Higher trade and investment is engine of growth to global economy: External Affairs Minister Dr S Jaishankar

New Delhi: India is always concerned about the international community and thus higher trade and investment actually could lead to growth of the global economy, External Affairs Minister Dr S Jaishankar said on Saturday. The Minister was addressing the plenary session on ‘Role of Diaspora in Aatmanirbhar Bharat’.

“As you would all be aware, the objective of Atmanirbhar Bharat is to build greater national capacities so that we can make a stronger contribution globally. Even otherwise, this was a laudable goal. But the experience of the Covid pandemic has driven home the need for more trusted, resilient, reliable and redundant supply chains,” he said.

“Our objective may be to increase our own trade, investments and services; but they will surely contribute to a larger global rebalancing. An India with greater capacities can be an additional engine of growth for the global economy,” the Minister said adding, “It will also be a trusted partner and a reliable supplier, in line with global norms and practices”. Dr Jaishankar said, involving the diaspora in that endeavour is natural.

“To start with, they have always been enthusiastic contributors to nation-building. Secondly, as high achievers in their own societies, they can bring to bear resources, technology, best practices and Innovations to the task. Third, they help in giving this ambitious exercise a truly global footprint”. He said, the initial steps for Atmanirbharta were taken even during the course of the pandemic. and I think the Prime Minster in his address.

A bold scheme of production-linked incentives in 13 key sectors offers the potential of transforming manufacturing in the country. Equally important, it would have direct consequences for employment and inclusiveness, he said.

“These are all steps in the making of the New India and it is only appropriate that our diaspora is a full participant in that effort,” the Minister said. Dr Jaishankar further said India is consistently making it easier to do business today, both for domestic and global players.