External Affairs Minister S. Jaishankar said global trade is facing major disruptions due to “tariff volatility,” a clear reference to Washington’s changing trade policies. Speaking at Jawaharlal Nehru University’s first Aravali Summit, he explained how shifting global power, technology, and supply chains are reshaping the world economy.
Jaishankar pointed out that one-third of global manufacturing now sits in one country, hinting at China. This heavy concentration, he warned, increases risks for supply chains and global trade stability. He also noted growing anti-globalisation feelings, the rising weaponisation of technology, and tighter controls on critical minerals.
He highlighted how the global energy scene has changed with the US becoming a big fossil fuel exporter and China pushing ahead in renewables. Big Tech companies now play strategic roles, while sanctions, asset seizures, and crypto are transforming global finance.
Jaishankar stressed that India must protect its interests but also rise steadily in this unpredictable environment. He said the key is to de-risk engagements while being ready to take risks when needed. Responding to students, he explained that India’s foreign policy is neither neutral nor aligned blindly, but always guided by national interest above all.
