External Affairs Minister S. Jaishankar has called for greater economic self-reliance among BRICS nations, arguing that stronger domestic capabilities, resilient supply chains and deeper cooperation can improve both economic activity and security across the grouping.
Speaking at the BRICS Business Forum in New Delhi on Friday, Jaishankar said the bloc needs to strengthen its ability to withstand global disruptions while remaining connected to international markets. He also stressed the importance of predictable business conditions, diversified trade relationships and closer cooperation in technology and innovation.
Self-Reliance as a Growth Strategy
Jaishankar's remarks come as India hosts the 18th BRICS Summit in New Delhi on September 12 and 13.
The minister linked self-reliance with economic resilience rather than isolation. For BRICS economies, building stronger domestic production capabilities and reducing excessive dependence on vulnerable external supply chains could help businesses manage disruptions while sustaining economic activity.
The approach also reflects the wider debate over how emerging economies can protect strategic sectors while continuing to benefit from global trade.
Resilient Supply Chains Key to BRICS Growth
Jaishankar highlighted resilient supply chains as an important part of the bloc's economic agenda.
Global trade has faced repeated disruptions in recent years, including geopolitical tensions, shipping challenges and changes in international trade policies. Against this backdrop, BRICS countries are looking to diversify sources of supply and strengthen links among their own economies.
A more resilient network could help member countries absorb external shocks without completely cutting themselves off from global markets.
Predictable Business Environment Needed
The External Affairs Minister also emphasised the need for a more predictable business environment across BRICS.
Greater certainty in trade and investment rules can make it easier for companies to plan long-term investments and build cross-border partnerships. Jaishankar's comments placed private-sector participation at the centre of efforts to deepen economic integration within the grouping.
For businesses, stronger economic cooperation would depend not only on political agreements but also on practical improvements in trade procedures, payments, logistics and market access.
Technology and Startups Gain Focus
Innovation and startups are another area where India wants greater cooperation among BRICS economies.
Jaishankar highlighted opportunities for collaboration in startups and innovation, suggesting that emerging technologies and entrepreneurial ecosystems could become important drivers of future economic growth.
Closer links between startups, investors, technology companies and research institutions could help BRICS countries share expertise while developing their own capabilities in strategically important sectors.
Diversifying Trade Relationships
Jaishankar also stressed the importance of diversified trade relationships.
For BRICS economies, diversification can reduce the risks created when countries or businesses become overly dependent on a limited number of suppliers or markets. Stronger intra-BRICS trade could therefore complement, rather than replace, broader global economic engagement.
The objective is to build an economic system that is more capable of absorbing shocks while remaining competitive and interconnected.
India Pushes Practical Economic Cooperation
India's economic agenda for BRICS has increasingly focused on practical cooperation, including trade facilitation, digital connectivity, supply-chain resilience and greater use of national capabilities.
The remarks by Jaishankar also complement Commerce and Industry Minister Piyush Goyal's call for BRICS nations to improve payment-system connectivity and expand trade using local currencies.
Together, the proposals underline India's effort to make BRICS economic cooperation more commercially useful for businesses rather than limiting it to broad political declarations.
BRICS Seeks Greater Economic Resilience
The discussions come at a time when BRICS is seeking a larger role in the global economic system.
Jaishankar's message was that greater self-reliance should translate into stronger productive capacity, economic activity and security while preserving the advantages of international connectivity.
For the expanded BRICS grouping, the challenge will be converting these broad objectives into practical mechanisms that can reduce trade friction, strengthen supply chains and encourage investment across member economies.
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