In a conversation with Bloomberg New Economy Forum editor John Micklethwait in Delhi, Jaishankar reiterated that India and China still lack a formal border agreement, noting the 1975‑2020 period of calm.
He highlighted that the 2020 clash, which erupted during a COVID lockdown, ended 45 years of peaceful coexistence and that four years of negotiations followed, culminating in a limited truce by 2024.
Jaishankar stressed that stability is prerequisite for broader normalisation, citing the need for "peace and tranquillity" and that any future flare‑up would have visible consequences for the next five years.
He added that economic talks are in progress, with discussions about early harvest agreements, but clarified that market access and investment policy will be addressed separately from the border issue.
The minister also warned that the trade imbalance remains steep, with India lacking a level playing field in China, and that resolving the boundary dispute could unlock new business opportunities.
Analysts say the conversation signals a shift, as India now sees its ties with China as "better" than in previous years, and the next step will be a formal review of the border situation at the 2025 BRICS summit.