S Jaishankar Warns Of The 4F Threat, Even As Top Policymakers Flag Big Economic Concerns

India’s top policymakers have sounded a serious warning about the global economic environment. External Affairs Minister S Jaishankar has warned of a possible major food crisis in the coming months, highlighting growing pressure from fuel, food, fertilisers and finance. Principal Secretary to the PM PK Mishra has also cautioned against complacency despite India’s stable economic growth and strong macroeconomic fundamentals. He pointed to fragmented alliances, weaponised supply chains, volatile capital flows and rising trade barriers as major global risks. Chief Economic Advisor V Anantha Nageswaran has highlighted another challenge — growing pressure on countries to choose between competing global blocs. For India, maintaining strategic independence could come with economic costs. Despite these risks, India’s economy remains resilient, supported by 7.8% GDP growth in Q1. But policymakers believe the coming years could test India’s economic strength and strategic autonomy.