Jaishankar calls India's trade pacts with mature markets 'space to watch'

External Affairs Minister S Jaishankar has termed India's bilateral trade agreements as the 'space to watch', and said New Delhi in the last 11 years pursued trade pacts with countries that have 'more mature markets', and are more, 'transparent and rule bound' compared to the East Asian countries.
Jaishankar said India is now more interested in key free trade agreements. He said the one with the United Kingdom is more or less finalised, the one with the European Union is in advanced stages of negotiations and there have been several rounds of negotiations between the Indian and American officials for the bilateral trade agreement.
In an interview to public broadcaster DD India, a link of which the minister posted on X on Saturday (June 21), Jaishankar said in the years after the economic reforms, most of India's trade agreements were with Southeast Asian nations, which 'skewed the balance' as several of these economies competed with India and didn't market access. It was important to make the correction and have an understanding with more mature markets, which are more transparent and rule bound.
Jaishankar said India's trade pacts with the United Arab Emirates and Australia are significant achievements, describing New Delhi's push for FTAs as the 'space to watch'. In 2019, India did not join the Regional Comprehensive Economic Partnership (RCEP) trading block that comprises the 10-member Asean grouping, and other Asia-Pacific economies, including China, Australia and Japan.
He said India in the last 11 years has systematically tried to "deepen our posture, our strategic posture, to have good relations with all major countries, but also other regions, so that we get into the optimal position".
In the last 11 years, the EAM said, the consistent theme underpinning India's foreign policy has been planning for a multi-polar world, which India not only desires, as it gives it a higher profile and more influence. 'But it is not just the question of our wishes, that is the direction in which the world is moving,' he said, which is why New Delhi, despite enormous pressure on it, maintained its relationship with Russia, he added.
About India's ties with the US, he said, 'Where the US is concerned, yes, there is unpredictability, therefore at a systemic level, you stabilise it with as many linkages and relationships as possible.'
On India's relations with China, Jaishankar said, 'With China, if you have to stand up to that country and we have had some very difficult periods, (and) so it is important to prepare the capabilities.' The minister said a "really perplexing" aspect of India's China policy before 2014 was the 'complete neglect of our border infrastructure in the previous decades'.
'To have a China policy and neglect your border infrastructure was absurd,' he said. 'And, that is one of the things which has changed. We have today that standing up, in defence of our national interests, along the LAC. It is because we have built the border infrastructure to make that possible," Jaishankar said.
On India's ties with its immediate neighbours, Jaishankar said that India "should not expect smooth sailing" all the time. He said New Delhi has attempted to shape a 'collective interest' to build an inherent stability in relationships, irrespective of changes in regimes. At the end of the day, 'the logic every one of our neighbours must realise' is that working with India will 'give you benefits', and not working with India 'has a cost', he said.
'Some take longer to realise, some understand it better. One exception of course is Pakistan, because it has defined its identity under the army, in a way it has an in-built hostility in it. So if you put Pakistan aside, the logic will apply everywhere else,' the EAM said.

Try Our AI Features

Explore what Daily8 AI can do for you:

