How Jaishankar made India powerful using India Middle east corridor?
Dr. J Shankar has done amazing things for India’s standing and relations ever since he became the External Affairs Minister.
Russia-Ukraine war and oil purchases
Dr. J Shankar shielded us from Western pressure to purchase oil at a premium during the Russia-Ukraine war, when the entire world was pressuring us to do so. Rather than caving in to pressure from other nations, he skillfully negotiated to obtain cheaper oil from Russia. This action was a major factor in India’s ability to control its inflation rates in 2021 and showed the minister’s skillful use of economic diplomacy in trying situations.
Importance of energy purchases from Russia
When thinking about buying energy from Russia, it’s important to understand the importance of these deals in the larger picture. The geopolitical significance of India’s monthly oil purchases from Russia cannot be understated, even though they may appear insignificant in comparison to other regions like Europe. Dr. J Shankar represents a sophisticated approach to energy security and foreign policy by diversifying energy sources and keeping diplomatic connections with Russia in the face of geopolitical challenges.
India’s strategic selling of services to the US and buying oil from Russia
Under the guidance of Dr. J Shankar, India’s diplomatic moves during the Russia-Ukraine war proved to be astutely strategic in the midst of a contentious geopolitical landscape. India skillfully managed complex international relations by taking advantage of opportunities to offer services to the US and simultaneously purchase oil from Russia. This delicate balancing act demonstrated the minister’s skillful negotiation abilities and forethought in maintaining international partnerships, while also enhancing India’s economic and diplomatic status.
The India Middle East Economic Corridor
The India Middle East Economic Corridor is one of the remarkable accomplishments attributed to Dr. J Shankar’s time as External Affairs Minister. This groundbreaking trade route represents a major turning point in international trade and was conceived as a joint venture involving India, the US, UAE, Germany, Italy, and the EU. The corridor intends to improve commercial connectivity, boost economic growth, and diversify trade routes by establishing a strategic collaboration among important economic stakeholders, placing India at the forefront of international trade initiatives.
Benefits of the India Middle East Economic Corridor
The Middle East Economic Corridor, which connects India and the Middle East, has great potential to both strategically counter geopolitical threats and stimulate economic growth. This corridor highlights India’s proactive approach to promoting regional cooperation and infrastructure development by providing a substitute for China’s Belt and Road Initiative. With planned infrastructure projects involving renewable energy grids, shipping lanes, railroads, and underwater cables connecting countries with a combined GDP of $47 trillion, the corridor is positioned to transform trade dynamics, promote sustainable development, and increase India’s clout in the international arena.
Reducing reliance on the Red Sea shipping
Reducing India’s dependency on Red Sea shipping routes is part of Dr. J Shankar’s strategic plan to diversify trade channels and improve regional connectivity. With the India Middle East Economic Corridor, India is investigating other marine routes in an effort to reduce the dangers that come with relying too much on established shipping channels. Along with demonstrating India’s dedication to sustainable trade practices, this programme opens the door for increased economic resilience and strategic independence in the context of international commerce.
