External Affairs Minister Jaishankar said in the BRICS summit - Economic dealings should be fair and transparent

Amid growing global concerns over US tariffs, External Affairs Minister S Jaishankar on Monday said the world wants a stable and predictable environment for trade and investment and economic dealings should be fair, transparent and for the benefit of all. Addressing the virtual BRICS summit, the External Affairs Minister said that India firmly believes that fundamental principles such as an open, fair, transparent and non-discriminatory approach to the international trade system should be protected.

Addressing the virtual BRICS summit, Jaishankar said, India firmly believes that fundamental principles such as an open, fair, transparent and non-discriminatory approach to the international trade system should be protected. Jaishankar said, when there are many disruptions, our aim should be to protect it from such shocks. This means creating more resilient, reliable, redundant and shorter supply chains. Jaishankar said the world needs a creative and collaborative approach to promote sustainable trade. He said, raising barriers and complicating transactions will not help. Nor will linking trade measures to non-trade matters help.

#WATCH | During the virtual Summit of BRICS Leaders, EAM Dr S Jaishankar says, "The world today also seeks an urgent resolution of ongoing conflicts. The Global South has experienced a deterioration in its food, energy and fertilizer security. Where shipping is targeted, not just… pic.twitter.com/6XbCRbYK4I — ANI (@ANI) September 8, 2025

The Foreign Minister said that BRICS can set an example for itself by reviewing trade flows between its member countries. As far as India is concerned, some of our biggest deficits are with BRICS partners. We are pressing for an early solution. We hope that this realization will be part of the conclusions of today's meeting. This comment is important because it has come amid India's growing trade deficit with China. Jaishankar said, the international trade system is based on the fundamental principles of open, fair, transparent, non-discriminatory, inclusive, equitable and rule-based approach with special and differential treatment for developing countries.

Brazilian President Luiz Inacio Lula da Silva organized this summit to discuss trade disruptions caused by Washington's trade and tariff policies. Chinese President Xi Jinping, Russian President Vladimir Putin and many other BRICS leaders were present at the summit. Jaishankar represented Prime Minister Narendra Modi.

The foreign minister said the situation in the world today is a matter of genuine concern. He listed the devastating impact of the Covid pandemic, major conflicts in Ukraine and the Middle East, instability in trade and investment flows, and extreme climate events as some of the major challenges faced by the world in the last few years. "In the face of these challenges, the multilateral system appears to be failing the world. The fact that so many serious tensions are left unaddressed naturally reflects the consequences on the global order," Jaishankar said.