‘Petrol price would be…’: Jaishankar on importance of good foreign policy

External Affairs Minister Dr S Jaishankar on Monday said that India’s trade with Russia has seen a boost in the aftermath of the Ukraine conflict.

During an interaction with students at the National Institute of Technology in New Delhi, Jaishankar stressed on the need to prioritise the interests of the Indian people in diplomatic engagements.

The minister explained the notable shift in Russia’s trade relations with the West. He highlighted that Russia, whose main economic partner was previously Western countries, has now turned its focus towards Asia. India’s trade with Russia has witnessed substantial growth, with last year’s trade volume amounting to $40 billion compared to $12-14 billion before the Ukraine conflict.

Addressing concerns about Russia’s engagements with other countries in Asia, Jaishankar urged a focus on maintaining India’s relationship with Russia while ensuring the best interests of the Indian people are served. He emphasised that Asian economies are emerging as partners and India should not overly worry about Russia’s engagements with other nations.

“So, you will see the Asian economies become partners. I think we should not worry too much about what they are doing with other countries. We should keep our own relationship with Russia going and see how the interest of the Indian people is best served,” Jaishankar said.

Furthermore, Jaishankar also explained how foreign policy decisions have a direct impact on daily life. He emphasised that a sound foreign policy helps keep prices of essential commodities such as petrol and cooking oil in check, thereby benefiting consumers. He highlighted the importance of maintaining a robust foreign policy to safeguard the interests of the Indian population.

India has strongly defended its decision to import crude oil from Russia despite sanctions imposed by the West due to Moscow’s actions in Ukraine. Jaishankar reiterated that India, with a per capita income of $2,000, has a responsibility to secure the best deals for its people.

In response to European disapproval of India’s oil imports from Russia, he pointed out that the European Union has imported significantly more oil and gas from Russia compared to India.

In another interaction, a video of which went viral, Jaishankar had said, “Europe has to grow out of the mindset that Europe’s problems are the world’s problems, but the world’s problems are not Europe’s problems.”

Regarding India’s position on the Ukraine conflict, Jaishankar affirmed that India’s stance, articulated by Prime Minister Narendra Modi, is one of promoting dialogue and diplomacy as the means to resolve conflicts. He reiterated that this is not an era of war and that dialogue remains the answer to addressing conflicts effectively.

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