Jaishankar dubs BRICS as ‘symbol of change’, advocates multipolarity

The world is undergoing rebalancing & traditional approaches are inadequate for addressing new realities: Dr Jaishankar

NEW DELHI | Updated: 02 June, 2023 1:09 pm IST
Over the years, the BRICS countries have played a pivotal role in driving global economic growth.

NEW DELHI: External affairs minister Dr S Jaishankar on Thursday reiterated the significance of the BRICS alliance as a “symbol of change” and emphasized the need for a serious and constructive approach to contemporary issues.

Speaking at the BRICS foreign ministers’ meeting in Cape Town, South Africa, Jaishankar called for the promotion of inclusive and decentralized economic practices as essential for global political democratization.

“Our gathering must send a resolute message that the world is multipolar, undergoing rebalancing, and that traditional approaches are inadequate for addressing new realities. As a symbol of change, we must act accordingly,” he told the BRICS foreign ministers.

In his opening address, Jaishankar underscored the challenges posed by economic concentration, noting its impact on various sectors such as production, resources, services, and connectivity.

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He emphasized the vulnerability faced by many nations due to economic concentration and cited recent incidents affecting health, energy, and food security as illustrations of this fragility.

India has actively participated in the Voice of the Global South initiative within the G20 to address these concerns, and Jaishankar urged BRICS to prioritize and champion economic decentralization as a crucial step towards political democratization.

Over the years, the BRICS countries have played a pivotal role in driving global economic growth. This alliance, consisting of major emerging economies, focuses on political and security cooperation, economic and financial collaboration, as well as cultural and people-to-people exchanges. Collectively, the BRICS nations represent 41 per cent of the world’s population, hold 24 per cent of the global GDP, and account for over 16 per cent of global trade.

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Jaishankar also stressed the urgency of reforms at the United Nations Security Council (UNSC), highlighting the shortcomings of the current international architecture in reflecting contemporary political, economic, demographic, and aspirational realities.

He expressed disappointment in the prolonged calls for multilateral institutional reform and urged BRICS members to demonstrate genuine commitment to reforming global decision-making processes, including those of the UNSC.

Addressing the issue of terrorism, the EAM reiterated the need for resolute action against all forms and manifestations of this global threat. He called on all nations to take decisive measures to combat terrorism, including addressing its financing and propaganda.

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