Brazil BRICS Summit

Brazil is hosting the 17th BRICS Summit in 2025, marking the first major summit of the newly expanded 11-member BRICS bloc, with a focus on Global South cooperation and inclusive governance reform.

About BRICS

• Type of Grouping:
  • BRICS is an intergovernmental informal grouping of emerging economies aimed at fostering cooperation in political, economic, and developmental spheres.
• Founding Members:
  • OriginallyBRIC: Brazil, Russia, India, China
  • South Africa joined in 2010, making it BRICS.
• Recent Expansion (2024):
  • New Members: Iran, UAE, Egypt, Ethiopia
  • Saudi Arabia: Invited but yet to formalize its membership.
  • Argentina: Was expected to join but withdrew decision to join in 2024.
  • Total Members as of 2025: 10 confirmed; pending confirmation for Saudi Arabia.
• First Summit: Held in Yekaterinburg, Russia (2009).

Significance of BRICS

• Demographic and Economic Weight:
  • Represents approximately 46% of the world’s population.
  • Accounts for 35% of global GDP (prior to inclusion of Indonesia).
• Geopolitical Counterbalance:
  • Seen as a counterweight to the G7 and other Western-led groupings.
  • Challenges Western dominance in global economic and financial institutions.
• Promoter of Multipolarity:
  • Advocates for a multipolar world order rooted in sovereign equality, non-interference, and developmental equity.

Present Priorities and Long-Term Vision

• De-Dollarisation and Financial Sovereignty:
  • Proposes reducing dependency on the US Dollar in international transactions.
  • Aims to strengthen local currencies, establish BRICS Pay, and promote bilateral and multilateral non-dollar settlements.
• Global Institutional Reforms:
  • Seeks reforms in Bretton Woods Institutions like the IMF and World Bank.
  • Demands restructuring of the UN Security Council to reflect current geopolitical realities.
• Inclusivity and Development:
  • Emphasis on inclusive development, particularly in the Global South.
  • Promotes sustainable development, technological cooperation, and healthcare resilience.
• Strategic Autonomy:
  • Advocates for strategic autonomy of member states in global decision-making forums.
  • Encourages South-South cooperation and joint economic initiatives.

17th BRICS Summit:

• The official theme is: “Strengthening Global South Cooperation for More Inclusive and Sustainable Governance”.
• Brazil’s presidency has identified six core areas of cooperation:
  • Global health cooperation
  • Trade, investment, and finance
  • Climate change
  • Artificial Intelligence (AI) governance
  • Peace and security architecture
  • Institutional development

Significance for India:

• As a founding BRICS member, India plays a key role in influencing agenda-setting, especially in areas like AI governance, multilateralism, and sustainable development.
• India’s strategic participation aligns with its broader Act East, Energy Security, and South-South Cooperation strategies.