ECONOMY
Jaishankar stresses on need for fair and transparent economic practices
- IBJ Bureau
- Sep 09, 2025
External Affairs Minister S Jaishankar has said that economic practices must be fair, transparent and to everyone’s benefit in the environment of global uncertainty.
Addressing the BRICS summit virtually – called by Brazilian President Luiz Inacio Lula da Silva to discuss tariffs imposed by US President Donald Trump – Mr Jaishankar has said: “The world as a collective is seeking a stable and predictable environment for trade and investment. At the same time, it is imperative that economic practices are fair, transparent and to everyone’s benefit. When there are multiple disruptions, our objective should be to proof it against such shocks. That means creating more resilient, reliable, redundant and shorter supply chains.”
It is also essential that we democratise manufacturing and production and encourage their growth in different geographies, he has added.
“Progress in that regard will contribute to regional self-sufficiency and relieve anxieties at times of uncertainty,” he has noted.
Sounding a cautionary note, Mr Jaishankar points out that the current state of global affairs, marked by the tumult of the COVID-19 pandemic, conflicts in Ukraine and West Asia, trade volatility, extreme climate events and a lagging Sustainable Development Goals (SDG) agenda, has left the international multilateral system faltering under pressure.
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