New Delhi, July 25 : The international legal system must evolve into a more democratic, inclusive and balanced framework that reflects the aspirations of developing nations, External Affairs Minister S. Jaishankar said on Friday while calling for reforms in global trade laws to address the realities of a rapidly changing world.
Speaking at an event commemorating the 60th anniversary of the United Nations Commission on International Trade Law (UNCITRAL) in New Delhi, Jaishankar stressed that international legal institutions can no longer operate in isolation from major geopolitical, economic and technological transformations shaping the global landscape.
He said the world is experiencing a period of unprecedented uncertainty driven by geopolitical tensions, supply chain disruptions, technological advancements and shifting economic dynamics. These developments, he noted, have significantly altered the movement of goods, services, investments and digital data across borders, creating new challenges for governments and businesses alike.
According to Jaishankar, no nation can effectively tackle these evolving risks independently. He underlined the importance of strengthening international legal cooperation to ensure greater certainty and stability in global commerce.
The minister observed that countries are increasingly looking beyond infrastructure development and physical connectivity. They now seek dependable legal systems that provide predictability, transparency and consistency in international business transactions.
He emphasized that harmonized legal frameworks are essential to facilitate seamless cross-border trade, enforce commercial contracts efficiently and ensure smooth movement of investments and digital commerce across regions.
Highlighting the role of UNCITRAL, Jaishankar said the commission has played a significant part in promoting internationally accepted legal standards that simplify commercial relations and improve confidence among global trading partners.
He noted that effective dispute-resolution mechanisms and uniform commercial laws help businesses operate with greater confidence, even during periods of global uncertainty. Such legal certainty, he said, strengthens international trade by reducing risks associated with cross-border transactions.
Calling attention to the growing economic influence of emerging markets, Jaishankar argued that the future global legal order should better reflect contemporary economic realities rather than historical power structures.
“As the economic centre of gravity continues to shift, international legal architecture must become more democratic, inclusive and responsive to the concerns of the Global South,” he said.
The minister added that developing nations require an international legal framework that supports equitable participation in global trade instead of reinforcing existing inequalities between advanced and emerging economies.
He expressed confidence that UNCITRAL can play a pivotal role in narrowing the legal and commercial gap between developed and developing countries by promoting fair and harmonized trade regulations.
Jaishankar also highlighted India’s growing role in the global economy, describing the country as one of the world’s fastest-growing major economies with expanding manufacturing capabilities, digital innovation and increasing international trade engagement.
He said the government’s vision of Viksit Bharat 2047 is centered on building a resilient economy driven by technological advancement, industrial growth and stronger integration with global markets.
To achieve these long-term objectives, India requires predictable legal systems that encourage international investment, facilitate trade and support commercial partnerships across borders, he added.
The External Affairs Minister further observed that a stable international legal environment not only boosts investor confidence but also enables businesses to expand globally while reducing regulatory uncertainties.
His remarks come at a time when global institutions are facing increasing calls for reform from developing nations seeking greater representation in international decision-making processes. Many countries in the Global South have argued that existing governance structures must adapt to reflect changing economic realities and provide equal opportunities for all nations.
Jaishankar reiterated that international law should serve as an instrument of cooperation and shared prosperity rather than becoming a barrier to growth. He stressed that modern legal systems must be flexible enough to address emerging issues related to digital trade, technology, cross-border investments and evolving commercial practices.
Concluding his address, Jaishankar emphasized that an inclusive, rules-based and democratic international legal framework would strengthen global trade, improve economic resilience and create a more balanced global economic order that benefits both developed and developing nations.