‘Petrol prices would be much higher if…’: Jaishankar on importance of foreign policy

Union external affairs minister S Jaishankar on Monday explained the significance of a strong foreign policy to regulate the prices of items used in day-to-day life. He said a good foreign policy will impact the prices of items including petrol to the next iPhone.

Speaking at the National Institute of Technology (NIT), Delhi, Jaishankar said, “without a good foreign policy, the petrol price would be much higher, the cooking oil price would be too, and the price of your next iPhone will be higher too.”

He discussed how globalisation has broken down the boundaries and urged people to be aware of the affairs taking place around them.

“Globalisation has broken down the boundaries between inside and outside and you should understand what is happening around you,” he said.

He further discussed about Russia’s changing stance in economic relation with Asia post Ukraine war. “Russia’s main economic partner was the Western countries. After the Ukraine conflict, that way was closed. Russia is now turning more and more towards Asia. Our trade before the Ukraine conflict was about 12-14 billion dollars, our trade last year was 40 billion dollars,” he added.