External Affairs Minister S Jaishankar has raised concerns over unequal market conditions for Indian businesses in China while expressing optimism about ongoing trade negotiations between India and the United States.
Speaking at the Bloomberg New Economy Forum in New Delhi, Jaishankar said India did not enjoy a level playing field in China, highlighting persistent economic challenges in bilateral relations.
His remarks come as New Delhi considers easing certain restrictions on Chinese investments while continuing discussions with Washington over a trade agreement.
India-US Trade Deal Moving Towards Resolution
Jaishankar indicated that negotiations between India and the US were progressing, with officials working to resolve outstanding differences.
He said the discussions appeared to be approaching a possible conclusion, although no agreement had been finalised.
Representatives from the US Trade Representative's office and India's Commerce and Industry Ministry are involved in the negotiations.
Jaishankar explained that Washington was seeking to rebuild its industrial base and revise the conditions governing access to the American market.
Tariffs, he said, formed an important part of this policy shift.
He added that India would need to assess its eventual trade arrangements against the terms offered to competing economies.
However, uncertainty remains because several countries have yet to finalise their agreements with Washington.
China Market Access Concerns
Beyond trade negotiations, Jaishankar said countries must reconsider their relationships with the US as Washington changes its approach to international engagement.
During a conversation with Bloomberg News Editor-in-Chief John Micklethwait, he outlined India's broader foreign policy priorities.
These included engaging America, managing China, cultivating Europe and reassuring Russia, alongside maintaining relations with Japan.
Jaishankar said he developed this framework in 2020 against the backdrop of Brexit, Donald Trump's election and growing opposition to globalisation.
He also noted that the US was reassessing its alliances and treaty commitments.
Unlike formal American allies, India maintains a strategic partnership with Washington rather than a treaty-based alliance.
On China, Jaishankar reiterated concerns about market access and competitive conditions affecting Indian businesses.
