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External Affairs Minister 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 a slowing Sustainable Development Goals (SDG) agenda.
“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,” Jaishankar said.
He noted 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 proof it against such shocks. That means creating more resilient, reliable, redundant and shorter supply chains. It is also essential that we democratise 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 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 gridlocks have 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.
(ANI)
