Russian President Vladimir Putin on Monday participated virtually in the BRICS summit convened under Brazil’s chairmanship, with discussions focused on strengthening cooperation in trade, finance, and investment amid the evolving global economic landscape.

The Russian Embassy in India highlighted that the agenda was set against the backdrop of continued economic challenges driven by geopolitical frictions, sanctions, and conflict-linked disruptions.

External Affairs Minister S Jaishankar represented Prime Minister Narendra Modi at the summit, underscoring India’s approach that BRICS must play a stabilising role in the international economy and proactively address the cascading impact of global conflicts, particularly on the Global South.

In his address, Jaishankar spoke of the urgent need for trade and economic practices that were fair, transparent, and beneficial to all stakeholders, arguing that the world at large was seeking predictability and stability in its investment and trade climate. He stressed on the importance of constructing resilient, reliable, and diversified supply chains.

According to Jaishankar, this would require democratising manufacturing and relocating production hubs across various regions, thereby enhancing regional self-sufficiency and reducing vulnerabilities during times of disruption. His remarks positioned India as a strong voice for economic reforms that privilege inclusivity and global resilience.

Brazilian President Luiz Inácio Lula da Silva, chairing the BRICS meeting, amplified these ideas in his intervention, noting that the leaders collectively underlined the necessity of transitioning towards a more just, balanced, and inclusive international order.

He noted that such a framework must be capable of meeting the specific demands of the Global South, which continues to be disproportionately affected by conflicts, food insecurity, supply chain shocks, and inequitable access to finance.

Lula also disclosed through a message on X that discussions reaffirmed the BRICS commitment to multilateralism, including the reform of outdated international institutions that no longer reflect contemporary global realities.

By pledging to preserve and strengthen multilateral engagement, the BRICS leaders reiterated that their collective role was not confined solely to economic mechanisms but also to advancing peace, stability, and cooperative solutions to global challenges.

Putin’s participation, despite the geopolitical headwinds Russia faces, further exemplified Moscow’s intent to consolidate alternative multilateral forums like BRICS as a counterweight to Western-dominated platforms.

The convergence of positions during the summit signalled a unified BRICS front on economic reform, multilateral restructuring, and support for the Global South’s development, situating the grouping as an increasingly significant pillar in shaping the future contours of global governance.

Based On ANI Report