External Affairs Minister S Jaishankar on Sunday described United Nations as an old company that does not entirely keep up with the market but occupies space. Citing many examples of inactions, he said that UN does not step up on key issues around the world. Jaishankar was speaking at the third Kautilya Economic Conclave, here.

Jaishankar also drew symmetry between companies and countries, giving an example of the UN being an old company, not keeping up with the markets but occupying space for the same. “In a way, the UN is like an old company, not entirely keeping up with the market but occupying the space. When it’s behind times, in this world to have start-ups, and innovations, different people start doing their own things,” said Jaishankar in the conclave.

The External Affairs Minister also highlighted the United Nations’ global function, even though the organisation may function sub-optimally, “it is still the only multilateral game in town,” he said. “So, what you have today, is yes there is an UN at the end of the day, however suboptimal it is in functioning, it is still the only multilateral game in town but when it does not step up on key issues, countries figure out their own ways of doing it,” said Jaishankar.

He also highlighted that when the United Nations is behind, it is time to have start-ups and innovations, the people start to do their own things. Jaishankar highlighted the UN’s goal to mainstream principal players with the market trends, in the situation when they are not, he said that countries like companies start doing their own thing. “Now, they would like to mainstream that into the market and see that the principal players are in-tune with these trends, but when they are not, I think countries, as companies do, start doing their own things,” said the External Affairs Minister.

He also highlighted the organisation’s lack of action during global events such as the COVID-19 pandemic. “Think about what the UN did on COVID. I think the answer is not very much,” he said. The Minister said that countries had to come up with their own initiatives, like COVAX. “I think increasingly you find combinations of countries who come together and say, let’s agree on this and let’s go and do it...the UN will continue, but increasingly there’s a non-UN space,” said Jaishankar.