External Affairs Minister S Jaishankar has sent out a clear message on the issue of investments from China, stating that India as a country can’t compromise its national and economic security in the name of opening up the economy. Jaishankar said that India is well within its rights to safeguard the interests of its manufacturers, especially small and medium-sized enterprises (SMEs), as well as the labor force and working classes.
“Every country today has the right to manage sensitive sectors in consonance with national security.I cannot, in the name of open economy, open up my national security to work with a country which is laying claim on my territory. Both our economic and national security are at stake,” Jaishankar told ET in an interview.
Jaishankar was asked about PM Narendra Modi’s recent remarks on ties with China and whether one can expect nuanced shift post-elections that will allow for more investments. He noted that in a recent interview with Newsweek, the prime minister characterized the current state of relations with China as abnormal, emphasizing the need for normalcy, which can only be achieved through peace and tranquility along the border.
This stance aligns with our consistent policy, and there appears to be no compelling reason to deviate from it. After all, without peace and tranquility on the border, it is challenging to maintain functional relations with any neighboring country, Jaishankar said.
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On the economic issue, he said, “I get a lot of lectures about why are you being protectionist in this globalised world? But I will take whatever defensive measures I have to in the interest of the working class whose jobs are at stake. People who give this lecture are not connected with the real economy, society.” “As someone who spends a lot of time with SMEs, who has lived in Noida for most of my life, I can tell you how strong that sense of resentment is today about dumping of goods from China. We will do what it takes,” he added.
Commenting on Apple sourcing its components from China, Jaishankar said that Apple’s performance has been remarkable, and they are thriving in the current market. “I assure you that whether it was Apple or anybody else in a similar situation, we’re not impractical people. Don’t get me wrong. We want to see global companies come to India. If global companies have prior vendors and supply chains, we are not impervious. Nobody has said that Chinese companies cannot come to India,” he said.
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“On the contrary, we only said we will examine, scrutinise, try to understand who is coming here for what. I would actually point to Apple as a case which has had a good experience in India, not a difficult one,” he added.
“Every country today has the right to manage sensitive sectors in consonance with national security.I cannot, in the name of open economy, open up my national security to work with a country which is laying claim on my territory. Both our economic and national security are at stake,” Jaishankar told ET in an interview.
Jaishankar was asked about PM Narendra Modi’s recent remarks on ties with China and whether one can expect nuanced shift post-elections that will allow for more investments. He noted that in a recent interview with Newsweek, the prime minister characterized the current state of relations with China as abnormal, emphasizing the need for normalcy, which can only be achieved through peace and tranquility along the border.
This stance aligns with our consistent policy, and there appears to be no compelling reason to deviate from it. After all, without peace and tranquility on the border, it is challenging to maintain functional relations with any neighboring country, Jaishankar said.
Also Read | ‘Never before in Indian history…’: Economist Surjit Bhalla says unprecedented number of jobs created under Modi government
On the economic issue, he said, “I get a lot of lectures about why are you being protectionist in this globalised world? But I will take whatever defensive measures I have to in the interest of the working class whose jobs are at stake. People who give this lecture are not connected with the real economy, society.” “As someone who spends a lot of time with SMEs, who has lived in Noida for most of my life, I can tell you how strong that sense of resentment is today about dumping of goods from China. We will do what it takes,” he added.
Commenting on Apple sourcing its components from China, Jaishankar said that Apple’s performance has been remarkable, and they are thriving in the current market. “I assure you that whether it was Apple or anybody else in a similar situation, we’re not impractical people. Don’t get me wrong. We want to see global companies come to India. If global companies have prior vendors and supply chains, we are not impervious. Nobody has said that Chinese companies cannot come to India,” he said.
Also Read | Sanjeev Sanyal’s UPSC reality check: Dream to be Elon Musk, or Mukesh Ambani, why a Joint Secretary?
“On the contrary, we only said we will examine, scrutinise, try to understand who is coming here for what. I would actually point to Apple as a case which has had a good experience in India, not a difficult one,” he added.