“Transparent, fair and non-discriminatory trade must remain the cornerstone of global commerce,” declared External Affairs Minister S. Jaishankar at the BRICS Virtual Summit.”
The one-day session, hosted by Brazil on September 8, brought together leaders and representatives from China, Russia, South Africa and the expanded bloc that now includes Egypt, Iran, the UAE and Indonesia. Against the backdrop of escalating tariff disputes with Washington, the summit became a platform for renewed calls to strengthen multilateralism and shield developing economies from the volatility of protectionism.
Representing India, Jaishankar emphasised that sustainable trade can only thrive when openness and equity are prioritised. He urged BRICS to create mechanisms that would help members address rising deficits and highlighted the need for special treatment of developing nations in global governance. His intervention reflected India’s preference for constructive solutions over confrontational rhetoric.
Chinese President Xi Jinping called for comprehensive reforms in international institutions, while Russian President Vladimir Putin renewed his push for de-dollarisation and closer financial coordination. The leaders collectively denounced “tariff blackmail,” yet stopped short of escalating the dispute with the United States.
For India, the summit reaffirmed its balancing strategy actively engaging in BRICS’ vision while maintaining room to safeguard strategic ties with the West.
