Strengthened multilateralism essential to address global crises: Jaishankar

Jaishankar underscored the need for a revitalised approach to multilateralism to address the converging crises affecting economies worldwide, particularly in the Global South. Speaking at the P4M Summit, the minister emphasized that traditional international institutions must adapt to contemporary challenges while remaining responsive to the needs of developing nations.

The 4F crisis—encompassing shortages and price volatility in food, fuel, fertiliser and access to finance—has emerged as a critical concern for policymakers across Asia and beyond. Jaishankar's intervention suggests India's commitment to leveraging multilateral platforms to forge collaborative solutions that benefit member economies.

The P4M Summit represents an effort to create alternative or complementary frameworks for dialogue among key nations on pressing global issues. The minister's remarks indicate that India views reformed multilateralism not as a rejection of existing structures, but as their necessary evolution to remain effective and inclusive.

The challenges identified extend beyond immediate commodity concerns to encompass broader questions of financial stability, development equity and climate resilience. By advocating for stronger multilateral cooperation, Jaishankar signalled India's positioning as a bridge between developed and developing economies in addressing shared vulnerabilities.