S Jaishankar, the external affairs minister, pointed out increased trade protectionism, unpredictable tariffs, and coercive supply chain activities by key global powers on Saturday in a subtle but scathing attack on both China and the United States.He warned that such acts were undermining confidence in the international system and disproportionately harming the Global South in his address to the 80th session of the United Nations General Assembly (UNGA).
Although he did not specifically name any nations, Jaishankar's comments seemed to criticise recent actions by Beijing and Washington, denouncing what he called "trade hypocrisy" and selective reactions to international crises.
As a result, we currently observe tariff volatility and erratic market access.
De risking is becoming more and more necessary, whether due to a lack of supply or an excessive reliance on a specific market, he stated, emphasising that Bharat "will always maintain its freedom of choice."
The declaration follows US President Donald Trump's announcement earlier this week that unless businesses move their manufacture to the US, branded and patented pharmaceutical products would be subject to a 100% import duty.
Trump said on his social media platform, Truth Social, "I'm imposing a 100 percent import tax on pharmaceutical drugs unless the companies are building plants right here in the United States."
Due to its ongoing purchases of Russian oil, India has also been subject to high tariffs from the US; Trump has already placed a 50% levy on Indian exports.
The impasse was not resolved at earlier this week's talks between Indian and American trade negotiators in NewYork.
Indian authorities reaffirmed the nation's need for reasonably priced energy, pointing to previous interruptions brought on by US sanctions against Venezuela and Iran.
Jaishankar emphasised the dangers of overconcentration of vital mineral supply chains without specifically mentioning China.
He pointed out that current economic difficulties are being made worse by "heightened technology control" and a "grip on supply chains and critical minerals."
