Jaishankar calls for resilient supply chains, predictable business environment across BRICS countries

External Affairs Minister S Jaishankar urged for more resilient supply chains, predictable business environments, and diversified trade relationships during the BRICS Business Forum. In his speech, Jaishankar emphasized that the economic strength of the BRICS nations would increasingly rely on their ability to absorb global disruptions while remaining connected and competitive.

He noted that the forum was taking place amidst significant geopolitical and economic upheaval, with conflicts, pandemics, and climate-related events reshaping economies. At the same time, digitization and technological advancements are creating new growth opportunities. Jaishankar stressed that the BRICS business community should not only identify commercial prospects but also work towards making cross-border trade easier and more resilient.

Key priorities, according to Jaishankar, include supply-chain connectivity, trade facilitation, services, agriculture and agri-technology, digital delivery, MSMEs, start-ups, and women-led enterprises. The common goal should be to help businesses forge more partnerships, access new markets, connect supply networks, and transform complementary economies into viable commercial partnerships.

Jaishankar linked stronger economic ties within BRICS to enhanced economic security and self-reliance, cautioning that this should not lead to isolation. For the BRICS nations, he argued, greater economic activity and security means becoming more self-reliant, which requires a robust ability to withstand shocks. This entails genuine market practices, dependable logistics, a predictable business environment, diversified commercial relationships, and transparent trade and investment.

The minister also highlighted the importance of energy systems capable of coping with disruption and transition, recognizing that different pathways will be followed based on national circumstances. He acknowledged the intersection of technology, economics, and geopolitics, pointing to digital public infrastructure, artificial intelligence, fintech, and advanced manufacturing as areas of significant opportunity. However, he also cautioned about the associated challenges in terms of access, standards, security, and trust.