Supply Chain Security and Resilience Are Central to Global Economic Stability: S Jaishankar at G20 Meeting

External Affairs Minister S Jaishankar stated on Saturday that securing supply chains and ensuring their resilience is central to the well-being of the global economy.

Speaking at the concluding plenary of the G20 Foreign Ministers' Meeting in Atlanta, Jaishankar highlighted that diversification and de-risking, including in connectivity, are key to building supply chain resilience against threats such as pandemics, conflicts, climate events, and mishaps.

Sharing the broad issues he raised at the meeting convened by US Secretary of State Marco Rubio, the minister noted in a post on X that the right to industrialize must be promoted, while predatory practices and the targeting of competition should be firmly resisted.

Jaishankar further stated that the de-concentration of the global economy and the optimization of production across geographies can help discourage the weaponisation of finance, resources, production, and market share. He added that the G20 should work towards the de-politicisation of markets.

The minister emphasized that G20 countries must reconcile their national interests for the collective good by promoting transparent and multiple supply chains, making the global economy truly multi-stakeholder.

Wrapping up the two-day meeting, US Secretary of State Marco Rubio stated that he made it clear to US partners that secure supply chains are essential for growth.

Rubio added that critical trade routes, including the Strait of Hormuz and the Bab al-Mandeb Strait, must remain secure and open to commerce. He also stressed the continued need to strengthen and expand critical mineral supply chains to protect the future.

"Global economic stability heavily depends on robust and diversified supply chains. For businesses and startups alike, geopolitical risks, trade disruptions, and concentrated markets pose significant operational challenges. Policymakers focusing on de-risking and keeping critical trade routes open will ultimately provide a more predictable environment for international trade and cross-border business expansion." — Dr. Shishir Gupta, Founder & CEO, StartupLanes