Speaking at the Times Network India Economic Conclave, Clinton said the US and West Were trying to establish “certain norms” that democracy could follow against autocratic states. He said that India would like the world to be angry in the same way and would be with China if it “sends a huge army to India”.
“India is held in very high esteem. Its position matters. Russia’s aggression and efforts to stop Chinese aggression are in everyone’s interest.”
Clinton said some progress had been made in US efforts to wean Europe away from Russian energy, though perhaps not as much as he would have liked to see. He also recalled how India had cut oil imports from Iran when he, as the then foreign minister, made the case with the Indian leadership that Iran acquiring nuclear weapons would result in a “terrible situation”.
“India’s oil imports from Russia are very less. It is important to underline that India has the right to make independent decisions in its own interest, like any other sovereign nation. But, number two, I would certainly argue for India to be part of this global response. When I worked for the UNSC to impose sanctions on Iran, I traveled to India and made the case that Iran obtaining nuclear weapons could lead to a nuclear arms race in an area where India was closer than we are. India was very helpful. I think that’s what we are expecting from India.”
“I understand you have a tough choice to make. My reasoning is that you are now part of the quad. I have said in the past that you should look east and look west too. India is such an important nation and that’s why Strategically located. It is in everyone’s interest to try to stop Russia and I would argue that.”
Clinton said the US is trying to set some benchmarks that the democratic world can be as strong as possible against the autocrats. “The autocrats are never satisfied. They always want more,” she said.
Clinton said she was proud that her husband, Bill Clinton, as president, was responsible for opening the door to stronger ties with India. She said she had no doubt that the US under the Biden administration would continue to seek a deeper “alliance” with India. It is in the interest of both to have a strong bond in fields ranging from education to the army,” she said.
In his welcome address, Times Group MD Vineet Jain said that India’s noisy and reasoned political process may have slowed the country down, but it has made the country’s ascent deliberate, sustainable and deep.
Jain said that while India has friends on the world stage, the country does not belong to any one country. “With three trillion dollars, we are the world’s sixth largest economy – and in terms of purchasing power parity, the third largest. We are an ancient civilization, but not one that has been crippled in the past. We are the world’s third largest. Home to the large startup unicorn ecosystem, behind only the US and China, is a testament to the innovation and entrepreneurship of India’s youth culture.
IDFC First Bank MD and CEO V Vaidyanathan said India has benefited from the democratic dividend apart from the demographic dividend. While this form of governance has its strengths and disadvantages, India had the advantage of democracy, which meant that there were no drastic measures like the killing of sparrows across China to save grain or the one child policy.