BRICS: Jaishankar lists 5 points for 'more equitable global order'
External Affairs Minister Dr. S Jaishankar, who is representing India at the 16th BRICS Summit in Kazan, Russia, stated that, while production and consumption have steadily diversified, many inequities of the past also continue. He highlighted that the benefits of globalization have not been evenly shared, a problem exacerbated by the COVID-19 pandemic and wars affecting the Global South. To reconcile this contradiction, he listed five points to create a more equitable global order.
Jaishankar highlights uneven globalization benefits, advocates BRICS
The first step, according to him, is to strengthen and expand platforms of an independent nature. "By widening the choices in different domains and minimizing undue reliance on those that can be leveraged. This is really where BRICS can make a difference for the Global South," he said. The second is by reforming established institutions and mechanisms, particularly the UN Security Council, in both permanent and non-permanent categories.
Jaishankar advocates for democratization of global economy
He also called for reforms in the multilateral development banks, whose working procedures are just as antiquated as those of the UN. In his third proposal, Jaishankar suggested democratizing the global economy by establishing more production hubs. "The COVID-19 experience is a sharp reminder of the need for more resilient, redundant, and shorter supply chains. For essential needs, every region legitimately aspires to create their own production capabilities," he said.
4th and 5th points
"Fourth, by correcting distortions in global infrastructure that are a legacy from the colonial era. The world urgently needs more connectivity options that enhance logistics and mitigate risks," he said. "And fifth, by sharing experiences and new initiatives. India's...Unified Payments Interface and the Gati Shakti infrastructure, all hold a larger relevance. The International Solar Alliance, the Coalition for Disaster Resilient Infrastructure, the Global Biofuel Alliance, Mission LiFE and the International Big Cat Alliance are similarly initiatives of common interest."
