At BRICS Meet, Jaishankar Stresses Need for Equitable Economic Practices

Jaishankar Urges BRICS to Ensure Fair Economic Practices, Strengthen Supply Chains.

External Affairs Minister S. Jaishankar on Monday called on BRICS nations to uphold fairness and transparency in global economic practices, warning that multiple disruptions are undermining growth and stability. Speaking at a virtual BRICS Summit convened by Brazilian President Luiz Inácio Lula da Silva to discuss U.S. President Donald Trump’s tariff policies, Jaishankar said the grouping must focus on building resilience.

“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. He stressed the need to “democratise manufacturing and production” and develop stronger supply chains to withstand global shocks.

Warning on Multilateral System

Jaishankar voiced concern that the multilateral system is “failing the world,” citing the COVID-19 pandemic, the wars in Ukraine and West Asia, volatile investment flows, climate extremes, and the slowing Sustainable Development Goals (SDG) agenda.

“The state of the world is a cause of genuine concern,” he said, adding that BRICS must find common ground to stabilise the global economy while also addressing the conflicts driving supply chain disruptions.

Tariffs Under Spotlight

The meeting, initiated by President Lula, focused heavily on U.S. tariffs and their impact on global trade. Jaishankar said BRICS, despite its diversity, is well-placed to push for reforms that ensure a more equitable and reliable international order.