Pune (Maharashtra) [India], December 20 : External Affairs Minister Jaishankar on Saturday stressed that the global economic and political hierarchy has undergone a "very significant change," asserting that India has successfully surged in human resources while many developed nations face stagnation and demographic crises.
Addressing the 22nd Convocation of Symbiosis International (Deemed University) in Pune on Saturday, Jaishankar emphasised that the era of decolonisation has shifted control over national destinies back to sovereign states.
He noted that the "quality of choices and the wisdom of policy" have become the primary differentiators in global success.
"The cumulative result of all these happenings is that the global economic and, thereafter, political pecking order has actually undergone a very significant change," Jaishankar stated.
Jaishankar highlighted a critical shift in the international labour market, noting that India is becoming the engine of a global workforce in the making. "As developed economies struggle with ageing populations, India's surge in trained professionals has created a new era of cross-border mobility," he said.
"We have started to surge in trained human resources at the very time when many developed nations are struggling to find them," he remarked. "Since demand and supply invariably develop their own equation, we have entered an era of mobility."
The Minister stressed that this mobility brings new responsibilities for governance. "We need to ensure the welfare, including in conflict situations, and the politics of this mobility needs to be managed," he added, referring to the government's focus on protecting Indian citizens abroad.
Reflecting on the post-colonial era, Jaishankar provided a candid assessment of global economic performance. While acknowledging that China has "gained the most" in this period, he asserted that India has "done well, especially in the post-reform era," and even more so over the last decade.
In contrast, he delivered a sharp critique of the Western economic model, citing a loss of competitiveness driven by past policy choices.
"Western elites consciously chose to shift production to maximise profits. Their competitiveness has eroded over the years, accelerated by their lifestyle," Jaishankar observed. "Much of the Western world now feels that they have stagnated, a sentiment that has increasingly come to acquire a political meaning."
The Minister concluded by reminding the graduates that national progress is not accidental but the result of steady leadership. In India's specific case, he noted that "leadership and governance have led to ups and downs in various phases in our economic growth and in our social transformation."
By framing the current global landscape as one of "natural competition," Jaishankar encouraged the graduating class to view themselves as part of a "Viksit Bharat" (Developed India) that is no longer just a participant in the world order, but a shaper of it.
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