India against 'weaponisation of market shares': Jaishankar to Rubio

EAM S Jaishankar said India opposes the 'weaponisation of market shares and resources' and listed 5 principles for global challenges. US's Marco Rubio noted Indian firms invested over $20 billion in the US, wanting the partnership to grow.

External Affairs Minister S Jaishankar on Sunday said India is against the "weaponisation of market shares and resources" as he outlined New Delhi's broad position on global conflicts and economic stability.

Addressing a joint press conference with US Secretary of State Marco Rubio, Jaishankar listed out five key principles that guide India's approach towards ongoing global challenges.

India's Five-Point Approach to Global Challenges

The External Affairs Minister said India advocates "dialogue and diplomacy" to resolve conflicts and supports "safe and unimpeded maritime commerce."

"I would make five points here. One, that we advocate dialogue and diplomacy to address conflicts. Two, we support safe and unimpeded maritime commerce. Three, we demand scrupulous respect for international law," Jaishankar said.

He further said India believes in building trusted global partnerships and resilient supply chains to reduce risks to the world economy.

"Four, we are against the weaponisation of market shares and resources. And five, we believe in the value of trusted partnerships and resilient supply chains to de-risk the global economy," he added.

Calling Rubio's visit "timely," Jaishankar said the discussions between the two sides had been "very productive."

"So overall, this has been a very timely visit by the Secretary. I think our discussions have been very productive," the minister said.

Rubio on Indian Contribution to US Economy

Addressing the joint press conference in New Delhi, Rubio reaffirmed the immense value the Indian community brings to the United States.

He highlighted that Indian companies have invested over USD 20 billion into the US economy. He expressed a clear desire for this partnership to continue and expand.

He said Washington wants Indian investment in the US to keep rising even as it reforms how it admits foreign nationals.

"First of all, I accept the contribution that Indians have made to the US economy. Over USD 20 billion has been invested in the US economy by Indian companies. We want that number to continue to increase," Rubio said. (ANI)

(Except for the headline, this story has not been edited by Asianet Newsable English staff and is published from a syndicated feed.)