Jaishankar Urges BRICS to Deepen Cooperation, Push Reforms

External Affairs Minister S Jaishankar on Thursday called upon BRICS nations to find practical ways to deal with the fallout of ongoing global conflicts, economic volatility, and trade disruptions, even as India advances institutional reforms to accommodate the grouping’s expanded membership.

Opening the two-day BRICS Foreign Ministers’ Meeting here, Jaishankar emphasised that the bloc must play a constructive and stabilising role amid growing uncertainty in international relations. The meeting at Bharat Mandapam brought together foreign ministers from core members including Russia, Brazil, and Iran, along with partner countries.

Time of considerable flux

“We meet at a time of considerable flux in international relations,” Jaishankar said in his opening remarks. “Ongoing conflicts, economic uncertainties, and challenges in trade, technology, and climate are shaping the global landscape.”

He noted that developing nations and emerging markets are increasingly looking to BRICS for stability and workable solutions. The minister stressed the need to reflect on global and regional developments and explore concrete steps to strengthen cooperation.

Institutional reforms under Indian chair

As the current chair, India has prioritised building a more inclusive and effective framework. Jaishankar highlighted progress in discussions on institutional development, including updating mechanisms to better integrate new members.

“It is essential for the smooth advancement of BRICS that later members fully appreciate and subscribe to BRICS’ consensus on various important issues,” he said.

Officials indicated that India’s chairmanship has already facilitated over 80 BRICS meetings involving all member states since January. This is India’s fourth stint at the helm, following previous summits in 2012, 2016, and 2021.

Development challenges in focus

Ministers are expected to address pressing issues affecting many countries, particularly in energy, food, fertiliser, and health security, as well as access to finance. Jaishankar said BRICS can help members respond more effectively to these challenges.

He also underlined the importance of reliable supply chains and diversified markets for building economic resilience in the face of global disruptions.

Climate, tech and equitable growth

Climate change figured prominently in the discussions. The minister called for sustainable development efforts guided by principles of equity and common but differentiated responsibilities.

On technology, Jaishankar pointed to the rapid pace of change and the need to harness innovations for inclusive growth and better governance.

Peace, security and counterterrorism

Peace and security issues remained central to the conversations. Recent conflicts have reinforced the importance of dialogue and diplomacy, Jaishankar noted. There was also strong emphasis on strengthening cooperation against terrorism, an area of shared interest among members.

The presence of Iran’s Foreign Minister Abbas Araqchi and Russia’s Sergey Lavrov added weight to discussions on geopolitical challenges.

Looking ahead

The two-day meeting, scheduled for May 14 and 15, forms part of broader consultations on global economic governance, development priorities, and current geopolitical realities. Outcomes are expected to feed into further BRICS processes under India’s presidency.

Analysts see the gathering as an opportunity for the expanded bloc to demonstrate its relevance in a fragmented world order. With multiple partner countries participating, the focus remains on practical coordination rather than grand declarations.

Local diplomatic circles in New Delhi described the meeting as business-like, with delegations working through detailed agendas on multilateral reform and economic cooperation. Many observers believe successful institutional adjustments will determine how effectively BRICS can deliver on expectations of emerging economies.

As global attention remains fixed on multiple conflict zones and economic headwinds, India’s push for pragmatic cooperation reflects its longstanding approach of seeking inclusive solutions through platforms like BRICS.

India-Brazil Trade Crosses ₹1 Lakh Crore as PM Narendra Modi, Lula da Silva Hold Key Talks in New Delhi

India-Brazil trade has crossed the ₹1 lakh crore mark, marking a major milestone in economic ties between the two emerging powers. The development comes as Brazilian President Luiz Inacio Lula da Silva began his five-day India visit on February 18, 2026, holding high-level bilateral talks with Prime Minister Narendra Modi in New Delhi.

With global alliances shifting and emerging economies strengthening cooperation, the surge in India-Brazil trade signals a deepening partnership between two leading voices of the Global South.

India-Brazil Trade Jumps 92% in Five Years

Official data shows that bilateral trade between India and Brazil rose from ₹53,705 crore in FY21 to ₹1,03,349 crore in FY25 — an impressive 92% increase.

In FY25 alone:

 India’s exports to Brazil increased 15% year-on-year to ₹57,219 crore.

 Imports from Brazil declined 10% YoY to ₹46,130 crore.

 India maintained a positive trade balance with Brazil.

Brazil now accounts for 1.05% of India’s total global trade. While the percentage may appear modest, the consistent upward trajectory reflects strategic economic alignment.

Experts say this positive trade balance strengthens India’s position in Latin America, where Brazil remains the largest economy.

What India Exports to Brazil

India’s export basket to Brazil is diversified and high-value driven. Key exports include:

 Refined petroleum products (diesel)

 Organic chemicals and pharmaceuticals

 Agro-chemicals like insecticides and fungicides

 Engineering goods, boilers and electrical machinery

 Automotive components

 Iron and steel products

Trade analysts note that India’s pharmaceutical and chemical exports have gained strong traction in Brazil due to competitive pricing and quality standards.

What India Imports from Brazil

Brazil plays a crucial role in supplying agricultural and mineral commodities to India. Major imports include:

 Crude oil

 Soy oil

 Raw cane sugar

 Gold

 Cotton

 Iron ore

 Timber

Brazil’s role as a supplier of edible oils and energy inputs remains strategically important for India’s food and energy security.

Strategic Talks Beyond Trade

President Lula is also participating in the India AI Impact Summit, where global tech leaders are discussing artificial intelligence regulations, investments and societal impact.

During bilateral discussions, both sides are expected to expand cooperation in:

 Defence manufacturing

 Renewable energy

 Artificial intelligence

 Global South representation in multilateral forums

An expert in international trade policy noted that India and Brazil are aligning not just economically but geopolitically, especially in platforms like BRICS and G20.

Why India-Brazil Trade Matters Now

The timing of this trade milestone is significant. As global supply chains diversify and nations reduce dependency on traditional Western markets, India and Brazil are positioning themselves as alternative growth engines.

For Indian businesses, Brazil offers access to Latin American markets. For Brazil, India provides scale, technology and pharmaceutical strength.

Practical takeaways for businesses:

 Exporters in chemicals and pharma should explore Brazil-focused strategies.

 Agro-importers can leverage stable sourcing channels from Brazil.

 Investors should track policy announcements emerging from Lula-Modi talks.

The crossing of ₹1 lakh crore in India-Brazil trade underscores a maturing strategic partnership between New Delhi and Brasilia. With Prime Minister Narendra Modi and President Lula da Silva deepening cooperation across trade, technology and global governance, bilateral ties appear set for a new phase of expansion.

As both nations navigate a rapidly changing global order, India-Brazil trade is emerging as a pillar of South-South economic collaboration — one that could reshape global commerce dynamics in the years ahead.