Global South must boost supply chain, promote South-South trade: Jaishankar

At a Global South countries' meet in New York, EAM S Jaishankar called for resilient supply chains, fair trade, and stronger South-South cooperation amid global conflicts and trade uncertainties

External Affairs Minister (EAM) S Jaishankar on Tuesday urged Global South nations to reduce reliance on single suppliers and markets by strengthening supply chains and promoting 'South-South' economic ties.

 

Speaking at the High Level Meeting of Like-Minded Global South Countries in New York, Jaishankar said, “We meet in increasingly uncertain times, when the state of the world is a cause for mounting concern for member states. The Global South in particular, is confronted with a set of challenges that have heightened in the first half of this decade”. He pointed to the combined impact of the pandemic, conflicts in Ukraine and Gaza, extreme climate events, volatile trade, shifting investment flows and the slowdown in progress on the Sustainable Development Goals.

 

“The rights and expectations of developing countries in the international system… are today under challenge,” he said, adding that while nations often turn to multilateralism for solutions, “the very concept of multilateralism is under attack,” with international organisations facing resource and credibility constraints.

 

 

To tackle these challenges, Jaishankar called for “fair and transparent economic practices that democratise production and enhance economic security,” more balanced trade and technology collaboration, and “resilient, reliable and shorter supply chains that would reduce dependence on any single supplier or any single market.”

He also underlined the need for conflict resolution to safeguard food, fertiliser and energy security, collaborative use of technology for development, including digital public infrastructure, and a level playing field that reflects the developmental priorities of the Global South.

 

 

The minister further proposed that Global South nations should work on strengthening consultations through existing forums, sharing specific experiences and achievements in various fields, and advancing climate action initiatives “that serve the Global South rather than justify the Global North.”

 

Jaishankar is presently in the US to attend the 80th session of the United Nations General Assembly (UNGA). His call for greater cooperation among Global South nations comes as Indian exports face the impact of the United States’ (US) 50 per cent tariffs. Since the duty was imposed, the Centre has been working to diversify export markets.