BRICS Countries Must Adapt to Rapidly Changing Global Environment: Jaishankar

External Affairs Minister S Jaishankar on Friday said the global political and economic order was undergoing significant changes, with volatility, uncertainty and complexity emerging as defining features of the international landscape. Addressing the BRICS Business Forum in New Delhi, Jaishankar said geopolitical conflicts, pandemics and climate-related disruptions were having significant economic consequences, even as rapid digitisation and technological advances were creating new opportunities for growth, productivity and development. “We meet at a time when global political and economic order is under churn. Volatility, uncertainty, and complexity have become defining features of the world around us. We are witnessing the economic consequences of geopolitical conflicts, of pandemics, and of climate-related disruptions,” Jaishankar said. “At the same time, rapid digitisation and technological advances are opening new possibilities for growth, productivity and development,” he added. The External Affairs Minister said the changing global environment was creating an economic landscape in which both risks and opportunities were becoming increasingly distributed, making the ability to anticipate, adapt and respond more important. “The result is an economic landscape where both risks and opportunities are becoming more widely distributed and where the ability to anticipate, adapt and respond is acquiring greater importance,” he said. Jaishankar said the focus for BRICS should be on creating an environment that enables businesses across member countries to expand partnerships, access new markets and build stronger supply networks. “The common thread is how to make it easier for businesses in our countries to find more partners, access more markets, connect supply networks and convert complementarities into viable commercial partnerships,” he said. He added that for BRICS, greater economic activity and economic security should go hand in hand with stronger self-reliance. “For BRICS particularly, higher economic activity and higher economic security mean greater self-reliance. The objective is to strengthen our ability to absorb shocks while remaining connected and competitive,” Jaishankar said. The External Affairs Minister called for genuine market practices, dependable logistics, a predictable business environment, diversified commercial relationships and transparent trade and investment to strengthen the economic resilience of BRICS countries. He also underlined the importance of energy systems capable of withstanding disruptions and transition pathways that take into account the different circumstances of individual countries. “That calls for genuine market practices, dependable logistics, a predictable business environment, diversified commercial relationships, and transparent trade and investment. It also calls for energy systems capable of coping with disruption and transition pathways that are suited to different national circumstances,” he said. The BRICS Business Forum is the grouping’s principal platform for private-sector engagement and is held in the country hosting the BRICS Summit ahead of the Leaders’ meeting. It brings together business leaders, government representatives and heads of state to discuss trade, investment, finance, technology and sustainable economic development. The forum also provides a platform for the BRICS Business Council to present recommendations and proposals to policymakers. Its outcomes and recommendations contribute to discussions on the grouping’s economic priorities and subsequent programmes of work. These areas include expanding intra-BRICS trade and investment, strengthening the digital economy, supporting micro, small and medium enterprises, improving standards cooperation and integrating value chains. The main programme of the 18th BRICS Summit will begin on September 12, with leaders expected to discuss India’s priorities during its 2026 chairship and ways to further strengthen the BRICS strategic partnership. India is hosting the summit in New Delhi on September 12-13 under its BRICS Chairship. India’s presidency is guided by the theme “Building for Resilience, Innovation, Cooperation and Sustainability”, with a focus on strengthening cooperation and advancing development, innovation and sustainability. (ANI)