Noting that one-third of global production currently takes place in China, Jaishankar said that it has put the spotlight on the "resilience and reliability" of supply chains.

"We are now moving ahead, by any standards," he said, maintaining that the world is taking note of the advancements being made by India.

"With these considerations in mind, we are today endeavouring to forge new trade arrangements and promote fresh connectivity initiatives," the minister said.

When it comes to trade, “We will naturally be guided by our people-centric vision, just as our connectivity plans are by strategic as well as economic considerations,” he said.

He also said that as the government plans for a developed India by 2047, "the goal of foreign policy is to steadily expand footprint beyond its current confines".

He asserted that the solidarity that India has built with the Global South creates a base for it.

Jaishankar said that when it comes to increasing comprehensive national power, India's role in diplomacy is "active rather than passive".

"Promoting industrial growth and even incentivising it is a key economic priority," the minister said, maintaining that emphasis on 'Make in India' in the last decade speaks of a "different mindset and greater ambition"

"We are now in the world of chips and semiconductors, electric vehicles and batteries, drones and space, or that of nanotech and bioscience. Each of them offers an opportunity to leapfrog and establish unique capabilities," the minister added.