External Affairs Minister S. Jaishankar addressed the BRICS Summit, stressing the need for fair and transparent economic practices to benefit all in an increasingly uncertain world. Speaking at the virtual meeting, he highlighted the importance of building resilient supply chains amid global disruptions, from Covid-19 and conflicts in Ukraine to climate crises and volatile trade flows. Jaishankar called for democratized manufacturing and production, warning that the multilateral system is failing to address today’s global challenges. BRICS leaders, including Brazil’s Lula, also raised concerns over U.S. tariffs under Trump.
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00:00Thank you. Your Excellency, President Lula de Silva, Your Highness, Excellencies, Namaskar and good evening.
00:09It is my privilege to represent Prime Minister Narendra Modi at this virtual meeting of BRICS leaders.
00:17I convey his warm greetings to all of you.
00:21The state of the world today, Excellencies, is a cause for genuine concern.
00:26The 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.
00:48In the face of these challenges, the multilateral system appears to be failing the world.
00:54That so many serious stresses are being left unaddressed is understandably having consequences for the global order itself.
01:05It is this cumulative concern that BRICS is now discussing.
01:11Excellencies, the members of BRICS represent a broad diversity of societies who are nevertheless deeply affected by these developments.
01:22Even in the past, our endeavor has been to find common ground between our respective national policies and to act on that basis.
01:31Today, the focus is on stabilizing the international economy and the world order.
01:39But it is equally essential that we turn our attention to ongoing conflicts, not least because they have direct developmental and supply chain implications.
01:51Furthermore, as we head towards the next UN General Assembly session, an exchange of views on reforming multilateralism would be appropriate.
02:00The world, as a collective, is seeking a stable and predictable environment for trade and investment.
02:10At the same time, it is imperative that economic practices are fair, transparent, and to everyone's benefit.
02:18When there are multiple disruptions, our objective should be to prove it against such shocks.
02:26That means creating more resilient, reliable, redundant, and shorter supply chains.
02:33Not just that, it is also essential that we democratize manufacturing and production and encourage the growth in different geographies.
02:43Progress in that regard will contribute to regional self-sufficiency and relieve anxieties at times of uncertainties.
02:53Your Highness, Excellencies, trade patterns and market access are today prominent issues in the global economic discourse.
03:02The world requires constructive and cooperative approaches to promote trade that is sustainable.
03:10Increasing barriers and complicating transactions will not help.
03:16Neither would the linking of trade measures to non-trade matters.
03:22The BRICS itself can set an example by reviewing trade flows among its member states.
03:27Where India is concerned, some of our biggest deficits are with BRICS partners, and we have been pressing for expeditious solutions.
03:36We hope that this realization will be part of the takeaways from today's meeting.
03:42The international trading system is based on the foundational principles of open, fair, transparent, non-discriminatory,
03:51non-discriminatory, inclusive, equitable, and a rules-based approach with special and differential treatment for developing countries.
04:00India strongly believes that this should be protected and nurtured.
04:06Excellencies, the world today also seeks an urgent resolution of ongoing conflicts.
04:13The global south has experienced a deterioration in its food, energy, and fertilizer security.
04:20Where shipping is targeted, not just trade, but livelihoods also suffer.
04:26A selective protection cannot be a global answer.
04:30An early end to the hostilities and undertaking diplomacy to ensure a durable solution is the obvious pathway before us.
04:40The working of international organizations in the last few years has witnessed major shortfalls in many areas.
04:47On key issues, we have unfortunately seen that gridlocks have undermined the search for common ground.
04:55These experiences have only made the case for reformed multilateralism generally,
05:00and that of the United Nations and its Security Council specifically, more urgent.
05:06The BRICS have taken a positive view of this need for reform, and we expect that it would collectively become a strong voice for much-awaited change.
05:18Excellencies, even as the world grapples with policy changes, we must not lose sight of bigger concerns, especially climate change.
05:26Sadly, both climate action and climate justice are currently slipping in global priorities.
05:34We need new thinking and initiatives as well.
05:37I commend the International Solar Alliance, the Coalition for Disaster Resilient Infrastructure, and the Global Biofuels Alliance for your consideration.
05:46In conclusion, let me again thank President Lula de Silva for convening us today, and for the opportunity to present India's views and positions.
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