India has delivered on its promise of a collaborative future by distributing vaccines to more than 70 countries, with another 40 on the way. Speaking at the Asia Economic Dialogue 2021 on the subject of Post-Covid-19 Global Trade and Finance Dynamics, Jaishankar said. The Ministry of External Affairs and the Pune International Centre are hosting the AED 2021.

 

In the last year, India has faced three big challenges: Covid-19, economic inequality, and boundary issues, all of which have been resolved with successful interventions, according to Jaishankar. “We were able to withstand the devastating effects of Covid-19 by implementing early shutdown, social distancing, and applying strict discipline," the minister said, defining India's aim of self-reliance as critical to building economic strength in a post-Covid environment.

 

Highlighting the importance of micro, small and medium-sized enterprises in driving this development, Jaishankar said that there is a need for governments to support companies in their countries, especially small and medium-sized enterprises. “Every government in the world does it, but we haven't done it enough in India, and I believe that is changing. In India, this knowledge is acute.,” he added.

 

Jaishankar urged Australia and Japan to work with India to revive the global economy, emphasizing the importance of establishing an equal global trading order. During a debate on free trade, he said, "Trade between nations must be on a level playing field."

 

Australian foreign minister Marise Payne elaborated on Australia's challenges in terms of openness in free trade, access to the multilateral trade agenda, and improving supply chain infrastructure, calling for a balance of self-reliance and trustworthy partnerships at the international level to tap the best use of modern technology, artificial intelligence, and quantum mechanics as a buffer against threats.