India takes opportunities, challenges in Indo-Pacific very seriously: Jaishankar

New Delhi [India], October 29 : Emphasising that the world needs additional engines of growth as well as networking to support the democratisation of the global economy, External Affairs Minister S Jaishankar has said that India takes opportunities and challenges in the Indo-Pacific very seriously.
While speaking virtually at the Fourth Edition of the Indo-Pacific Forum -- which is jointly hosted by India and the US -- Jaishankar said the Indo-Pacific reflects the reality of globalisation.
"Whether it is in terms of initiatives or solutions, you may be assured that India takes the opportunities and challenges of the Indo-Pacific very seriously," he added.
He said that New Delhi's efforts could be seen in the Indo-Pacific ocean initiative or indeed in the vaccine collaboration undertaken through the quad format.
Underlining that it is the second such event this year, he said that the event reflects the importance accorded to the Indo-Pacific region and the potential and opportunities that the region offers.
"Today, Indo-Pacific reflects the reality of globalisation, the emergence of the multi-polarity, and the benefits of rebalancing," Jaishankar emphasised.
Emphasising that India believes that "common prosperity and security" require us to evolve through dialogue and a common rules-based order for the region, the minister said that to advance these objectives India is pleased to co-host the fourth edition of the Indo-Pacific business borough
Stressing that New Delhi sees Indo-Pacific as a free, open and inclusive region, the minister said it should embrace all in the common pursuit of progress and prosperity.
The minister further emphasised that such an order must respect the sovereignty and territorial integrity, international law, as well as equality of all nations.
"It envisages that the country should have access to the use of common spaces on the sea in the air that would require freedom of navigation, overflights, unimpeded commerce and peaceful settlement of disputes in accordance with international law," said Jaishankar.
Highlighting that India's approach is based on cooperation and collaboration, given the need for shared responses to shared challenges in the region, he said that the world is also moving towards greater economic diversification and political multi-polarity.
The minister pointed out that the COVID-19 has given a much sharper impetus to those trends.
"The experience of the pandemic has broadened the understanding of national security for most. It has taught us the importance of resilient and reliable supply chains just as it has cautioned us against concentrated production. Whether it is vocal for local or make in India, the thinking today in our country has focused on shorter supply chains and more decentralised globalisation," said the minister.
Emphasising that India is coming out of the COVID-19 pandemic and is witnessing a strong economic recovery, he said that the country will continue to be the more dynamic and friendlier business destination.
"We wil continue to be an engine of growth for the global economy. And we will be very much a part of more reliable and resilient supply chains that the post COVID world requires," he added.
The minister further said that international cooperation especially among businesses is key to the better world that we all seek.
Jaishankar while concluding his address said that India looks forward to "working together with all of you in the coming days to strengthen business linkages with this dynamic region".