Strengthening Global South Supply Chains and Multilateralism: Insights from EAM S. Jaishankar
External Affairs Minister S. Jaishankar recently underscored the critical need for the Global South to enhance the resilience and reliability of its supply chains while advocating for robust multilateralism in today's complex global landscape. Speaking at a key international forum, Jaishankar called on nations of the Global South to reduce their dependence on single suppliers and markets, emphasizing the urgency of creating diversified, shorter, and redundant supply chains that can withstand shocks from global disruptions such as the COVID-19 pandemic and ongoing geopolitical conflicts.
Building Resilient and Reliable Supply Chains
Jaishankar highlighted how recent global crises have exposed vulnerabilities in supply chains, especially for developing countries. He urged the Global South to democratize manufacturing and production by encouraging industrial growth across various geographies. This approach, he pointed out, would not only contribute to regional self-sufficiency but also help stabilize trade and livelihoods during turbulent times. He stressed the importance of collaborative efforts to promote sustainable trade practices and cautioned against increasing trade barriers or linking trade measures to unrelated non-trade issues.
Multilateralism at a Crossroads
On multilateralism, Jaishankar expressed concern over the current state of global governance, noting that the multilateral system appears to be struggling to address pressing global challenges effectively. He pointed out that conflicts, economic volatility, climate crises, and the slowdown in progress towards Sustainable Development Goals (SDGs) are testing the resilience of international cooperation. He urged for urgent reforms in multilateral institutions, including the United Nations and its Security Council, to restore their effectiveness and credibility.
Addressing Ongoing Global Challenges
Beyond supply chain and trade issues, Jaishankar reminded the world of the broader impacts of ongoing conflicts on food, energy, and fertilizer security, particularly in the Global South. He called for an early resolution of hostilities through diplomacy to ensure long-lasting peace and stability. He emphasized that partial or selective protectionism is not a sustainable global solution, advocating instead for inclusive, rules-based, transparent, and equitable economic practices.
The Role of BRICS and India’s Perspective
Jaishankar stressed that the BRICS grouping can lead by example in revisiting trade flows among member countries to establish smoother, fairer market access. He revealed that India faces significant trade deficits with some BRICS partners and is actively seeking expedited resolutions. Upholding the principles of open, fair, and non-discriminatory international trade with special provisions for developing nations remains a cornerstone of India's foreign policy.
Conclusion
As global uncertainties continue to challenge economic and political stability, Jaishankar’s call highlights the pressing need for the Global South to fortify its supply chains and for the international community to reinvigorate multilateralism. A cooperative, transparent, and inclusive approach to trade and diplomacy is pivotal in achieving sustainable growth and global peace.