Foreign Minister S Jaishankar said - Where the old mantra of globalization is still prevalent, nationalism is a bad word

External Affairs Minister S. Jaishankar said on Friday that the role of growing nationalism in shaping global affairs should be recognized. In parts of the world where the old mantra of globalization is still prevalent, nationalism is a bad word. But the truth is that they reflect the disappointment in many developed societies where the quality of life has deteriorated due to wrong geopolitical and geo-economic choices.

He said that the world will be much more nationalistic in the near future. Therefore, it is important that India evaluates global developments and calculates its benefits.

"I agree that there is scope to increase trade with Japan. We have a target of five trillion yen by 2027. We are halfway to the target. With the change in geo-economics, we have to work harder with Japan. The Japanese people understand that they have to work with India and we have common interests," Jaishankar said at the seventh Jasjit Singh Memorial Lecture at the Centre for Air Power Studies in New Delhi.

"The relationship with the US is greater than any other relationship. This relationship is a witness to the changing world. We have issues. We have differences. But we are consistently meeting the expectations of the market because the markets are consistently behind us," the foreign minister said.