EAM Dr S Jaishankar said, "…A third of global production currently takes place in China. This has put the spotlight on the resilience and reliability of supply chains. Conflicts and climate events have added to the possibility of their disruption. When it comes to energy, the US has gone from being a major importer to a significant exporter of fossil fuels. At the same time, China dominates the world of renewables. Where trade is concerned, supply-side risks are aggravated by demand-side uncertainty. The salience of tariff rates to trade prospects has obviously heightened volatility and as for finance, the prolific application of sanctions, the seizure of assets, and the advent of blockchain-based technologies are today part of the new realities"
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