Kuala Lumpur – India’s external affairs minister, S Jaishankar, cautioned in a speech at the 20th East Asia Summit that energy trade is tightening, stirring market distortions and raising doubts about supply security.
Speaking on Monday, Jaishankar noted that technology races are fierce and the hunt for natural resources is hotter than ever. “Energy markets are closing in, creating distortions,” he said. “What officials say and what they do don’t always match.”
He warned that the world’s shifting rules could force new agreements, fresh opportunities and tougher solutions. “Markets will adjust, practices will shift, and new ideas will emerge,” Jaishankar told the summit. He emphasized that technology, competitiveness, market size and digital connectivity will shape future growth and that a multipolar world will only grow stronger.
The comments come as global tensions rise over US tariffs. In September, President Donald Trump slapped a 50 % tariff on Indian goods, accusing India of unfair trade practices and for refusing to stop buying Russian crude. India says the Russian oil purchases are vital for keeping energy prices low and securing enough fuel for its people.
Jaishankar also urged an end to the fighting in Ukraine and welcomed a peace plan for Gaza. “We see how conflict spills over, affecting food, energy and trade worldwide,” he said. “India supports a swift resolution in Ukraine and backs the Gaza peace initiative.”
He called for zero tolerance of terrorism, stating, “The world must act decisively. There is no room for ambivalence or weakened defense.”
Jaishankar highlighted India’s active role in the East Asia Summit, noting recent workshops on energy‑efficiency policies and a conclave of universities that strengthened knowledge exchange in the region.
Source: ianslive
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