India’s Energy Diplomacy: A Diverse Approach for Economic Growth
External Affairs Minister Dr. S. Jaishankar stated that India must develop diverse energy relationships to enhance its economic position. He addressed the shift from globalization to current realities of industrial policies and emphasized the importance of a comprehensive energy strategy that includes both traditional and renewable sources. With India’s ability to engage globally, he called for adaptive economic policies amidst a changing global landscape.
On March 22, 2025, India’s External Affairs Minister, Dr. S. Jaishankar, emphasized the need for India to cultivate a diverse range of energy relationships to reinforce its position as the fifth-largest economy. He highlighted the shift from the promises of globalization to contemporary realities characterized by industrial policies, export controls, and tariff conflicts.
Dr. Jaishankar stated that developing a favorable energy environment is crucial for India’s diplomatic aims, encompassing not only fossil fuels but also large-scale renewable energy initiatives and potential advancements in small modular reactors. “The fifth biggest economy of the world must necessarily develop a broad and diverse set of energy relationships,” he asserted.
He elaborated that Indian embassies have become increasingly proactive in promoting national commercial interests by advising and facilitating business efforts. He referenced India’s energy policy decisions post-Ukraine conflict, explaining that nations prioritize their self-interests, a reality illustrated by India’s oil imports from Russia during that period, which received criticism from the West.
Dr. Jaishankar noted that India requires a comprehensive economic strategy, mentioning its unique ability to engage simultaneously with a range of nations including Russia, Ukraine, Israel, Iran, and members of BRICS and QUAD. He pointed out that BRICS fosters cooperation among emerging economies while QUAD involves diplomatic collaboration among Australia, India, Japan, and the United States.
Furthermore, he recognized a prevalent concern regarding the de-risking of the global economy, advocating for enhanced diversification in manufacturing, innovation, and trade aligned with food and health security. He described this shift as a movement towards “reglobalisation that is fairer, that is more democratic, that is less riskier than its earlier model.”
Dr. Jaishankar remarked on the ongoing reordering of global economic flows, indicating that India must optimize its strategies to benefit from these changes. He also underscored the insecurity in the digital realm regarding data sourcing and collaboration, particularly as the world embraces advancements in artificial intelligence (AI). He concluded that it is vital to balance market logic with a focus on privacy, security, and the significance of cultivating strong political relationships to foster efficiency and talent.
In conclusion, Dr. S. Jaishankar delineated India’s imperative to foster a broad array of energy relationships to sustain its economic status. He recognized the evolving challenges faced by globalization and emphasized the critical importance of diversifying energy resources, engaging in significant diplomatic partnerships, and adapting economic strategies. As the global landscape undergoes transformation, India must position itself advantageously to harness potential benefits while ensuring security and innovation in the digital economy.
Original Source: www.thehindu.com
Post Comment