Learn with AIFact CheckingText to SpeechAI Summary

Related Articles

Hindustan Times

9 minutes ago

• Hindustan Times

Which lawmakers are backing War Powers Resolution against Trump? Full list

Following American airstrikes on three Iranian nuclear facilities, a fresh War Powers resolution has been tabled in the US House. As reported by Newsweek, the bipartisan resolution is backed by Rep. Ro Khanna, a Democrat from California, and Rep. Thomas Massie, a Republican from Kentucky. Their goal: to limit President Donald Trump's authority to engage in war without congressional approval. Over 45 Congress members are backing War Powers Resolution against Donald Trump.(AP) Also read: Iran Israel war news LIVE updates: Khamenei's advisor says US bases used in attacks are 'legitimate targets' The strikes were carried out on June 22 on Iran's Fordow, Natanz and Isfahan nuclear sites. Trump called the attack 'very successful.' However, the move raised alarms across party lines, with some lawmakers questioning its constitutionality and warning of a larger regional conflict. Democrats, Republicans raise constitutional concerns Massie stated, 'The Constitution does not permit the executive branch to unilaterally commit an act of war.' He stressed that Congress alone holds the power to declare war. Khanna, echoing similar views, said, 'Stopping Iran from having a nuclear bomb is a top priority, but dragging the U.S. into another Middle East war is not the solution.' Senator Tim Kaine, a Democrat from Virginia, introduced a companion bill in the Senate, reiterating the need for congressional authority before military escalation. Dozens of House Democrats back the measure The resolution has gained traction with over 45 lawmakers supporting it. Among them are Alexandria Ocasio-Cortez, Pramila Jayapal, Ilhan Omar, Jamie Raskin, and Bennie Thompson. The list also includes multiple representatives from California, Illinois, Texas and New York. Full List of Members of Congress Backing the War Powers Resolution Representative Ro Khanna, Democrat -California Representative Thomas Massie, Republican- Kentucky Representative Alexandria Ocasio-Cortez, Democrat -New York Representative Val Hoyle, Democrat- Oregon Representative Rashida Tlaib, Democrat- Michigan Representative Pramila Jayapal, Democrat- Washington Representative Donald Beyer, Democrat- Virginia Representative Lloyd Doggett, Democrat- Texas Representative Greg Casar, Democrat- Texas Representative Ayanna Pressley, Democrat- Massachusetts Representative Delia Ramirez, Democrat- Illinois Representative Summer Lee, Democrat- Pennsylvania Representative Ilhan Omar, Democrat- Minnesota Representative Jesus "Chuy" Garcia, Democrat- Illinois Representative Nydia Velazquez, Democrat- New York Representative James McGovern, a Massachusetts Democrat Representative Chellie Pingree, a Maine Democrat Representative Mark Pocan, a Wisconsin Democrat Representative Veronica Escobar, a Texas Democrat Representative Paul Tonko, a New York Democrat Representative Becca Balint, a Vermont Democrat Representative Bonnie Watson Coleman, a New Jersey Democrat Representative Henry "Hank" Johnson, a Georgia Democrat Delegate Eleanor Holmes Norton, a Washington, D.C., Democrat Representative Sara Jacobs, a California Democrat Representative Janice Schakowsky, an Illinois Democrat Representative Lateefah Simon, a California Democrat Representative Christopher Deluzio, a Pennsylvania Democrat Representative Gwen Moore, a Wisconsin Democrat Representative Mike Thompson, a California Democrat Representative Yassamin Ansari, an Arizona Democrat Representative Bennie Thompson, a Mississippi Democrat Representative Luis Correa, a California Democrat Representative Betty McCollum, a Minnesota Democrat Representative Marcy Kaptur, an Ohio Democrat Representative Mark DeSaulnier, a California Democrat Representative Stephen Lynch, a Massachusetts Democrat Representative Andre Carson, an Indiana Democrat Representative Mary Gay Scanlon, Democrat- Pennsylvania Representative Joaquin Castro, Democrat- Texas Representative Maxwell Frost, Democrat- Florida Representative Al Green, Democrat- Texas Representative Debbie Dingell, Democrat- Michigan Representative Jamie Raskin, Democrat- Maryland Representative Melanie Stansbury, Democrat- New Mexico Representative Sylvia Garcia, Democrat- Texas Representative Teresa Leger Fernandez, Democrat- New Mexico Representative Diana DeGette, Democrat- Colorado Senator Tim Kaine, Democrat- Virginia With Congress currently out of session, Khanna urged an immediate return to Washington for a vote. Whether the measure advances remains uncertain, given Republican control of both chambers. Iran's foreign minister condemned the U.S. strikes, calling them a 'grave violation' of international law. The country vowed to defend its sovereignty, leaving the possibility of retaliation open. FAQs What is the War Powers Resolution introduced by Ro Khanna and Thomas Massie? It's a House measure that seeks to block President Trump from taking further military action against Iran without congressional approval. How many lawmakers support the resolution? As of now, over 45 members of Congress, including one senator, have publicly supported it. Why did Trump strike Iran's nuclear sites? The US carried out the strikes after Israel warned that Iran was close to developing a nuclear weapon. Trump said the action was successful. Will the resolution succeed? It's uncertain. With Republicans in control of both chambers, the resolution faces major hurdles.

