Munich

The External Affairs Minister on Tuesday, reaffirmed defense and trade cooperation with Russia and said that many Western countries used to supply arms to Pakistan and not India, adding that the trend has changed in the past decade.

In terms of inventory many Western countries have long preferred to supply Pakistan and not India. But that has changed in the past ten or fifteen years with the USA, for example, India’s new purchases have diversified with the USA, Russia, France and Israel as the main suppliers, he said.

In an interview with a leading German economic daily, Handelsblatt during his visit to the Munich Security Conference in Germany, EAM Jaishankar highlighted the infrastructural imbalance of supply chains in the world and said that the world’s economic model is unstable and unfair.

The world has created an economic model that is unstable and unfair. In the name of globalization, we have seen over-concentration in the world. Production has been shifted to a limited number of countries. The economies of many countries have been hollowed out, EAM Jaishankar said.

Many countries depend on others for very basic things, and we notice this immediately when we have disruptions like COVID, like the climate or the problems in the Red Sea at the moment. The problem is so profound that it’s not so easy to say, Let’s do these three or four things and things will be fine again, he added.