BRICS Trade: MEA Seeks Balance in Global Trade & Investment

External Affairs Minister S Jaishankar BRICS Trade Speech on Monday delivered a sharp message on the global trading system, emphasizing the urgent need for stability, predictability, and fairness in international commerce. Speaking at a BRICS meeting, Jaishankar’s remarks came against the backdrop of rising tariff wars, particularly with the United States, and broader concerns about supply chain disruptions.

BRICS Trade: Stability and Predictability as Cornerstones of Trade

Highlighting the disruptions that have unsettled global markets, Jaishankar stressed that the world is “seeking a stable and predictable environment for trade and investment.” He noted that multiple shocks — from tariff disputes to geopolitical conflicts — have exposed vulnerabilities, underscoring the need to “proof” the system against such risks by creating resilient and reliable supply chains.

“Economic practices must be fair, transparent, and beneficial to all. To safeguard against disruptions, we must build shorter, more resilient, and redundant supply chains,” Jaishankar said, urging collective global action.

Democratizing Manufacturing for Global Growth

Jaishankar called for the democratization of manufacturing and production, arguing that a wider geographical spread of growth would contribute to regional self-sufficiency. Such diversification, he said, would ease anxieties in times of global uncertainty and ensure that no region remains disproportionately vulnerable.

“Trade patterns and market access are now prominent issues in global economic discourse. Sustainable and cooperative approaches are the only way forward,” he observed.

BRICS Trade: Subtle Swipe at US Tariff Policies

Without naming the United States directly, Jaishankar took a veiled dig at former President Donald Trump’s aggressive tariff moves, warning against linking trade measures to non-trade matters.

“Increasing barriers and complicating transactions will not help anyone. The BRICS nations themselves can set an example by reviewing their trade flows. Some of India’s biggest trade deficits are with BRICS partners, and we are pressing for expedited solutions,” he said.

Reform of Multilateralism and Global Institutions

Another key point in the S Jaishankar BRICS Trade Speech was the need to reform global institutions. He lamented that international organizations have suffered “major shortfalls” in recent years, with gridlocks undermining common ground.

“This experience makes the case for urgent reform of multilateralism, especially of the United Nations and its Security Council,” Jaishankar emphasized.

Conflicts, Security, and the Global South

Turning to geopolitical conflicts, Jaishankar said they have worsened food, energy, and fertilizer security in the Global South. He also expressed concern about attacks on shipping routes, warning that such actions threaten not only trade but livelihoods.

“A selective approach to protection cannot be a global solution. An early end to hostilities and renewed diplomacy is the only durable path,” he added.

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