External Affairs Minister S. Jaishankar stated that India is still steadfast in its long-standing policy of strategic autonomy, despite claims from Washington that New Delhi had consented to cut back on Russian oil imports as part of a trade agreement with the US.
During his speech at the Munich Security Conference, Jaishankar emphasized that India makes energy decisions that are in the best interests of the nation and are determined by factors including cost, availability, and risk assessment.
When asked if lowering reliance on Russian oil will have an impact on India’s strategic autonomy, Jaishankar responded that the idea is still fundamental to the country’s political and diplomatic development.
“Because strategic autonomy is a part of our history and progress, we are very much devoted to it,” he stated.
He went on to say that Indian oil businesses, like those in Europe and other parts of the world, compete in a complicated global market. Instead of political pressure, they base their purchases on strategic and commercial factors.
India has not affirmed or refuted repeated assertions made by the Donald Trump administration that New Delhi agreed to limit Russian oil purchases as part of a larger trade deal.
The reported agreement eliminated a 25% punitive levy imposed last year on Russian oil imports and lowered US tariffs on Indian exports from 50% to 18%.
India retains the freedom to make its own decisions, even if they do not entirely coincide with those of its Western allies, Jaishankar made clear.
“Yes, that can happen if the fundamental issue you are asking is whether I will maintain my independence and make decisions that do not align with your viewpoint,” he remarked.
The minister pointed out that in the face of extraordinary geopolitical changes, nations all around the world are adjusting their policies. He cited significant worldwide upheavals in recent years, including as the Covid-19 outbreak, the turmoil in Ukraine, Middle East tensions, and China’s growth, as causes that are changing international institutions.
According to him, these modifications highlight the necessity of reforming multilateral organizations, especially the UN and UN Security Council.
At a time when the globe is becoming more multipolar, Jaishankar emphasized the significance of reviving India’s relationship with Europe.
Johann Wadephul, his German colleague, stated that Europe is looking for closer ties with nations that have similar interests and values as a result of the increasing global unpredictability. India is one of Germany’s most significant allies, he said.
The two nations are working together to improve international rules-based systems, commerce, defense, and climate resilience. In order to create a balanced global economic framework, Jaishankar further emphasized the importance of the proposed India-US trade agreement and the India-EU free trade agreement.
