New Delhi: At the ongoing BRICS Summit on Monday, India’s External Affairs Minister S. Jaishankar emphasized the need for fair, transparent, and mutually beneficial economic practices in an increasingly uncertain global environment. Addressing the virtual gathering, Jaishankar called for collective action to build resilient supply chains and democratize manufacturing amidst growing disruptions caused by conflicts, climate crises, and trade volatility.
“The world is seeking a predictable and stable environment for trade and investment. At the same time, economic practices must be fair, transparent, and beneficial to all,” Jaishankar said. “In times of disruption, our objective should be to safeguard supply chains against shocks and ensure that production is not limited to a few regions but democratized across nations.”
The call for reforms comes as Brazilian President Luiz Inácio Lula da Silva urged BRICS members to discuss the impact of tariffs imposed by U.S. President Donald Trump, which have raised concerns over global trade imbalances.
Jaishankar pointed out that the multilateral system is struggling to address today’s challenges. “The last few years have witnessed a devastating impact from the COVID-19 pandemic, major conflicts in Ukraine and West Asia, volatility in trade and investment flows, extreme climate events, and a slowdown in achieving the Sustainable Development Goals,” he noted.
“These cumulative crises have exposed the fragility of the global system,” he added, urging BRICS members—representing diverse societies across continents—to find common ground in tackling shared challenges.
The minister stressed that stabilizing the international economy and restoring a rules-based world order must remain a priority. “Equally, it is critical to address ongoing conflicts, as they directly impact supply chains and global markets,” he said. With the upcoming session of the United Nations General Assembly, Jaishankar suggested that multilateral discussions on trade, investment, and cooperation would be timely and necessary.
As BRICS deliberates over tariff disputes and economic governance, Jaishankar’s remarks underscored the need for inclusive growth and coordinated action to strengthen global resilience.
