‘Fairness in Economy Is Essential’: Jaishankar’s Message at BRICS Summit

Jaishankar Calls for Fair, Transparent Economic Practices at BRICS Summit.

External Affairs Minister S. Jaishankar on Monday urged BRICS nations to promote fair and transparent economic practices, stressing the need for resilient supply chains in a time of global uncertainty.

Speaking at a virtual BRICS meeting convened to discuss U.S. President Donald Trump’s tariff measures, Jaishankar said the world requires stability and predictability in trade and investment.

“The world as a collective is seeking a predictable and stable environment for trade and investment. At the same time, it is imperative that economic practices are fair, transparent, and to everyone’s benefit,” he said.

Jaishankar emphasised that BRICS should work towards “democratising manufacturing and production” and strengthening supply chains to withstand disruptions.

Global Challenges and Multilateralism

The minister noted that recent years have exposed vulnerabilities in the global system, pointing to the COVID-19 pandemic, conflicts in Ukraine and West Asia, volatile trade and investment flows, extreme climate events, and the slowdown of the Sustainable Development Goals (SDG) agenda.

“In the face of these challenges, the multilateral system appears to be failing the world,” he said, adding that BRICS must find “common ground” among its members to stabilise the international economy and world order.

Jaishankar also underlined the link between ongoing geopolitical conflicts and their direct impact on supply chains, urging BRICS to place greater focus on conflict resolution while preparing for the upcoming UN General Assembly session.

Lula’s Push on Tariffs

The meeting, called by Brazilian President Luiz Inácio Lula da Silva, was aimed at addressing the implications of tariffs imposed by the U.S. administration. BRICS members, Jaishankar noted, represent diverse societies but share vulnerabilities in the current global economic climate.