New Delhi [India], September 8 (ANI): External Affairs Minister S. Jaishankar on Monday called on BRICS nations to strengthen the principles of the international trading system, warning that raising barriers and linking trade to non-trade issues would undermine global stability. He urged the grouping to focus on fair, transparent, and rules-based economic practices while addressing disruptions to global supply chains and conflicts affecting the Global South.
Representing Prime Minister Narendra Modi at a virtual BRICS Leaders’ Summit chaired by Brazilian President Luiz Inacio Lula da Silva, Jaishankar said the world is seeking a stable and predictable environment for trade and investment. “The international trading system is based on openness, fairness, transparency, inclusivity, equity, and a rules-based approach with special treatment for developing countries. India strongly believes that this should be protected and nurtured,” he said.
The minister noted that trade patterns and market access have become central to global economic discourse. “Increasing barriers and complicating transactions will not help. Neither would the linking of trade measures to non-trade matters. The BRICS itself can set an example by reviewing trade flows among its member states. Where India is concerned, some of our biggest deficits are with BRICS partners and we’ve been pressing for expeditious solutions,” he added.
Jaishankar underlined the need to create resilient, reliable, redundant, and shorter supply chains while democratizing manufacturing and production to encourage growth in diverse geographies. “Progress in that regard will contribute to regional self-sufficiency and relieve anxieties at times of uncertainty,” he said.
The minister’s remarks came against the backdrop of heightened trade tensions, including steep tariffs imposed by the U.S. on Indian goods—some as high as 50 percent—along with penalties for importing Russian oil. These measures, Jaishankar noted, add to existing volatility in trade and investment flows.
He also flagged broader challenges facing the global economy, including the lingering impact of the COVID-19 pandemic, extreme climate events, the slowing UN Sustainable Development Goals agenda, and deteriorating food, energy, and fertilizer security in the Global South. “When shipping is targeted, not just trade, but livelihoods also suffer. A selective protection cannot be a global answer. An early end to the hostilities and undertaking diplomacy to ensure a durable solution is the obvious pathway,” he said, referring to conflicts in Ukraine and West Asia.
Jaishankar further emphasized the urgency of reformed multilateralism, particularly within the United Nations and its Security Council. “On key issues, gridlocks have undermined the search for common ground. These experiences have only made the case for reform more urgent. The BRICS have taken a positive view of this need, and we expect it will collectively become a strong voice for much awaited change,” he said.
Concluding his remarks, Jaishankar stressed that BRICS members—despite their diversity—must find common ground to stabilize the international economy and global order. “The world as a collective is seeking stability. It is imperative that economic practices are fair, transparent, and to everyone’s benefit,” he said. (ANI)
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