Jaishankar Warns BRICS Against Linking Trade Policies To Political Issues

At the BRICS leaders’ virtual summit hosted by Brazilian President Luiz Inácio Lula da Silva, External Affairs Minister S. Jaishankar cautioned against the growing practice of linking trade measures with political or non-economic issues. His remarks came against the backdrop of the recent U.S. decision to impose additional tariffs on Indian goods over its purchase of Russian oil.

Jaishankar stressed the importance of ensuring a stable and predictable environment for trade and investment, warning that practices lacking fairness, transparency and mutual benefit undermine global economic stability. He pointed out that the world continues to grapple with multiple challenges, including the aftermath of the pandemic, ongoing geopolitical conflicts, climate change and slow progress on sustainable development goals.

Calling for stronger cooperation within BRICS, he highlighted the need to review intra-BRICS trade flows and address India’s large trade deficits with several partner countries. He urged members to find timely solutions and emphasized that current global problems such as disrupted supply chains, food and energy insecurity and fragmented manufacturing require more resilient and diversified production networks.

Reiterating India’s broader trade outlook, Jaishankar said that the international trading system must remain open, fair, transparent, inclusive and non-discriminatory, rooted in rules and providing special and differential treatment to developing nations.

With Prime Minister Modi absent, Jaishankar’s participation underscored India’s balancing act as it seeks to safeguard trade interests while navigating political and economic pressures on the global stage.