic Trade Deals and Economic Security Focus​

Mumbai, February 17: India is stepping up its global economic engagement from a position of confidence and capability, External Affairs Minister S Jaishankar said on Tuesday, asserting that the country’s reform trajectory remains firmly on track.

Addressing the Global Economic Cooperation conference in Mumbai, Jaishankar said the government’s reform momentum, which he described as the "reform express", will continue to move forward. He underlined that India’s growing confidence is reflected in a series of recently concluded trade agreements with key international partners.

"From a position of strength, India is engaging international partners more intensively. This is demonstrated in the recently concluded trade deals," he said.

Global Order in Flux as Production, Finance and Trade Face Weaponisation​

Jaishankar observed that the world is witnessing profound shifts across multiple dimensions. Strategic, political, economic and technological transformations are unfolding simultaneously, reshaping long-standing assumptions about global trade and cooperation.

He pointed to the weaponisation of production and finance, the leveraging of market share advantages and tightening export controls as defining trends of the current era. Adding to these pressures are uncertainties on the demand side driven by bilateral tariffs.

According to him, economic security today depends on stronger self-reliance combined with partnerships built on trust. He said that derisking and diversification across domains are emerging as central strategies for countries navigating a volatile environment.

"The established global order is clearly changing. Replacements are hard to create and we appear to be headed to a long twilight zone. This will be messy, risky, unpredictable, perhaps even dangerous," he said.

US Tariff Reduction and Political Criticism​

Following a recent phone conversation between Prime Minister Narendra Modi and US President Donald Trump, both sides announced a reduction of US tariffs on Indian goods to 18 per cent from 50 per cent.

However, Leader of Opposition in the Lok Sabha Rahul Gandhi criticised the trade understanding, alleging that the government compromised national interests, including energy security and farmers’ concerns.

Expanding Trade Network with EU and Other Nations​

Last month, India and the European Union concluded negotiations for a proposed free trade agreement aimed at boosting two-way commerce and deepening economic ties. Over the past year, India has also finalised trade deals with the UK, New Zealand and Oman, reinforcing its strategy of diversified trade partnerships.

Jaishankar said India will play a more prominent role in global production networks, services, technology, skills and knowledge. He noted that in the age of artificial intelligence, economic decisions are increasingly intertwined with politics and security considerations.

Rising Tech Competition and Shifting Global Priorities​

The minister also highlighted intensifying global competition in technology and the redefinition of energy trade flows. He said the United States is determined to reindustrialise, placing manufacturing and technology at the centre of its future strategy, while China’s manufacturing and export focus remains strong and may expand further.

He added that migration and mobility are becoming increasingly contentious, and new strategic mindsets are encouraging greater risk-taking, including through military means.

"Each nation and each society will respond as per their interests and calculations," Jaishankar said, underscoring the complex and unpredictable phase shaping the global economic and political landscape.