Multipolar world requires multipolar economic order: Jaishankar

Citing risks associated with the concentration of global supply chains in a few countries, External Affairs Minister (EAM) S Jaishankar emphasized the need for a "multipolar" economic order on Tuesday.

Jaishankar is on three days visit to France to attend the European Union (EU) Ministerial Forum for Cooperation in the Indo-Pacific.

While addressing the French Institute of International Relations (IFRI) in Paris on the theme of 'How India sees France', Jaishankar said, "A multipolar world order requires a multipolar economic order. The pandemic has laid bare the concentration risk in international trade. Supply chains have become tools of political coercion. The prospects of technology de-coupling look real, even if they are in limited sectors."

He further argued that India would like to see France, a major power with a global outlook and an independent mindset, central to multipolarity and rebalancing of the global economic order, and also extremely responsive to India's concerns and priorities.

Highlighting the shared beliefs between the two countries in democracy and universal human values, he said, "Our interests are best served in a multipolar order."

Commenting on the contemporary and emerging challenges in the world, Jaishankar remarked that as the two countries "have now entered an era of turbulence the partnership now has greater salience in international relations".

On February 20, Jaishankar held talks with his French counterpart Jean-Yves Le Drian in Paris and exchanged views on the situation in Afghanistan, the Joint Comprehensive Plan of Action (JCPOA) and the evolving situation in Ukraine.

Last year, the EU adopted its Indo pacific strategy intending to increase engagement in the region. Through the policy, the bloc wishes to deepen its engagement with partners in the Indo-Pacific to respond to emerging dynamics that are affecting regional stability.