Jaishankar calls to "de-risk" global economy, says economic security is "paramount"

New Delhi [India], January 16 (ANI): External Affairs Minister S Jaishankar on Thursday underscored the importance of economic security, calling it "paramount" and stressing the need to de-risk both national and global economies amid an uncertain international economic environment.
Speaking during his opening remarks at the 18th India-Japan Strategic Dialogue with Japanese Foreign Minister Toshimitsu Motegi, Jaishankar said India places a very high priority on its partnership with Japan, which has evolved over the past two decades into a broad, comprehensive and strategic relationship.
"India attaches very great priority to its friendship with Japan. And over the last two decades, we have been successful in transforming the relationship from what was primarily an economic relationship into one that is broad, comprehensive, and strategic in its focus," Jaishankar said, referring to cooperation in platforms such as the Quad, the United Nations, the G4 grouping and the G20.
Highlighting the shared Indo-Pacific vision, Jaishankar recalled that a former Japanese prime minister's address to the Indian Parliament laid the foundation for the Indo-Pacific as a political, economic, and strategic construct.
"Much, much time has passed, but the relationship today sees that our initiative, what we call MAHASAGAR and vision for the Indo-Pacific align closely with your free and open Indo-Pacific outlook," the EAM said.
Jaishankar was referring to Former Japanese Prime Minister Shinzo Abe's landmark "Confluence of the Two Seas" speech at the Indian Parliament in 2007 where he outlined a vision that later evolved into the modern Indo-Pacific framework, emphasising openness, connectivity and shared prosperity across Asia and beyond.
In his address, Abe said that closer cooperation between Japan and India would help shape a "broader Asia" into an extensive network spanning the Pacific Ocean, incorporating countries such as the United States and Australia, which he envisioned as an open and transparent regional order that would enable the free flow of people, goods, capital and knowledge.
Jaishankar, describing India and Japan as leading democracies and major global economies, said both countries have an obligation to help shape the global order.
Emphasising economic security, Jaishankar said the dialogue would focus on resilient supply chains, critical minerals, and ways to address energy, health, and maritime security.
"We are leading democracies. We are the major economies of the world. And we have today not just an opportunity but also an obligation, a duty, to shape the global order. And in the current uncertain global situation, it's even more important that we work closely towards shared strategic goals," the EAM said.
"Economic security today is particularly paramount. Both our countries attach enormous importance to it. And how to de-risk our own economies and how to de-risk the international economy are both very important. We will be discussing resilient supply chains, critical minerals, and how to address energy, health, and maritime security in our talks today," he added.
Jaishankar also noted that India and Japan will mark 75 years of diplomatic relations next year, expressing confidence that the special, strategic and global partnership will continue to strengthen.
"In our bilateral discussions, I hope to address key priorities in our ties," EAM said.
EAM's remarks come during his Japanese counterpart Toshimitsu Motegi's visit to India from January 15 to January 17, as per the Ministry of External Affairs (MEA).
The meeting follows PM Modi and Japanese PM Sanae Takaichi's meeting in Johannesburg earlier this year on the sidelines of the G20 Leaders' Summit in South Africa. (ANI)