Economist and former Vice Chairman of NITI Aayog Rajiv Kumar has said that the real strength of any country’s foreign policy is its economy. India needs to achieve rapid economic growth and increase its share in global trade to gain respect and influence on the global stage.
Countries with weak economies are not taken seriously
Addressing a program, Rajiv Kumar said that countries with weak economies are not taken seriously in international politics. He said that economics is the foundation of geopolitics. Our Foreign Minister S Jaishankar has rightly said that India’s best foreign policy is to strengthen its economy. If the economy does not grow, then talking about any issue will have no effect.”
China is able to face America only because of its strong economy.
Giving the example of China, Kumar said that being the second largest economy in the world, China has gained influence and confidence at the global level. He said that today China is ahead in 47 out of 53 frontier technologies. This strength gives him the courage to stand before America.
India’s share in global merchandise is less than 2 percent
Expressing concern over India’s global trade share, Kumar said that for the last 30 years, India’s share in global merchandise trade has been less than 2 percent, which is inadequate in terms of global impact. He said that only if it is taken to 10 percent, India’s voice will be heard on the global platform. India’s share in the services sector was also said to be around 4 percent.
What did you say on India-America trade relations?
Speaking on India-US relations, Kumar said that India should protect its national interests with patience and determination amid the policy changes during the Trump administration. Recalling the sanctions imposed after the 1998 nuclear tests, he said that under the leadership of the then Prime Minister Atal Bihari Vajpayee, India faced international pressures and moved forward strongly.
India should not be overly dependent on any one country
Emphasizing on genuine strategic autonomy, Kumar said India should not be overly dependent on any one country and the time has come to review relations with China as well. He also described the private sector as the engine of economic development and said that full support should be given to the private sector in strengthening India’s economy.
