During his address at the India-Russia Business Forum in Moscow, External Affairs Minister S Jaishankar stressed the critical importance of nurturing dependable and steady international partnerships, particularly in light of recent global upheavals.

Reflecting on challenges such as international conflicts, political and economic volatility, evolving technology, and trade instability, Jaishankar articulated pivotal lessons for India and the broader community.

Among his chief concerns was the risk of over-dependence on a narrow set of markets, pointing out that excessive reliance on limited trade partners and supply chains can leave economies dangerously exposed to sudden shocks and disruptions.

Jaishankar identified several key takeaways. First, he underscored the value of having trustworthy and consistent partners who can be relied upon in times of crisis. He also highlighted the need for shorter, more secure supply chains that minimise vulnerabilities associated with logistical bottlenecks or political disruptions.

Critically, he warned against the dangers of being over-exposed to only a few suppliers, noting how such concentration can amplify risks in both procurement and production. Alongside this, Jaishankar argued for the development of broader and more resilient networks in connectivity and logistics to better withstand regional or global emergencies.

Moreover, Jaishankar emphasised the "costs of insufficient research" into new business opportunities and the risks of neglecting emerging domains and partnerships. He suggested that the global challenges faced in recent years should prompt both introspection and proactive strategizing, urging stakeholders to look beyond conventional markets and channels and persistently explore innovative collaborations.

Addressing the longstanding relationship between India and Russia, Jaishankar described the partnership as both consolidated and evolving.

He noted the "solid foundation of a time-tested relationship" but acknowledged that both countries now face profound economic changes and new uncertainties due to a transforming global environment. Growth and deeper cooperation, he said, are no longer simple, linear processes; instead, they demand adaptive strategies and resilience.

Jaishankar's three-day Russia visit, which includes co-chairing the India-Russia Inter-Governmental Commission for Trade, Economic, Scientific, Technological, and Cultural Cooperation (IRIGC-TEC), is intended to fortify this strategic partnership further.

He is also scheduled to meet Russian Foreign Minister Sergey Lavrov to review bilateral relations and global developments. The sustained objective of these engagements is to reinforce the enduring and privileged India-Russia relationship, preparing it to meet contemporary challenges through diversified and forward-looking cooperation.

Based On ANI Report