Jaishankar On Market Volatility: '400 Paar' Will Help Calm Nerves

India's External Affairs Minister S Jaishankar said on Monday that the optimal figure of '400 paar' will help markets ease volatility. "Additionally, many individuals are anticipating the outcome on June 4 prior to finalising their investment choices," Jaishankar said while addressing the media at the National Stock Exchange Plaza in Mumbai.

"The primary focus remains on manufacturing, as the foundation has been established in previous terms," he shared.

The public should wait for the initial 100 days and the budget to obtain further details, he said.

In light of the shortage of hard currencies in many countries, the External Affairs Minister emphasized the importance of internationalising the rupee and stated that efforts are underway to increase its usage for settlements. He also highlighted the potential for boosting exports by providing more options for countries to conduct settlements using each other's currencies.

The Minister of External Affairs said that they anticipate a lasting agreement between India and Iran regarding the Chabahar Port deal. The focus was on the collaboration of partners. It is anticipated that there will be increased investment and connectivity on the port's side, and confirmation of the agreement is awaited.

"We are certain that we will make progress from our end. We have spent a considerable amount of time on position changes. This agreement will be a key focus for our trade agenda in the upcoming term," he said on UK-India FTA trade deal.