External Affairs Minister S Jaishankar on Monday underlined that the “state of the world today is a cause for genuine concern,” warning that the multilateral system “appears to be failing the world” amid multiple crises. Representing Prime Minister Narendra Modi at the virtual BRICS Leaders’ Summit, he stressed that “so many serious stresses are being left unaddressed” and this “is having consequences for the global order itself.”
“The last few years have witnessed the devastating impact of the Covid pandemic, major conflicts in Ukraine and the Middle East/West Asia, 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. That so many serious stresses are being left unaddressed is understandably having consequences for the global order itself. It is this cumulative concern that the BRICS is now discussing,” Jaishankar said.
On global trade, Jaishankar said that the world requires “constructive and cooperative approaches to promote trade that is sustainable.” He cautioned against protectionism, saying: “Increasing barriers and complicating transactions will not help. Neither would the linking of trade measures to non-trade matters.”
Jaishankar highlighted that India has significant trade deficits with its BRICS partners. “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.
He reaffirmed India’s commitment to a rules-based trading framework. “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 added.
Calling for greater resilience, Jaishankar stressed the importance of secure supply chains and decentralized production. “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 democratize manufacturing and production and encourage their growth in different geographies,” he said.
The minister also pointed to the impact of conflicts on the Global South. “The Global South has experienced a deterioration in its food, energy and fertilizer 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.
On institutional reform, Jaishankar underlined the urgent need to restructure global bodies 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.
Turning to climate change, he expressed concern over declining attention to climate priorities. “Sadly, both climate action and climate justice are currently slipping in global priorities. We need new thinking and initiatives as well. I commend the International Solar Alliance, the Coalition for Disaster Resilient Infrastructure and the Global Bio-fuels Alliance for your consideration,” he said.
*With Agency Inputs
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