BRICS Summit 2026: S. Jaishankar flags global economic churn, calls for resilient trade and stronger business ties

External Affairs Minister S. Jaishankar on Friday said the global political and economic order was undergoing significant change, with volatility, uncertainty and complexity increasingly shaping the global economic landscape, as India prepares to host the 18th BRICS Summit.

Speaking at the opening ceremony of the BRICS Business Forum 2026, Jaishankar said geopolitical conflicts, pandemics and climate-related disruptions were having economic consequences, while rapid digitalisation and technological advances were opening new avenues for growth and productivity.

"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 digitalisation and technological advances are opening new possibilities for growth, productivity and development. 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 added.

Resilience key to BRICS economic strategy

Jaishankar said resilience had become central to national economic strategies amid the changing geopolitical environment, stressing the importance of deeper cooperation and stronger partnerships.

"Resilience therefore has become central to any nation’s economic strategy while fostering and promoting sustainability. All through deeper cooperation and stronger partnerships. It is here that BRICS brings particular relevance," he said.

He said India's BRICS chairship had sought to advance the priorities of "resilience, innovation, cooperation and sustainability", describing them as particularly relevant to the circumstances facing member countries.

Focus on trade and supply networks

Highlighting the role of businesses in strengthening economic cooperation, Jaishankar said BRICS should make it easier for companies across member countries to find partners, access markets and connect 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.

"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," he added.

Jaishankar also called for "genuine market practices, dependable logistics, a predictable business environment, diversified commercial relationships, and transparent trade and investment".

The 18th BRICS Summit will be held in New Delhi on September 12-13, with discussions expected to cover trade, investment, digital economy, finance, energy security, resilient supply chains and deeper economic cooperation.