While the current global order has thrown up challenges, India stands in a beneficial position as the rest of the countries are taking long-term positions on the country, said S Jaishankar, India's new external affairs minister in his first public address after taking charge. "On one end it's a complex world but I enter the global arena with some strong cards in my hand,” he said.

The minister outlined cooperation with other ministries, furthering connectivity in South Asia and effective project execution as his key priorities.

Jaishankar, a former foreign secretary and a surprise inclusion in Prime Minister Narendra Modi’s second Cabinet, was speaking at the Growth Net Summit organised by the Ananta Centre. The theme of the event was, "Innovating our ways amidst structural disruptions" and "Changing World Changing India".

Jaishankar said that ministries and department need to get over the mindset of protecting their turf. "For India to get more bang for the buck the key would be more departments and ministries of government to work together", Jaishankar said. "In the last few days, I have spent more time with the finance minister and commerce minister than in my own ministry." He emphasised that today there is a greater need for all ministries to work together than ever before so as to get most out of the complex world order.

The minister warned that businesses today would have to be ready for sharp and complex changes at a time when nationalism is putting globalisation under stress. "The obvious change is globalisation is under stress. Global supply chains, mobility of talent and market access are no longer assumptions we can make with the same degree of confidence", he said. Jaishankar further added that countries today are imposing tariffs on grounds of national security and while nationalism in Asia is a nationalism of confidence, nationalism in other places is a nationalism of insecurity.

Jaishankar who is the second diplomat to take over as External Affairs Minister said there is a greater responsibility on India's foreign policy to propel economic change. "There is a need to create partnerships to help Indian businesses to secure markets and do business outside. There is a strong interplay between economics and politics", he said.

Responding to a question about lack of connectivity in South Asia, the foreign minister admitted, "South Asia is one of the least connected regions. Countries in South Asia need to realise that they are losing out by not being connected enough". Jaishankar emphasised that the "primary responsibility to increase connectivity in South Asia is on India as it is the largest economy in the region". He added that India needs to incentivise cooperation in the neighbourhood and cannot wait for reciprocity as India has a larger interest.

The new minister did not mince any words while highlighting the importance of the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC). "SAARC has certain problems, apart from terror there are connectivity and trade issues. BIMSTEC leaders were invited because we see energy in BIMSTEC which fits in with our economic vision". Quite clearly, furthering connectivity with BIMSTEC partners will be the Modi governments priority in the next five years.

After retiring as foreign secretary in April last year Jaishankar was appointed as the president, Global Affairs by Tata Sons. Speaking about his experience in the corporate sector he said, "A year out of government really taught me a lot. It certainly made me much more sensitive. Project execution is a big responsibility for us in the foreign ministry. I would now look at project execution with a slightly smarter perspective".

Jaishankar added that he would now hold monthly reviews of projects under the foreign ministry, something the Prime Minister has been doing from time to time.