Key Points

As per the statement by the Embassy, "Cooperation between member countries in trade and economy, finance, investment, and other areas amid the current global economic landscape was on the agenda".

External Affairs Minister S Jaishankar represented PM Modi at the virtual summit.

He underscored in a post on X that India's message was that BRICS should work towards stabilising the international economy, address the impact of ongoing conflicts on the Global South & proactively support reforming multilateralism.

https://x.com/DrSJaishankar/status/1965056588353327187

EAM Jaishankar in his speech highlighted how the world as a collective is seeking a stable and predictable environment for trade and investment.

"At the same time, it is imperative that economic practices are fair, transparent and to everyone's benefit. When there are multiple disruptions, our objective should be to proof it against such shocks. That means creating more resilient, reliable, redundant and shorter supply chains. Not just that, it is also essential that we democratise manufacturing and production and encourage their growth in different geographies. Progress in that regard will contribute to regional self-sufficiency and relieve anxieties at times of uncertainty", he said.

Brazil's President shared the details of the virtual BRICS meeting in a post on X.

https://x.com/LulaOficial/status/1965179783483998211

He highlighted that the virtual summit saw discussions on the need to advance towards a more "just, balanced, and inclusive international order, one capable of responding more effectively to the demands of the Global South".

The BRICS members reaffirmed their commitment towards preserving and strengthening multilateralism and reforming international institutions, he noted in his post.

"We will remain committed to actively contributing to peace and to building collective solutions for global challenges", the Brazilian President wrote on X.

- ANI