JAISHANKAR SAYS INDIA OPPOSES ‘WEAPONISATION OF MARKET SHARES’, CALLS FOR DIALOGUE AND RESILIENT SUPPLY CHAINS

BuzzBytes
New Delhi, May 24:
External Affairs Minister S. Jaishankar on Sunday said India firmly opposes the “weaponisation of market shares and resources” while outlining New Delhi’s broader approach towards ongoing global conflicts, international trade and economic stability.
Addressing a joint press conference in New Delhi alongside US Secretary of State Marco Rubio, Jaishankar listed five guiding principles shaping India’s position on major geopolitical and economic challenges.
“I would make five points here. One, that we advocate dialogue and diplomacy to address conflicts. Two, we support safe and unimpeded maritime commerce. Three, we demand scrupulous respect for international law,” Jaishankar said.
The External Affairs Minister further stated that India supports trusted global partnerships and resilient supply chains aimed at reducing vulnerabilities in the global economy.
“Four, we are against the weaponisation of market shares and resources. And five, we believe in the value of trusted partnerships and resilient supply chains to de-risk the global economy,” he added.
Jaishankar described Rubio’s ongoing India visit as “timely” and said discussions between the two countries had been “very productive.”
“So overall, this has been a very timely visit by the Secretary. I think our discussions have been very productive,” he said.
The remarks come amid increasing global concerns over supply-chain disruptions, geopolitical tensions, trade restrictions and maritime security issues linked to conflicts in regions including West Asia and Eastern Europe.
During the joint media interaction, Rubio reaffirmed the importance of the Indian community’s contribution to the United States economy and welcomed growing Indian investments in America.
“First of all, I accept the contribution that Indians have made to the US economy. Over USD 20 billion has been invested in the US economy by Indian companies. We want that number to continue to increase,” Rubio said.
The US Secretary of State also indicated that Washington intends to further strengthen economic and strategic cooperation with India while reforming its immigration and foreign investment frameworks.
Rubio is currently on a multi-day visit to India, during which both sides are holding discussions on defence cooperation, trade, technology, supply chains, energy security and regional stability.
The visit comes ahead of the upcoming Quadrilateral Security Dialogue foreign ministers’ meeting scheduled to be held in New Delhi later this month.