Fri Dec 06 01:16:37 UTC 2024: ## Jaishankar Urges Balanced Approach to China Trade Amidst LAC Progress

**New Delhi, December 6, 2024** – External Affairs Minister S. Jaishankar has cautioned Indian businesses against over-reliance on China’s supply chains, stressing the need for a balanced approach to trade with the country. Speaking at the Assocham: Bharat @100 Summit on Thursday, Jaishankar acknowledged China’s significant role in global manufacturing (32-33%), but warned that excessive dependence could hollow out Indian sectors.

While acknowledging recent progress in resolving border disputes along the Line of Actual Control (LAC) in eastern Ladakh, Jaishankar emphasized the need for continued dialogue with China. He stated that India must carefully weigh the long-term implications of its trade relationships, particularly for MSMEs, and avoid becoming solely a market for Chinese goods.

Jaishankar also addressed concerns about disruptions in Red Sea shipping lanes, stating that India is actively working with regional players, including Iran and Israel, to find alternative routes and mitigate economic consequences. He confirmed the deployment of Indian Navy ships to address the issue.

Furthermore, the Minister highlighted India’s efforts to improve trade relations with Russia, advocating for increased access to the Russian market for Indian exports in sectors like pharmaceuticals, marine products, and agro-products. He acknowledged existing trade barriers but expressed confidence in making progress through ongoing negotiations.

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