New Delhi: Union External Affairs Minister S Jaishankar has said that country can strengthen and de-risk the global economy through more effective partnership. The minister also said that Covid-19 has reshaped the world by changing the perceptions and calculations of nations about each other and the world. The pandemic has also reconfirmed the value of trust and transparency and the importance of reliable supply chains. The union minister said this while addressing 26th ‘Future of Asia’ Conference organized by Nikkei.
“Covid-19 has certainly triggered debates on issues like supply chains, global governance, social responsibility and even ethics. But for many of us gathered here today, it equally encourages an objective assessment of the contemporary world so that we are better prepared for tomorrow,” he said.
“India, on its part, can help strengthen and de-risk the global economy through more effective partnerships. With Japan and Australia, we are working on a supply chain resilience initiative. Where the Quad arrangement that also involves the US is concerned, its agenda today covers vaccine collaboration, critical and emerging technologies, semi-conductors, supply chains, critical materials and connectivity, amongst others. Recent Indian summits with the European Union and the United Kingdom, that saw advancement on FTAs, are also noteworthy in that regard,” the minister added.
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“If India is to make a real contribution to Asian and global economic recovery, it can start by helping itself more. Even while the Covid-19 was ongoing last year, bold reforms were undertaken in industry, agriculture, labour and education. Perhaps most relevant to this audience are the production-linked incentive (PLI) schemes to attract manufacturing in 13 sectors: mobiles and electronic components, KSM and APIs for pharmaceuticals, medical devices, electronic and technology products, drugs, telecom and networking products, food products, white goods, high efficiency solar PV models, auto and auto components, ACC battery, textile products and speciality steel”, he added.
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