EAM S Jaishankar says India key driver of global growth amid economic uncertainty
India has emerged as a major contributor to global economic growth despite rising global uncertainty, External Affairs Minister S. Jaishankar said during an address at the University of the West Indies in Jamaica.
Highlighting the current global environment, Jaishankar noted that the world is witnessing unprecedented levels of volatility and unpredictability due to ongoing conflicts and economic disruptions.
“In today’s uncertain and unpredictable economic conditions, India stands out as a significant contributor to global growth,” he said.
Citing estimates by the International Monetary Fund, Jaishankar stated that India is expected to account for around 17 per cent of total global economic growth this year, making it the second-largest contributor worldwide.
He also emphasised the growing importance of Global Capability Centres (GCCs), describing them as a key model in a world where the movement of people is increasingly sensitive. India, he said, has positioned itself as a leader in this space.
“At present, India hosts nearly 1,800 GCCs, with exports valued at around $70 billion annually, and the sector continues to expand rapidly,” he added.
Commenting on geopolitical trends, Jaishankar observed that the world is becoming more inward-looking, with countries prioritising their own interests more aggressively.
However, he stressed that India is demonstrating that national interests and global welfare can go hand in hand, contributing positively to the international community while advancing its own development.
Jaishankar is currently on a multi-nation tour of the Caribbean, including Jamaica, Suriname, and Trinidad and Tobago, aimed at strengthening India’s strategic and cultural partnerships in the region.
