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