India’s Strategic Energy Relationships: A Necessity for Future Security
S. Jaishankar advocates for India to establish diverse energy relationships as a response to global economic shifts. He emphasizes balancing energy needs with political realities and the need for a strategic approach in manufacturing and technology to de-risk the economy. His remarks highlight India’s unique position in global diplomacy as well as the importance of data security in the digital age.
External Affairs Minister S. Jaishankar emphasized the necessity for India to cultivate a diverse array of energy relationships, considering its status as the world’s fifth-largest economy. Speaking at a recent Business Today event, he indicated that the current global landscape is marked by industrial policies, export controls, and tariff disputes, challenging the long-advocated benefits of globalization.
Jaishankar pointed out that creating a favorable energy environment for future decades is a primary diplomatic objective for India. This objective encompasses not only fossil fuels but also an aggressive large-scale implementation of renewable energy sources and the exploration of small modular reactor technology.
He acknowledged the recent shift in India’s energy policy, particularly following the Ukraine conflict, where India prioritized its energy needs amidst international scrutiny. “Every nation did what was in their self-interest even (though) some professed otherwise,” he remarked, referring to India’s decision to import oil from Russia despite criticism.
Highlighting India’s unique position in global diplomacy, Jaishankar stated that the country can maintain relations with both Russia and Ukraine, as well as with other diverse geopolitical entities like Israel, Iran, and the democratic west. This adaptability is crucial as India navigates complex relations involving BRICS and the QUAD alliance.
In addressing the modern global economy, Jaishankar noted a shift towards de-risking strategies and the necessity for a more diversified approach to manufacturing and technology. He advocated for a redefined form of globalization—”more democratic, less risky”—that emphasizes fairness and resilience.
Concerns surrounding the digital realm and data privacy were also highlighted, emphasizing the importance of secure sourcing and collaboration in an era increasingly defined by AI advancements. Balancing market logistics with privacy and security is essential as stronger political ties impact international relationships, he concluded.
In summary, External Affairs Minister S. Jaishankar articulated the importance of India fostering a broad spectrum of energy relationships to secure its future energy needs. He acknowledged the implications of recent global conflicts on energy policy decisions while highlighting India’s diplomatic agility. The call for a diversified economic approach and secure digital frameworks reflects the changing landscape of globalization and the need for a robust strategic response.
Original Source: www.business-standard.com
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