Indian Businesses Urged to Adopt 'Balanced' Approach in Ties with China: Jaishankar

External Affairs Minister S. Jaishankar has called for Indian businesses to adopt a "balanced" approach in their dealings with China, warning against excessive reliance on Chinese supply chains due to potential risks to India’s national interest. Speaking at an interactive session organized by industry body Assocham on December 5, 2024, he emphasized the importance of carefully evaluating long-term implications, particularly for micro, small, and medium enterprises (MSMEs). Acknowledging China's significant role in global manufacturing, with a 32-33% share, Jaishankar noted, "It is logical that several supply chains will go through China, and we must factor that reality into our calculations." However, he cautioned against dependence on a single source, adding, "If your sectors are hollowed out in the name of supply chains, you must reconsider your approach." He clarified that India does not advocate for avoiding business with China but urged industries to weigh the broader consequences of their trade and investment decisions. Referring to the resolution of the remaining friction points along the Line of Actual Control (LAC) in eastern Ladakh, Jaishankar highlighted "some progress" but stressed the need for continued discussions with Beijing. The nearly four-and-a-half-year standoff ended last month, but the minister noted,