National security has become a critical factor in business decisions, particularly in the rapidly evolving digital age, External Affairs Minister S. Jaishankar said on Wednesday.
Speaking at the Raisina Dialogue in New Delhi during a session titled “Commissars and Capitalists: Politics, Business, and the New World Order,” Jaishankar highlighted that the swift changes in the global business landscape are increasingly shaped by national security concerns.
He noted that this growing awareness of security risks is now influencing economic decisions across industries worldwide.
“In the digital era, business decisions are increasingly being made with national security in mind, in a way that was not the case before,” Jaishankar explained. “There are different ways of dealing with weaponization. One is to stay on the right side of the weapon, so you don’t get hit while others do. But the reality is that today, the world makes business decisions factoring in national security like never before.”
Jaishankar suggested that these changes do not necessitate the creation of entirely alternative systems for critical industries like telecommunications or international couriers. Rather, he stressed the importance of collaborating with like-minded nations and partners who share similar security goals.
“Sometimes, you may find yourself compelled to create alternative systems, but I would argue that this is more of an aberration than a strategic desire to replace the existing systems,” he said. “If we can make the current systems work for us, it is the smarter choice.”
The minister also highlighted the importance of trust and reliability in today’s business relationships, especially in the digital era. He pointed out that partnerships in sectors like telecommunications are now defined more by comfort and security than by cost alone. “In the digital era, it’s not just about cost; it’s about comfort. It’s about trust. When making business decisions, we want to engage with those who ensure resilience, reliability, trust, and transparency,” Jaishankar added. “You want to do business with those who are secure.”
Jaishankar’s comments come amid the announcement of Elon Musk’s Starlink internet satellite service, which is set to launch in India. Starlink has partnered with major telecom players Jio and Bharti Airtel for the launch, but Jaishankar emphasized the importance of carefully assessing potential risks when forming business partnerships.
“Every partner offers some risks, yes, but you would rather take the risks with those whose interests align with yours, rather than those with whom your interests may clash,” he said.
In addition, Jaishankar discussed India’s ongoing trade negotiations with its key global partners, including the United States, the United Kingdom, and the European Union. He underlined the importance of these relationships for India’s economic growth and technology partnerships. “India is currently engaged in three major trade negotiations with the EU, UK, and the US, these are our growth markets, these are our technology partners,” Jaishankar said.
(With ANI inputs)
