Jaishankar Highlights Shift Towards Multipolar World While Industrialised Economies Remain Key Investment Targets

External Affairs Minister S. Jaishankar highlighted the ongoing trend towards a more diverse, multipolar world. However, he emphasised that older, industrialised economies remain significant investment destinations. Speaking at the Aditya Birla Group's Scholarship programme's silver jubilee in Mumbai, Jaishankar noted that while many countries are uneasy about the US following Donald Trump's return, India is not among them.

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Jaishankar elaborated on the global power shift from west to east, stating that India exemplifies this change. He pointed to India's economic weight and ranking, as well as the global presence of Indian corporates and professionals. "Yes, there is a shift," he said, acknowledging the rebalancing of power dynamics worldwide.

India's Growth and Global Dynamics

Jaishankar explained that after gaining independence from colonial rule, countries began making their own policy choices, leading to growth. However, he noted that growth rates varied due to governance quality and leadership. "There is a constant and a variable," he remarked, highlighting the differences in development pace among nations.

Despite the shift towards a multipolar world, Jaishankar cautioned against overlooking industrialised western economies. He stressed their continued importance as prime investment targets due to their large markets and technological innovation hubs. "Let's recognise the shift but not overstate it," he advised.

India-US Relations and Leadership

Discussing India-US relations and Trump's election victory, Jaishankar mentioned that Prime Minister Narendra Modi was among Trump's first three calls. He praised Modi's ability to build rapport with multiple US presidents, attributing it to Modi's natural relationship-building skills. This has significantly benefited India-US ties.

Jaishankar acknowledged that many countries are nervous about the US but reassured that India is not one of them. "We are not one of them," he stated confidently. This sentiment reflects India's stable diplomatic stance amid global uncertainties.

Aditya Birla Scholarship Programme

Kumar Mangalam Birla, Chairman of Aditya Birla Group, spoke about investing in talent shaping the future. He described the scholarship programme as an ambition-driven initiative to create leaders excelling in India and abroad. "The Aditya Birla Scholarship is a tribute to my father's legacy," he said.

The scholarship programme, established in 1999 in memory of Aditya Vikram Birla, partners with 22 premier institutions like IITs and IIMs. Over 25 years, it has evaluated over 10,000 applications with a focus on excellence and diversity. Currently, there are 781 Aditya Birla Scholars across engineering, management, and law disciplines.

The programme's success is evident through its scholars' achievements over the years. It serves as a microcosm of India's abundant talent pool. "Investment in talent shapes the future," Birla emphasised, underscoring the programme's impact on nurturing exceptional leaders for India and beyond.