Overview On November 29, 2025 , External Affairs Minister S Jaishankar addressed a gathering at IIM-Calcutta after receiving an Honorary Doctorate. He stated that politics increasingly "trumps" economics in the modern era, reflecting a shift in global dynamics. Key Developments Shifting Global Order Politics over Economics: Mr. Jaishankar emphasized that political considerations are increasingly overriding economic factors in international relations. US Strategy: The United States is adopting a strategy of engaging with countries on a one-on-one basis, marking a departure from its traditional role as the underwriter of the contemporary global system. China's Approach: China continues to operate by its own rules, influencing the global landscape with its unique approach. India's Response Self-Reliance: India is actively pursuing self-reliance to strengthen its economic and strategic position. Manufacturing Hub: Efforts are underway to transform India into a major manufacturing base for various industries. Infrastructure Development: India is making significant advancements in infrastructure and scientific developments. UPSC Relevance This news is relevant for the UPSC Civil Services Exam , particularly for GS Paper 2 (International Relations) and GS Paper 3 (Economy) . It highlights the changing dynamics of global politics and economics, and India's strategic response to these changes. Potential UPSC Questions Discuss the implications of politics increasingly influencing economic decisions in international relations. Evaluate India's strategy of self-reliance in the context of a changing global order. Analyze the impact of the US's one-on-one engagement strategy on multilateral institutions. Important Facts Date: November 29, 2025 Event: S Jaishankar's address at IIM-Calcutta Key Statement: Politics increasingly trumps economics India's Focus: Self-reliance and manufacturing base