Connectivity, climate change, terror will impact future of businesses: S. Jaishankar
New Delhi: The building of connectivity, its principles and ownership, climate change and terrorism will be the three key issues impacting the future of businesses and economic activity in the world in the coming years, foreign secretary S. Jaishankar said on Monday.
In a speech to the PHD Chamber of Commerce, a business lobby group, in New Delhi, Jaishankar said that in India’s case, a “direct concern” was also the terms of its economic engagement with other nations.
“Our future is undeniably linked to the optimal utilisation of our vast human resources which leads us to skill enhancement and employment generation possibilities,” he said, adding that this will inevitably shape India’s dealings with the world.
“The global agenda till now has reflected the international power structure. That hierarchy is now changing and so too must the discourse. India’s interests dictate that its international commitments are both balanced and give due weightage to services and mobility. It is only if these interests are taken into account that we can arrive at win-win situations,” Jaishankar said.
India has been trying to negotiate free trade pacts with blocs like the European Union where the question of mobility of its nationals for work has been as an impediment to the speedy conclusion of a deal.
In his remarks, Jaishankar also noted that in the current global context, “economic factors are seen to be a more effective tool of shaping the world.”
“Whether it is opportunities like connectivity trade or investment or mobility or challenges like terrorism, climate change or maritime security, the conduct of diplomacy is increasingly dependent on economic capabilities and their effective deployment.”
Given the “re-positioning” and “re-balancing” of the world order with global development being challenged and many societies turning more insular. The global picture will be shaped by a new set of issues that includes the building of new connectivity that will particularly dominate Asia, Jaishankar said.
The allusion was to China’s multi-billion dollar Belt and Road Initiative which India has opposed mainly on sovereignty issues.
“The challenge of responding to climate change is another that will impact on the developmental profile of all states,” he said.
Besides this, terrorism which is approached by different countries in a segmented and opportunistic manner, was another threat to the global order, he added.