External Affairs Minister (EAM) Jaishankar has flagged supply chain disruptions and prolonged debt crisis as key challenges currently faced by the world. Some of the key points highlighted by him are:

• Supply chain disruptions: The COVID-19 pandemic has highlighted the vulnerability of global supply chains and the need for diversification. Countries are now undertaking measures to ensure self-sufficiency and reduce dependence on a single source, thereby increasing costs.
• Prolonged debt crisis: Several countries are facing a prolonged debt crisis, which has been exacerbated by the pandemic. This has led to a lack of funds for development programs and slowed down economic growth.
• Climate change: The global climate crisis is a significant challenge that requires coordinated global action. The impact of climate change is having severe consequences on the environment, leading to severe weather conditions and natural calamities.
• Security: The rise of non-state actors and terrorist groups is a significant challenge to global security. Cyberattacks and economic warfare pose a threat to national security, which calls for increased international cooperation.
• International governance: The global governance system has been challenged by the increasing power of non-state actors and the growing influence of emerging economies. The need for reform of international institutions has become more critical than ever before.

Overall, these challenges require comprehensive and coordinated global action to effectively tackle them.