External Affairs Minister S. Jaishankar, representing Prime Minister Narendra Modi at the virtual BRICS Leaders’ Meeting, said on Monday that the state of the world today is a matter of concern, with the multilateral system failing to adequately address global challenges.
Dr. Jaishankar noted that serious stresses are being left unattended, which is having direct consequences for the global order. He highlighted the need for constructive and cooperative approaches to promote sustainable trade, warning that increasing barriers and linking trade to non-trade issues would be counterproductive.
“The last few years have witnessed the devastating impact of the Covid pandemic, major conflicts in Ukraine and West Asia, volatility in trade and investment flows, extreme climate events and a slowing down of the SDG Agenda. In the face of these challenges, the multilateral system appears to be failing the world,” he added.
The Union Minister said trade patterns and market access are today prominent issues in the global economic discourse.
“The world requires constructive and cooperative approaches to promote trade that is sustainable. 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. We hope that this realization will be part of the takeaways from today’s meeting,” he said.
On strengthening economic resilience, Jaishankar underlined the importance of reliable supply chains and decentralized production. “Our objective should be to proof it against shocks by creating more resilient, reliable, redundant and shorter supply chains. Democratizing manufacturing and encouraging growth in different geographies is equally vital,” he said.
The Minister also expressed concern over deteriorating food, energy and fertilizer security in the Global South, cautioning that disruptions in shipping threaten both trade and livelihoods. He called for diplomacy and dialogue to end hostilities and achieve durable solutions.
Stressing the urgency of reforms in international organizations, including the UN Security Council, Dr. Jaishankar said that gridlocks on key issues have undermined the search for common ground. He reiterated India’s call for reformed multilateralism and noted that BRICS has taken a positive view of this need.
On climate change, he said that both climate action and climate justice are slipping in global priorities. He commended initiatives such as the International Solar Alliance, the Coalition for Disaster Resilient Infrastructure and the Global Bio-fuels Alliance as examples of new thinking.
-ANI