New Delhi [India], October 4 (ANI): India and China are relatively better placed to withstand energy supply disruptions from the Strait of Hormuz due to diversified sourcing and stockpiles, while New Delhi is likely to continue buying some Russian oil despite potential US tariff pressure, said former Singapore Foreign Minister George Yeo, urging India to “make use of open source from China.”
Speaking to ANI on the sidelines of 5th Kautilya Economic Conclave, Yeo said, Singapore’s position as a major trade hub is unlikely to be fundamentally affected because of its strategic geography.
At the same time he added, “...both India and China are quite diversified, they have stock piles. So, they're managing as as best as they can.”
As per Yeo, China is completely relaxed, however, India is “still anxious” and “will continue to get part of its oil from Russia.”
He also reflected upon India-Singapore economic ties and added, “Singapore India relations are very good and will continue to be very good. Uh, if anything we should be looking for more opportunities to deepen our relationship further.”
On India's engagement with the United States, Yeo said New Delhi would need to manage the relationship while maintaining its negotiating position.
“India will have to manage America...if you allow yourself to be bullied...then America will be all over you. Find a way to equalize the negotiating position,” he said.
Yeo also highlighted artificial intelligence as an area where India should avoid excessive dependence on either the United States or China and instead focus on developing its own technological capabilities.
“Both America and China are far ahead. I think India should make use of open source from China because this will allow you to develop your own systems, provided you have your own application layer and keep your own data secure.”
“If you depend only on American systems, you may find yourselves in the end being disadvantaged. It's a balance you have to strike. Don't just depend on one side or the other. But in the end, develop your own capabilities,” he said further.
On India-China economic relations, the former Singapore Foreign Minister called for a pragmatic approach, arguing that Chinese inputs could help improve India's global competitiveness while the country continues to build domestic capabilities.
“India needs to take a very hard-headed approach on China. You can't be emotional. On certain things, you do want Chinese inputs because it helps make you more competitive in the world,” he said.
Yeo stressed that engagement with China should ultimately strengthen India's own capabilities and serve the national interests of both countries.
“You should always want to develop your own capabilities, and if you bring the Chinese in, it's so that you can you yourself can learn and benefit from the relationship, and if both sides concentrate on what is in their own national interest, concentrate on mutual benefits, then I think the relationship is bound to improve.” (ANI)
India, China better positioned for Hormuz disruptions; Russian oil purchases likely to continue: Former Singapore Foreign Minister
