Global Trade Stability: Jaishankar Calls for Fair Economic Practices at BRICS Summit

India's External Affairs Minister S Jaishankar stressed the importance of a stable and predictable environment for global trade and investment during a virtual BRICS summit. Jaishankar, representing Prime Minister Narendra Modi, emphasized the need for fair and transparent economic practices as global tensions rise over U.S. tariff policies.

The summit, organized by Brazilian President Luiz Inacio Lula da Silva, aimed to address trade disruptions stemming from Washington's trade and tariff strategies. Leaders, including Chinese President Xi Jinping and Russian President Vladimir Putin, participated in assessing the impact of such policies on global economic stability.

Jaishankar called for creating resilient, reliable, and shorter supply chains and underscored the importance of separating trade measures from non-trade issues. He noted India's significant trade deficits with BRICS countries and advocated for inclusive, equitable, and rules-based international trading systems, particularly for developing nations.

(With inputs from agencies.)