'Grim forecast for next 5 years': S Jaishankar on current global challenges

EAM S Jaishankar acknowledged that, despite his generally optimistic outlook, the world is currently facing an exceptionally challenging period

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External Affairs Minister S Jaishankar on Tuesday cautioned that the global outlook for the next five years would be “very grim.” He attributed this forecast to the ongoing conflicts around the world, including the war in Ukraine, the Israel-Palestine conflict, and the impact of the Covid-19 pandemic.

Jaishankar acknowledged that, despite his generally optimistic outlook, the world is currently facing an exceptionally challenging period.

“....there is a very grim forecast for the next five years. It is because of what is happening in the Middle-East (West Asia), Ukraine, South Asia, the continued impact of Covid, many have not come out of it…." the foreign affairs minister said, while participating at the launch event of the ‘Indiaspora BCG Impact Report’ in Delhi.

CDS Chauhan cautions about global challenges

Last Thursday, Chief of Defence Staff (CDS) General Anil Chauhan remarked that the world is in its most violent phase since the Second World War.

While addressing a conference organised by the Federation of Indian Chambers of Commerce and Industry (FICCI) in Delhi, Chauhan noted the ongoing conflicts in countries such as Myanmar, Sudan, and Congo.

He said that while the war may have settled at some places, “lasting peace is still elusive.”

The cautious tone used by Indian officials comes at a time when the world is moving through a turbulent period. While the world was already dealing with the blow of the pandemic-induced lockdown and the Russia-Ukraine war, the raging Israel-Gaza war since last October has only made the situation worse.

Latest update on Israel-Iran tensions

With the recent escalation between Iran and Israel over the killing of a top Hamas leader in the Islamic country’s capital city Tehran, the situation may worsen as Iran is weighing a possible retaliatory attack against Israel. The assassination of Hamas official Ismail Haniyeh in late July has triggered fears over a potential wider escalation of the West Asia tensions. However, Israel has denied its involvement in the murder.

On Tuesday, suspected attacks by Yemen's Houthi rebels targeted shipping in the Red Sea. Houthis have been disrupting the shipping consignments, heading towards Israel, as a mark of their support for Palestine.

So far, Houthi assaults have disrupted the $1 trillion of goods moving through the crucial trade route.