‘Distrust & diversify’: Jaishankar’s mantra to India Inc

External Affairs Minister S Jaishankar has proposed a four-point framework for businesses and policymakers to navigate a globally uncertain landscape marked by geopolitical tensions, supply-chain disruptions and market distortions. The first pillar, de-risking, advocates for minimizing exposure to potential disruptions. The second principle, diversification, emphasizes having multiple partners and sources of supply to lessen reliance on any single entity.

The third principle involves acknowledging and preparing for distortions in global markets, which are increasingly shaped by geopolitical choke points. The fourth and final principle suggests moving away from blind trust in systems and instead incorporating safeguards into business planning to account for the inevitability of disruptions.

Jaishankar argues that these strategies are applicable to both businesses and governments as geopolitical and economic uncertainty continues to dominate the present reality.