EAM Jaishankar urges BRICS to stabilise global economy, push reforms - World News Network

New Delhi [India], September 9 (ANI): External Affairs Minister (EAM) S Jaishankar, representing Prime Minister Narendra Modi at the virtual BRICS Leaders’ Summit on Monday, raised concerns over global instability caused by conflicts, economic volatility, climate crises and the slowing progress of Sustainable Development Goals (SDGs).
In a post on X earlier, Jaishankar said, “Represented PM @narendramodi at the virtual BRICS Summit earlier this evening. India’s message was that BRICS should work towards stabilizing the international economy, address the impact of ongoing conflicts on the Global South & proactively support reforming multilateralism.”
https://x.com/DrSJaishankar/status/1965056588353327187
Addressing the summit, Jaishankar said, “The state of the world today is a cause for genuine concern. The last few years have witnessed the devastating impact of the Covid pandemic, major conflicts in Ukraine and the Middle East, volatility in trade and investment flows, extreme climate events and a discernible slowing down of the SDG Agenda. In the face of these challenges, the multilateral system appears to be failing the world.”
He stressed that BRICS members represent a broad diversity of societies, yet all are affected by these developments. “Today, the focus is on stabilising the international economy and the world order. But it is equally essential that we turn our attention to ongoing conflicts, not least because they have direct developmental and supply chain implications,” he added.
Calling for resilience in the global economy, the minister underlined the need for shorter and more reliable supply chains. “When there are multiple disruptions, our objective should be to prove it against such shocks. That means creating more resilient, reliable, redundant and shorter supply chains. It is also essential that we democratize manufacturing and production and encourage their growth in different geographies,” he said.
On trade, Jaishankar emphasised constructive and cooperative approaches. “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 have been pressing for expeditious solutions,” he stated.
He reiterated India’s strong belief in a rules-based international trading system. “The international trading system is based on the foundational principles of open, fair, transparent, non-discriminatory, inclusive, equitable and a rules-based approach with Special and Differential Treatment for developing countries. India strongly believes that this should be protected and nurtured,” he said.
Speaking on ongoing conflicts, Jaishankar warned of their global consequences. “The Global South has experienced a deterioration in its food, energy and fertiliser security. Where 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 before us,” he said.
Jaishankar also pressed for reforms in international organisations, including the UN Security Council. “On key issues, we have unfortunately seen that gridlock has undermined the search for common ground. These experiences have only made the case for reformed multilateralism generally, and that of the United Nations and its Security Council specifically, more urgent,” he noted, adding that BRICS has taken a “positive view” of this need for change.
He further urged renewed global focus on climate action and justice. “Sadly, both climate action and climate justice are currently slipping in global priorities. We need new thinking and initiatives as well. I commend the International Solar Alliance, the Coalition for Disaster Resilient Infrastructure and the Global Bio-fuels Alliance for your consideration,” he said.
Concluding his remarks, Jaishankar thanked Brazil’s President Luiz Inacio Lula da Silva for convening the summit and providing the opportunity to present India’s views and positions. (ANI)

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