India’s External Affairs Minister Dr S Jaishankar, on Thursday, said that mitigating the pandemic demands international cooperation on a scale that could not have even been conceived of earlier. He was speaking at the 26th ‘Future of Asia’ Conference organized by Nikkei.
In his speech he also highlighted India’s efforts towards renewable resources, and goals achieved by the country while it urbanizes like the rest of the countries. He also spoke about the strong India-Japan partnership and COVID-19 pandemic that brought India together.
Pandemic a ‘black swan’ event
Terming the pandemic a ‘black swan’ event, Dr Jaishankar said that the pandemic continues to devastating course across geographies. While the world’s attention is focused primarily on the public health response, the economic consequences of the pandemic were of course immediately felt, though its social ones are now also starting to be realized, he said.
Speaking on the way Covid-19 is reshaping the world, he said that the pandemic is changing the perceptions and calculations of nations about each other and the world. Specifically, by:
(i) Bringing out the value of trust and transparency and the importance of reliable supply chains,
(ii) Heightening risk aversion in a world now clearly more insecure and encouraging strategic autonomy to address over-dependence,
(iii) Focusing on the need to create greater global capacities so that pandemic-scale challenges are more effectively met, and
(iv) By doing so promoting decentralized globalization and establishing resilient supply chains to de-risk the world economy.
“On the need for global effort, he said that as nations contemplate the world, there is no question that Covid-19 has moved the needle in the direction of risks as opposed to opportunity. This is reflected in national security acquiring a more expansive definition. In the past, defence, politics and intelligence drove calculations, with some extrapolation into domains like resources, energy or technology. With some notable exceptions, its demands were balanced out by the requirements of global exchanges, economic efficiency and perhaps by social habits. These trends, in fact, became stronger as the globalization mantra took deeper root.“ – Dr S Jaishankar
In parts of the world previously more sanguine about their own globalization, the concept of strategic autonomy has started to gain more traction. The efficiency of others may have strengthened bottom-lines in good times; they are now seen as too vulnerable in difficult ones. Disruptions also raised natural concerns about long-term reliability and resilience, he said.
Trust and transparency need of the hour
Speaking on concerns of trust and transparency, he said that opacity can no longer be overlooked as it has real implications for the rest of the world. Pluralistic societies remained more engaged with the world and international solidarity was stronger in the South. Those who saw the world also as a work-place rather than just a market-place had a deeper interest obviously in remaining connected. Global outlook of nations reflects their exposure to global supply chains. This holds true as much for priorities like vaccine production as for the larger economic routine.
Growing bilateral relationship between India and Japan
In his speech, Dr Jaishankar specifically mentioned about the growing bilateral relationship between India and Japan and “argued” that the partnership has been beyond Asia.
“In ensuring economic recovery of course Indo-Japan relations have a very notable role in fact one I would argue even beyond Asia. The partnership today is seen as among the most natural in the region and Japan is a valuable partner in India’s campaigns and Japan has consistently supported our infrastructure development. Japanese supported projects are the most successful infrastructure examples-most recently Delhi-Mumbai industrial corridor and the dedicated western freight corridor” – Dr S Jaishankar.
He also mentioned that “the long-standing FDI footprint in India is steadily expanding, covering 1455 companies as of 2021, more than half in manufacturing. New industrial collaborations are in the making even as we speak. Its contribution in skills enhancements is visible in 16 Japan-India Institutes for Manufacturing and 5 Japan Endowed Courses”.
Reviving India’s economy
While speaking further, S Jaishankar appreciated the implications of 140 million households in India that are moving into the middle class.
“We thus have a unique opportunity to embrace a greener and more technology-driven future. Let us appreciate the implications of 140 million households moving into the middle class even as another 20 million reaches a higher stage. The winds of change have been blowing in India especially in the last 7 years. They can make universal access to power, piped water and affordable housing realizable goals within a generation as India urbanizes like the rest of the world” – Dr S Jaishankar.
He also talked about the campaigns taken up by India including financial inclusion, educating daughters, digital India, clean India, skilled India, water mission, etc that enables the country to directly fund 400 million vulnerable citizens and provide food support to 800 million during the COVID challenge.
Moreover, as one of the few G-20 economies, India is aiming at a renewable target of 450 gigabytes by 2030 seeking to transform its energy and also adhering to its Paris commitment with 15% energy saving efficiency, further added Jaishankar.
He said that better international cooperation can also be facilitated by improved national capacities. So, if India is to make a real contribution to Asian and global economic recovery, it can start by helping itself, he said.
Greener India
Stressing upon India’s efforts towards a cleaner and greener environment, S Jaishankar highlighted that 18 million households are moving from biomass to LPG cooking and “being among the top 3 nations to expand forest cover”. The foreign minister further pointed out that “changes in the environment are parallel by progress in human resources”.
India builds more, it builds greener he said. A renewable target of 450GW by 2030 seeks to transform its energy profile. As one of the few G20 economies adhering to its Paris commitments, its 15% energy efficiency savings, its shift to LED lighting with more than 367 million bulbs, moving 80 million households from biomass to LPG cooking and being among the top three nations to expand forest cover in the last decade are examples of its seriousness.
International Cooperation
In conclusion, Dr Jaishankar said Covid challenge has certainly created a stronger case for greater international cooperation, be it in vaccine production or to facilitate economic recovery. Those with shared interests and common values will find it easier to forge stronger partnerships. To make a real difference, the global order must address the concerns and issues that the pandemic has thrown up, he urged.
Aayush Pal 
Sindhuri Sai