New Delhi, May 15: External Affairs Minister S. Jaishankar stated on Friday that the world today is more interconnected, complex, and multipolar than ever before, necessitating a more reliable and reformed multilateralism. Speaking at the BRICS Foreign Ministers’ meeting on the topic of “Global Governance and Reform of the Multilateral System,” Jaishankar highlighted that the effectiveness and credibility of the United Nations will remain limited until both permanent and temporary categories of the Security Council are expanded.
He also stressed the need for reforming the international financial architecture, advocating for stronger, more accountable, and capable Multilateral Development Banks (MDBs). Furthermore, he emphasized the importance of facilitating access to development and climate finance.
Jaishankar pointed out the critical need for a rules-based, fair, open, and inclusive international trading system centered around the World Trade Organization (WTO). He mentioned challenges such as non-market practices, centralization of supply chains, and uncertainties in market access.
“The message of today’s era is clear—cooperation is essential, dialogue is necessary, and reforms can no longer be delayed,” he remarked.
The two-day BRICS Foreign Ministers’ meeting is concluding today and is considered significant under India’s BRICS presidency as it sets the agenda for the upcoming BRICS leaders’ summit later this year.
Earlier, Prime Minister Narendra Modi stated that under India’s presidency, BRICS will work together to strengthen multilateralism, promote sustainable development, enhance economic resilience, and create a more inclusive global order.
Modi made these comments during a meeting with the foreign ministers and heads of delegations from BRICS countries in New Delhi. He expressed his pleasure in engaging with them on social media platform X, stating, “BRICS has emerged as an important platform for enhancing cooperation among emerging economies and voicing the aspirations of the Global South.”
He further added, “Under India’s presidency, we will work together to strengthen multilateralism, promote sustainable development, enhance economic resilience, and create a more inclusive world order.”
Deependra Singh Chundawat is a Senior Sub-Editor at Udaipur Kiran, specializing in a wide range of technology topics including mobile phones, applications, gaming, PCs, and wearables. Along with covering the latest tech news, he also creates engaging web stories. Passionate about emerging technologies, he stays up to date with the newest trends and enjoys reading and writing about the latest mobile launches and digital innovations.