External Affairs Minister S. Jaishankar addressed United States President-elect Donald Trump’s warning of imposing 100 percent tariffs on BRICS nations. Speaking at the Doha Forum on Saturday, Jaishankar emphasized India’s commitment to maintaining a strong relationship with the US and clarified India’s stance on the dollar’s stability.
Jaishankar Highlights India-US Relations Under Trump
Jaishankar highlighted the robust ties between India and the US during Trump’s first term. He described the period as one of mutual growth, with significant progress in regional cooperation initiatives.
“We had a strong and solid relationship with the first Trump administration. Yes, there were some issues mostly trade-related, but there were a whole lot of issues on which actually President Trump was forward-leaning. And I remind people that it was under Trump that the Quad was restarted,” said Jaishankar.
The revival of the Quad, a strategic partnership between India, the US, Japan, and Australia, was noted as a major achievement in fostering regional stability and cooperation.
Modi-Trump Bond
Jaishankar attributed the growing strength of India-US relations to the personal rapport between Prime Minister Narendra Modi and President Trump. This bond has provided a foundation for political and economic collaboration.
“If you look at the Indo-Pacific today, it is an area where the United States made new commitments… I would say from our perspective there is a certain personal relationship between Prime Minister Modi and President Trump. In terms of politics, we really don’t have divisive issues,” Jaishankar remarked.
Jaishankar Clarifies India’s Position on BRICS and the Dollar
Responding to concerns about BRICS financial policies, Jaishankar stated that India is not in favor of weakening the US dollar. He dismissed speculation around a BRICS currency, underscoring India’s trade priorities.
“Where the BRICS remark was concerned… I’m exactly not sure what was the trigger for it. We have also said that India has never been for de-dollarisation. Right now, there is no proposal to have a BRICS currency… The United States is our largest trade partner, and we have no interest in weakening the dollar at all,” he affirmed.
Impact of West Asian Instability on India
Addressing the ripple effects of instability in West Asia, Jaishankar discussed how regional tensions are affecting India, particularly in terms of trade and shipping.
“We still have about half a million Indians who live in Mediterranean countries. We have a trade of about $80 billion with the Mediterranean… There is a larger regional instability which is actually growing month on month. It is impacting. As a country on that side of Asia, we are feeling the impact of this,” he explained.
Jaishankar elaborated on the tangible consequences, including rising shipping costs and trade disruptions, while also warning of broader issues such as radicalization. “Instability anywhere actually is a source of concern. There’s no region you can say that’s far away and it doesn’t matter to me anymore,” he added.
Hope for Russia-Ukraine Peace Talks
Shifting focus to the Russia-Ukraine conflict, Jaishankar observed a growing inclination towards negotiations. He noted that European leaders have increasingly advocated for continued dialogue with both nations.
“The general sort of needle is moving more towards the reality of a negotiation than the continuation of the war. In the last few weeks and months, I’ve even seen this sentiment expressed by major European leaders, who are actually telling us please keep engaging Russia and engaging Ukraine. We welcome that. So we do think that things are moving somewhere in that direction,” he said.
