Mumbai’s bustling financial hub set the stage for a pivotal gathering as External Affairs Minister S. Jaishankar kicked off the Global Economic Cooperation Summit on February 17. This three-day event, running through February 19, draws leaders from developed and developing nations to tackle pressing geo-economic challenges.
Organized by the Future Economic Cooperation Council (FECC) in partnership with India’s Ministry of External Affairs and the Maharashtra government, the summit underscores India’s rising stature. Jaishankar, sharing moments from the inauguration alongside Maharashtra Chief Minister Devendra Fadnavis on X, highlighted India’s resolve to emerge stronger amid global turbulence.
‘Our government’s swift, practical, and people-centric policies position India as a reliable global partner,’ Jaishankar declared. He emphasized how these approaches are forging deeper strategic ties, evident in recent trade agreements.
Delving into global shifts, Jaishankar painted a vivid picture of a transforming world order. ‘The current global order is visibly changing before our eyes. Replacing it is difficult, and it feels like we’re heading into darkness—risky, unpredictable, and potentially dangerous,’ he warned, citing instances already witnessed worldwide.
He predicted that elements of the old order will coexist with emerging ones. As elections loom, economics will yield to politics and security, while AI ushers in unprecedented technological transformations.
India’s response, Jaishankar asserted, lies in bolstering national capabilities, confronting growth hurdles head-on, and balancing short-term crises with long-term opportunities. ‘The reform express will keep rolling,’ he said, impacting supply and demand dynamics alike. From this position of strength, India is engaging international partners more profoundly, amplifying its role in global calculations for manufacturing, services, technology, skills, and talent.
The summit aims to deliberate on trade diplomacy and investment flows, reinforcing India’s economic momentum and strategic partnerships in an uncertain world.