EAM’s remarks during Asia Economic Dialogue (February 26, 2026)

Dr Raghunath Mashelkar,
Amb. Gautam Bambawale,
Distinguished Guests,
Ladies and Gentlemen, dear Students,

It's a real pleasure to address the 9th edition of the Asia Economic Dialogue.. Over the years, this conversation has established a reputation for discussing geo-economics and contemporary developments shaping it. I am glad that it is doing so this year focusing on three key variables: tariffs, technologies and strategic alignments.

Since its last edition, we are all experiencing a world under increasing churn. Longstanding assumptions about the very nature of international relations are under question. Some of these shifts were inevitable, particularly where growth has been uneven and gains concentrated. But we are also witnessing deliberate choices that leverage, weaponize and enhance uncertainty.

Friends,

The era of linear globalisation is behind us. Decisions of economic nature are now based more on considerations of politics and security. Indeed, re-industrialization is itself envisaged as a compelling strategic requirement. Technologies, capabilities and resources are therefore now assets aimed to be deployed accordingly. Artificial Intelligence, semiconductors, data and critical minerals are no longer viewed only as drivers of growth. They are also instruments of national power.

At the same time, the truth is that many of the problems of today have been in the making for the last two decades. There has been a gaming of the world trading system. Connectivity has been purposed for national advantage. Rules have been cited and observed selectively. And, market shares have been leveraged for non-economic purposes.

The challenges of Covid, conflicts and climate change have also brought into focus the fragility of supply chains, and the imperatives of food, health and energy security. Resilience has emerged as the overriding goal. Governments and businesses are asking how much they are prepared to invest to avoid excessive dependence. These debates are today visible in trade arrangements, investment relationships and supply-chain diversification efforts.

Friends,

For a large country like India, it is critical to intensively engage its international partners while steadily expanding its comprehensive national power. Our interest lies in fostering trade, mobility, production, services, technology, skills and talent partnerships. Similarly, partnership in critical minerals supply chains, migration and mobility agreements and advanced manufacturing are being enabled with key international players. The recently held AI Impact Summit 2026 brought out the potential of building on our digital capabilities and enormous talent to successfully diffuse AI technologies.

This decade has already been a turbulent one with a promise of much more to come. India has dealt with its challenges through nimble, grounded and practical policies at home. These have been mirrored by more confident and mutually beneficial approach to global negotiations. I am confident that this gathering will deliberate on these and other issues. I look forward to sharing the outcomes of your discussions. I wish the conference success.

Namaskar

February 26, 2026