In his speech at the on line BRICS Summit, Foreign Minister Subrahmanyan Jaishankar noted that the current global situation is a cause for genuine concern due to the aforementioned issues and a notable slowdown in the Sustainable Development Goals agenda.

Representing Prime Minister Narendra Modi, the Indian Foreign Minister stated that, in the face of these challenges, the multilateral system appears to be failing the world, and it is understandable that so many serious tensions remain unaddressed, which has consequences for the global order itself.

He noted that, in addition to analyzing the global economic situation, it is essential to pay attention to ongoing conflicts, due to their direct implications for development and supply chains.

Jaishankar also called for an exchange of views on the reform of multilateralism, given the upcoming session of the United Nations General Assembly.

He considered it imperative to create more resilient, reliable, redundant, and shorter supply chains and achieve fair, transparent, and mutually beneficial economic practices, as well as to democratize manufacturing and production and foster their growth across different geographies.

The Indian Foreign Minister added that the world needs constructive and cooperative approaches to promote sustainable trade, and, in that regard, suggested that the Brics lead by example by reviewing trade flows among its member states.

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