'Unpredictability' possible in Trump tenure: Jaishankar
With just a few weeks to go before Donald Trump takes over as the next US President, External Affairs Minister S Jaishankar on Monday warned that a degree of 'unpredictability' is possible and added there would be a 'give and take' between major economies like India and the US.
Addressing the Confederation of Indian Industry (CII) Partnership Summit 2024, he spoke about the upcoming change in regime in the US.
“Administration (during Trump's upcoming tenure) is also obviously a major consideration in business circles. Obviously, the only safe prediction is a degree of unpredictability”, Jaishankar said.
Different countries have had their own experiences from the first term of Trump (2017-21) and would presumably draw from that to approach the second term, Jaishankar argued.
On India-US ties he said, “I can state with confidence that the strategic convergences with the United States have only grown deeper with time”.
They have created a larger environment in which more collaborative possibilities can be explored. “Naturally, between two major economies, there will always be some give and take.”
On future ties with the US, Jaishankar said in case of economic or technology domains, the case for trusted and reliable partnerships have actually increased in recent years.
“A lot of what lies ahead would be in fashioning terms of engagement that are perceived as mutually beneficial. And in that regard, the more that India can bring to the table, the stronger our appeal,” Jaishankar explained.
The reality on the ground is that India and US economies and societies are closer linked than ever before. During periods of stress – Covid, Ukraine aftermath or financial difficulties – the two have stood together for collective benefit.
On increasing businesses, Jaishankar said the Modi government has facilitated the process by addressing longstanding challenges in respect of infrastructure and logistics. Today, the pace at which rail and road, ports and airports are being built is appreciated even beyond our borders, he said, mentioning how 12 new industrial nodes are part of the growth story.
Jaishankar opined that economic rebalancing has begun to acquire strategic connotations. Surpluses were now translated into influence, if not dominance. The US-China friction has assumed a salience that could not have been envisaged, just a few years ago. The Ukraine conflict has created its own ripples, reflected in food, fuel and fertilizer insecurities. The Global South is also feeling the brunt of inflation, debt, currency shortages and trade volatility.
