'India Sees Opportunity In Accelerated Reordering Of Supply Chains:' Jaishankar On US Election Results
Jaishankar listed out implications for the India-US relationship, stating that while some aspects may be disruptive, India views it as an opportunity.
External Affairs Minister S Jaishankar on Thursday reacted to the US election results, where Republican candidate Donald Trump emerged as the winner.
Jaishankar said that with the recent US elections, India sees a potential acceleration and disruption in re-ordering of supply chains as an opportunity.
The Union Minister listed out implications for the India-US relationship, stating that while some aspects may be disruptive, India views it as an opportunity.
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"To my mind, there are 4-5 important consequences for the relationship and the business aspect of the relations. First, there was already re-ordering of the supply chains which was taking place. It is very likely that in view of the election results in the US yesterday, that this would accelerate. I'll be very candid with you, that some of this will be somewhat disruptive, but we in India perceive it as an opportunity because we have missed the manufacturing bus in the 1990s, early 2000s," Jaishankar, who is on an official visit to Australia, told a media briefing.
#WATCH | Sydney, Australia | On US election results, EAM Dr S Jaishankar says, "To my mind, there are 4-5 important consequences for the relationship and the business aspect of the relations. First, there was already re-ordering of the supply chains which was taking, it is very… pic.twitter.com/ee1OxYhEtK
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Jaishankar said that there will be more geo-political hedging, "which will inevitably happen as a consequence of policies which we can safely predict - many more of us would be seeking more relationships to keep life stable".
Jaishankar said that the world would be moving to a much more integrated global workplace in the next few years.
"Even a US under Donald Trump will make a distinction in immigration and mobility for them. An economically-justified mobility will have to be fostered by those countries," he said.
"Digital payment platforms would become, in a sense, much more valuable, and which platform to use and share with whom, becomes an important question," the minister added.
Jaishnkar said that one of the changes after the US elections would be the mobility of talent and skills.
"Even as there is a reglobalisation or reworking of the current architecture. Apart from the technology changes, I think that the demographic unevenness of the world is beginning to bite us so that there would be economies where the demand would be high. In those countries, the talents may not be plentiful," Jaishankar said.
Jaishankar also stressed that the Trump administration can make a distinction between immigration and mobility.
"There will be economies where the demand will be high, the talents may not be plentiful and may be different in other places. So, how do you create and manage and optimise a global workplace? The global workplace doesn't mean that the talent alone has to move. Businesses can move as well," he added.
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