New Delhi, October 5 (Daily Kiran) : Foreign Minister S. Jaishankar expressed optimism on October 5 about the proposed India-U.S. bilateral trade agreement, describing it as a significant step with vast potential. Speaking at the ‘India and the World: Adaptive by Design’ economic conclave in New Delhi, he emphasized that this agreement could greatly enhance access to one of the world’s largest and most lucrative markets, thereby boosting India’s economy.
Jaishankar pointed out that while issues in the global trade system cannot solely be blamed on Washington, it is essential to assess the various sources of market disruptions fairly. He reiterated that the United States is India’s primary economic, trade, and defense partner. The recent trade agreements with the European Union, the UK, and the European Free Trade Association are expected to help balance India’s trade relations.
He noted that India’s previous free trade agreements primarily focused on ASEAN countries, Japan, and South Korea. Therefore, it is crucial for New Delhi to diversify its trade towards more transparent and mature markets with higher purchasing power.
Furthermore, Jaishankar highlighted India’s strengthened relationships with China, Russia, and Gulf nations. This approach, termed ‘multi-alignment,’ aims to advance multiple relationships based on shared opportunities and challenges. He asserted that each relationship benefits India overall, making it easier to promote its interests on various fronts.
The Foreign Minister also condemned attacks on civilian vessels as “completely unacceptable,” regardless of whether they occur in the Black Sea, Red Sea, or Gulf region. He emphasized that resolving the Russia-Ukraine conflict should be pursued through dialogue and diplomacy.
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