S. Jaishankar told delegates that the collapse of global supply chains and surging energy prices have tightened fiscal space for governments worldwide. He cited a 12% rise in oil prices last quarter and a 7% jump in fertilizer costs, pushing inflation past 8% in several emerging economies.
The minister framed the situation as a 4F crisis—fuel, food, fertiliser and finance—arguing that each shock amplifies the others.
European Union officials, including foreign policy chief Josep Borrell, welcomed the appeal, noting that the EU must align its trade and aid policies with India’s push for deeper cooperation.
Jaishankar announced the creation of a joint working group on supply‑chain resilience, slated to meet on 25 September, to draft a framework for risk de‑risking and diversification.
A Kenyan farmer, Amara Ndolo, shared how erratic rainfall and rising input prices have forced her family to sell livestock, illustrating the human cost of the 4F crisis.
The summit’s closing session on 29 September will feature a high‑level panel on multilateralism, where leaders are expected to sign a joint declaration.