New Delhi: Highlighting the fact that rising nationalism is shaping world affairs, External Affairs Minister S Jaishankar on Friday said that nationalism has triggered independence, growth, rebalancing and led to multi-polarity.

He also emphasized that India should evaluate global happenings and make choices that benefit because of the presence of multiple divides and frictions in the world as well as competing powers for the top of the global hierarchy.

Jaishankar said while addressing the 7th Jasjit Singh Memorial Lecture at the Centre for Air Power Studies in New Delhi.

Emphasising the importance of nationalism, Jaishankar said that in the foreseeable future, the world will be significantly more nationalistic, highlighting greater individualism in the world.

He said that the role of rising nationalism in shaping world affairs must also be recognized.

Jaishankar noted that the countries holding onto the old globalization think that nationalism is a bad word.

"In those parts of the world where the old globalization mantra still prevails, nationalism is a bad word. But the truth is that they do reflect the frustration in many developed societies where the quality of life has been eroded by bad geo-political and geo-economic choices," he said.

However, the picture is understandably very different in the developing world, Jaishankar said.

"It was nationalism, after all, that triggered independence, growth, rebalancing, and led to multipolarity...," he added.

He stated that the world will be significantly more nationalistic in the future.

"Like it or not, the world will be significantly more nationalistic in the foreseeable future and that means greater individualism, a stronger sense of caution on external commitments, and a global architecture that will be considerably less disciplined," he said.

Jaishankar stressed that what is good for us as a national interest is also good for the world, further commending India's relations with the Global South.

"In this context, it is imperative that India clinically evaluate global happenings and calculate its benefits. Often, what is good for us as a national interest is also good for the world. That arises partly from the tight connection that we have nurtured with the Global South and the confidence that they repose in us...," he said.

"There are multiple divides and frictions in the world now, many of them overlapping. The fundamental one is between those powers competing for the top of the global hierarchy," he added.

Jaishankar further said that in some cases, our interests are directly affected and we should not be timid about making choices that benefit us.

"By and large, the optimal approach would be to make our judgment and then seek common ground with similar players," he said.

Meanwhile, he said that at times, situations could arise where the country has to play its own hand.

"A multi-vector foreign policy with national security and Comprehensive National Power (CNP) growth at its core is obviously the answer for India in these circumstances," he added.

Jaishankar emphasised that India, which is currently the fifth largest economy in the world is likely to be the third soon, with the kind of external interest it has developed.

"The fact is that the fifth largest economy in the world is likely to be the third soon, with the kind of external interest that we have developed and will continue to grow, we cannot shirk responsibilities," the External Affairs Minister said.

"In fact, it is very much in our interest that this uncertain world is stabilized to the extent possible, by rules, regimes and law," Jaishankar added.

(With Inputs From Agencies)