The Hindu

16 minutes ago

• The Hindu

U.S. travel advisory warns citizens of crime, rape, terrorism in India, urges ‘increased caution'

The U.S. has issued an advisory for its citizens travelling to India, urging 'increased caution' due to crime and rape, and advising them not to travel to certain parts of central and eastern parts of the country due to terrorism. The travel advisory issued last week states that 'rape is one of the fastest growing crimes in India' and violent crimes, including sexual assault, happen at tourist sites and other locations. It added that terrorists, who target tourist locations, transportation hubs, markets/shopping malls and government facilities, may attack with little or no warning. The advisory issued on June 16 further adds that the U.S. government has limited ability to provide emergency services to its citizens in rural areas, which stretch from eastern Maharashtra and northern Telangana through western West Bengal. The advisory also tells U.S. citizens not to travel to parts of Central and East India 'due to terrorism.' 'Maoist extremist groups, or 'Naxalites,' are active in a large area of India that spans from eastern Maharashtra and northern Telangana through western West Bengal,' the advisory said. Attacks against officers of the Indian government continue to occur sporadically in the rural parts of Chhattisgarh and Jharkhand that border with Telangana, Andhra Pradesh, Maharashtra, Madhya Pradesh, Uttar Pradesh, Bihar, West Bengal, and Odisha. Southwest areas of Odisha are also affected, it added. U.S. government employees working in India are required to obtain permission prior to travel to most areas in the States of Bihar, Jharkhand, Chhattisgarh, West Bengal, Meghalaya and Odisha. It said permission is not required for the capital of these States. 'U.S. government employees working in India also need approval to travel to the eastern region of Maharashtra and the eastern region of Madhya Pradesh,' it said. Also read: U.S. issues 'Do Not Travel' advisory for J&K after Pahalgam terror attack The U.S. citizens have also been advised against travelling to Manipur. 'Ongoing ethnic-based conflict has resulted in reports of extensive violence and community displacement,' it said, adding that the U.S. government employees working in India require prior approval before visiting Manipur. It also advised its citizens not to travel to the Union territory of Jammu and Kashmir, except for visits to the eastern Ladakh region and Leh, due to terrorism and civil unrest.

Time of India

16 minutes ago

• Time of India

Turbulence in West Asia hits global air travel

Following the bombing of Iran's nuclear sites, Air India and IndiGo are rerouting and cancelling flights to bypass Iranian, Iraqi, and Israeli airspace. These adjustments, impacting Gulf and European services, lead to longer flight times and cancellations due to pilot duty limits. Separately, major European airports face severe delays and cancellations due to staffing shortages and operational bottlenecks. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Global flight operations were disrupted with the bombing of Iran's nuclear sites by the US and Isarel. Indian carriers Air India and IndiGo are rerouting and cancelling flights to avoid Iranian, Iraqi and Israeli airspaces amid escalating tensions in the major European airports are reported severe delays and cancellations due to internal operational a statement on Sunday, Air India said it has stopped flying over Iran, Iraq, and Israel. "Amid escalating tensions in the Gulf region, Air India group confirms that our flights currently do not operate over the airspaces of Iran, Iraq, and Israel," a spokesperson airline will also start avoiding sections of the Persian Gulf airspace in the coming days. Flights to the UAE, Qatar, Oman, and Kuwait will now operate on longer longer flight times have forced cancellations. On Sunday, Air India cancelled its Delhi-Frankfurt (AI 2029) and Delhi-Zurich (AI 151) flights, along with their return legs, due to pilot duty time limits caused by extended routes, officials added."Air India is in continuous consultation with external security advisors and is closely monitoring the situation. Passenger and crew safety remains our top priority," the spokesperson has also adjusted its routes. The airline has cancelled flights to Baku, rerouted services to Istanbul with longer flying times, and added a refuelling stop in Doha for flights to Tbilisi to avoid Iranian airspace, sources route changes are limited to Gulf and European services directly impacted by the regional security a separate wave of disruptions affected Europe's busiest airports. Over 300 flights were delayed or cancelled on Sunday at London Heathrow, Amsterdam Schiphol, and Paris Charles de Gaulle. Airlines impacted include Air France, American Airlines, Oman Air, Singapore Airlines, Qatar Airways, Emirates, and United delays were not linked to the Gulf tensions or the rerouting by Indian carriers. Aviation agencies said the European congestion was driven by persistent staffing shortages, ground handling delays, gate allocation problems, and tight aircraft rotations.