New Delhi, May 15: On the second day of the BRICS Summit 2026, India’s External Affairs Minister Dr. S. Jaishankar addressed his counterparts and delegations at Bharat Mandapam. He stated that reform is not a matter of preference but a necessity.
In his opening remarks during the third session, Jaishankar highlighted the ongoing questions about the effectiveness of global governance and the reliability of multilateralism. He noted that today’s world is more interconnected, complex, and multipolar compared to when many existing institutions were established. However, the structures supporting global governance have struggled to adapt to these changes.
He emphasized that discussions on reform are timely and essential. From a decline in trust to decision-making shortcomings, there is significant pressure on the multilateral framework. As BRICS nations, we share the responsibility to promote a global governance architecture that is inclusive, representative, and accountable. Thus, reform is not optional; it is imperative. We must ensure that multilateralism remains effective in addressing today’s challenges.
Jaishankar reiterated India’s long-standing advocacy for reformed multilateralism—one that reflects current realities and meets the expectations of emerging markets and developing countries. As a member of the United Nations, we meet on equal terms. This is not just a principle; it is the foundation of trustworthy multilateralism. He outlined four key points regarding this issue.
Firstly, he stated that reforms in the UN and its subsidiary bodies are still necessary. The UN’s membership has significantly increased, along with its responsibilities. Yet, specific structures, particularly the Security Council, reflect outdated norms. Without meaningful reforms, including increases in both permanent and non-permanent categories, the UN’s influence and credibility will continue to wane. Representation from Asia, Africa, and Latin America is crucial.
Secondly, he noted some progress in genuine negotiations. The intergovernmental negotiation process has improved, allowing various countries and groups to express their views. This has made general discussions more specific. It is now time to move towards text-based negotiations. BRICS has deeply debated this issue, especially at the Johannesburg Summit, where consensus was reflected in our outcome documents. However, much work remains to turn reform into reality.
Thirdly, he pointed out the urgent need for reforms in the international financial system. Today’s economic challenges include vulnerabilities in supply chains, pressures on food and energy security, and inequalities in access to essential resources. Multilateral development banks must be more robust, responsive, and better prepared to mobilize resources on a larger scale. Financing for development and climate-related initiatives should be more accessible and aligned with national priorities.
Lastly, he stressed the need to strengthen and reform the multilateral trading system. Non-market practices, concentrated supply chains, and uncertain access to markets have exposed the global economy to new risks. A rules-based, fair, open, and inclusive trading system, anchored by the WTO, is essential. It must address shortcomings and reflect the concerns of developing countries.
In conclusion, he stated, “The message of our time is clear. Cooperation is essential. Dialogue is necessary. Reform is urgently needed. We must work together not only to manage global challenges but also to create a more democratic, representative, and equitable international order. India is committed to working with all partners to advance a reformed and effective multilateral agenda.”
Arpit Soni has had a passion for journalism since the beginning. Now he has turned this hobby into his profession. Arpit, who is a resident of Udaipur, enjoys editing and writing news related to journalism. He has worked as a Senior Content Producer in several important roles at Bhaskar, Patrika, Pratahkal, Punjab Kesari, and Times. Arpit completed his schooling in Udaipur and Jaipur. He has been working in the media industry for more than 10 years, and his journey is still continuing. ✍️📚
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