India’s External Affairs Minister S Jaishankar, addressing the virtual BRICS leaders’ summit, emphasised the need to safeguard the foundational principles of the international trading system, warning that increasing trade barriers and complicating transactions are counterproductive. He urged member states to promote fair, transparent, and equitable economic practices, highlighting the importance of constructive and cooperative approaches for sustainable global trade.

Protection of Trading Principles

Jaishankar outlined that the present global order requires open, fair, transparent, non-discriminatory, inclusive, and rules-based frameworks, especially with provisions such as Special and Differential Treatment for developing countries. According to him, these pillars are crucial for nurturing a healthy international trading system. He stressed that market access and trade patterns have become prominent and contentious aspects in today’s economic discourse, making adherence to these principles not just ideal but essential.

Call Against New Barriers

The Minister explicitly argued that raising barriers and introducing transactional complexities do not serve collective interests. He cautioned against connecting trade measures to non-trade matters, asserting that such links only complicate global flows. Using India’s trade relations as an example, Jaishankar pointed out that some of India’s largest deficits are with fellow BRICS members and strongly advocated for expeditious and constructive solutions to these imbalances. He expressed hope that this realisation would become one of the summit’s key outcomes, setting a precedent for other groupings.

Supply Chain Resilience And Democratising Production

Addressing the volatility in global trade and investment—exacerbated by ongoing conflicts in Ukraine and West Asia, US tariff actions, and supply chain shocks—Jaishankar emphasised the need to establish more resilient, reliable, and shorter supply chains. He asserted that democratising manufacturing and production as well as expanding growth across diverse geographies would foster regional self-sufficiency and stabilise the international economy, relieving anxieties during periods of uncertainty. This, he argued, was especially urgent since the Global South, including BRICS members, continue to face deteriorating conditions in food, energy, and fertiliser security.

Critique of Multilateral Institutions And UN Reforms

Jaishankar strongly implied that multilateral institutions have failed to keep pace with current global challenges. He cited gridlocks at the United Nations and its Security Council, which have prevented meaningful action on core global issues.

These shortcomings, he said, strengthen the case for urgent reforms in the multilateral system—a cause the BRICS have pledged to support. The Minister encouraged the grouping to become a leading voice for much-needed institutional changes, particularly as the upcoming UNGA conference approaches.

Food, Energy, And Security Concerns

The Minister additionally highlighted the deteriorating conditions faced by the Global South, underscoring challenges such as food and energy insecurity, targeted shipping, and disruptions that threaten both trade and livelihoods. He argued that selective protectionism cannot be a global solution, and called for a diplomatic and durable end to ongoing hostilities, advocating a return to constructive negotiation and multilateral cooperation.

Conclusion

Through his remarks, Jaishankar presented a clear agenda: protect the openness and fairness of international trade, move away from rising protectionism, and focus on reformed and stable multilateral institutions to weather ongoing global shocks.

His address set forth BRICS as an example for deeper economic cooperation, resilient supply chains, and democratised global production—all aimed at stabilising the international economy and ensuring benefit to all member states.

Based On ANI Report