Former G20 Sherpa Amitabh Kant has emphasized that India's ambition to become a $30 trillion economy is unattainable without robust engagement with the United States, China, and Europe. Speaking at an India Today BRICS Roundtable, Kant urged India to navigate the expanded BRICS grouping carefully, asserting it must not evolve into an anti-Western platform.
Kant highlighted the current global economic landscape, marked by widespread conflicts in Europe and West Asia, the breakdown of global supply chains, rising protectionism, and unilateral industrial policies by major nations, including the US. In this challenging environment, he noted BRICS plays a significant role, accounting for nearly half of the global population and around 40% of global GDP.
Navigating BRICS Expansion and Global Powers
Despite BRICS's growing influence, Kant stressed the critical need for India to maintain a steady, multi-aligned foreign policy. He underscored the importance of preventing the bloc from adopting an anti-West stance, a challenge made more complex by the recent addition of six new members, including nations on differing sides of West Asian conflicts like Iran, Saudi Arabia, and the UAE.
Achieving consensus within such a diverse group, Kant acknowledged, is both achievable and highly challenging. He pointed out the immense economic power of the US, which commands about 28% of global GDP and 50% of global market capitalization, and China, contributing nearly 19% of global GDP.
"No country in the world has become rich without working with the United States," Kant stated, citing examples like Japan, Korea, and China's post-WWII economic growth. He reiterated that a multi-aligned approach, engaging with the US, Europe, and China, is essential for India's economic aspirations.
China's Clean Technology Dominance
Kant also drew attention to China's rapidly expanding dominance in clean technologies. He warned that Beijing's near-monopoly and strategic weaponization of these technologies pose a significant challenge, making it difficult for other nations to compete or develop their own clean energy sectors.
He advocated for India to leverage its bilateral engagement with China to press for greater access to technology and promote more competition in the clean-tech sector. This, he argued, is vital for ensuring technology flows, fostering clean technology development globally, and preventing the monopolization of critical mineral processing.
Ultimately, Kant positioned India as a crucial stabilizing force within BRICS, capable of "steadying the ship in very choppy waters" and guiding the bloc through these complex global dynamics.