Highlighting the significance of the Indo-Pacific vision and its role in current geopolitics, India's External Affairs minister Dr S Jaishankar on Tuesday said that it "represents a return of history" and "reflects the reality of globalization" and "emergence of multi-polarity and the benefits of rebalancing".
Speaking at the inaugural session of the 1st edition of the Indo-Pacific Business Summit, EAM said, "Seamless and integrated space was disconnected decades ago" but as "many Indian Ocean economies trade further east and as Pacific ones too have displayed a presence south and westwards, we are quite sensibly seeing the landscape for what it really is".
Indo-Pacific as a vision, whose geographical boundaries are from the eastern shores of Africa to the western shores of America is backed by Delhi and Washington. The term is increasingly gaining currency in recent time, with many European, ASEAN and African countries backing it.
EAM explained the vision "means the overcoming of the Cold War and a rejection of bipolarity and dominance" and is an "expression of our collective interest in promoting global prosperity and securing the global commons."
During the address, he pointed out to the "salience of health" amid the Covid crisis, the "power of the digital" with "like-minded countries must work together for data-driven digital development partnerships" and "the importance of building or re-building greener".
The virtual meet saw participation of Maldives FM Abdulla Shahid, Australia FM Marise Payne, Mauritius's FM Alan Ganoo, France's Minister Delegate for Foreign Trade Franck Riester. The event jointly organized by CII and MEA also saw envoys of 12 countries--Australia, Chile, France, Japan, Maldives, Mexico, Fiji, Mauritius, Singapore, Thailand, Vietnam, UAE speaking.
On COVID crisis, EAM assured that "India is coming out of the second wave and will witness a strong economic recovery". He expressed confidence, that the country will "contribute to being an engine of growth for the global economy" and "will be very much a part of more reliable and resilient supply chains that the post-Covid world requires".
Global supply chains, largely dependent on China saw lot of pressure amid the covid pandemic, something which is being slowly changed with likeminded countries with democracy as the shared value slowly changing.