New Delhi: At the virtual BRICS summit held on Sunday, External Affairs Minister Dr S Jaishankar made a strong pitch for equitable global economic practices, emphasising that trade frameworks must be inclusive and beneficial to all nations.
His remarks come at a time when tariff-related tensions — particularly those linked to US policies under President Donald Trump — have reignited debates on protectionism and global trade fairness.
Addressing his counterparts from Brazil, Russia, China, and South Africa, Jaishankar underscored the need for “transparent, fair and balanced” economic systems. He cautioned against unilateral trade measures that disproportionately impact developing economies, and called for a collective push towards reforming global institutions to reflect contemporary realities.
“Economic practices must be fair and must benefit everyone,” Jaishankar asserted, adding that the BRICS bloc must champion a more democratic and inclusive global order. He also highlighted the importance of strengthening South-South cooperation and building resilient supply chains that are not vulnerable to geopolitical disruptions.
The minister’s comments were widely interpreted as a veiled critique of recent tariff hikes and trade restrictions imposed by the United States, which have affected several emerging markets. While Jaishankar did not name any country directly, his emphasis on multilateralism and equitable growth struck a chord with fellow BRICS members, many of whom have voiced similar concerns in recent months.
India’s proactive stance at the summit signals its intent to play a leading role in shaping the future of global trade, especially as the world grapples with economic fragmentation and shifting alliances.