Jaishankar: Neighbourly Ties Need Mutual Interests, Common Ground

External Affairs Minister S. Jaishankar on Saturday underscored the importance of mutual interests and common ground in managing relationships with neighbouring countries, a remark that comes against the backdrop of a chill in India-Bangladesh ties.

Speaking at the Economic Times World Leaders Forum, Jaishankar was asked about Dhaka's demand for the extradition of ousted Prime Minister Sheikh Hasina, who has been in India since her ouster in August 2024. He declined to discuss specific conversations with Bangladesh but laid out his broader approach to diplomacy.

"For any relationship to work, it has to meet the extent of mutual interest. It has to work for them. It has to work for us," he said. He added that India must recognise and respect the interests of its neighbours just as it expects them to do the same. "It is when you get that landing point, that common ground, that relationships work smoothly."

The remarks come as a proposed visit to India by Bangladesh Prime Minister Tarique Rahman faces uncertainty. Ties had shown signs of improvement after Rahman assumed office in February, but Dhaka was angered by Hasina's public audio address in New Delhi on August 5, the second anniversary of her ouster. Bangladesh, where Hasina faces a death sentence, has been pressing for her extradition.

On the global economic landscape, Jaishankar advocated for "de-risking" and diversification as key strategies. He pointed to distortions in energy, fertiliser, and shipping markets caused by choke points. "Today, I'd say, 'distrust and diversify', which assumes that things may not go right," he said, urging businesses and policymakers to build in margins of safety rather than relying solely on just-in-time supply chains or lowest costs.

Addressing India-China relations, Jaishankar acknowledged a difficult period between summer 2020 and autumn 2024, driven by border tensions. He stressed that peace and tranquility in border areas are prerequisites for good relations. He noted that both countries are large economies and part of each other's supply chains, but emphasised the need for India to build its own strengths. "A stronger, more self-reliant India, a more industrialised India, a more manufacturing India will be able to actually compete with China," he said.

Jaishankar also confirmed that the government has raised the issue of business visas for Indian applicants with China. On the concept of a G-2 (US-China) dynamic, he advised caution, describing the US-China relationship as fundamentally competitive, though collaborative in certain areas.