BRICS Parliamentary Forum

Context

India has assumed the chairmanship of the 12th BRICS Parliamentary Forum, following the conclusion of the 11th forum in Brasilia, Brazil. The member nations unanimously condemned the recent terrorist attack in Pahalgam and agreed on a zero-tolerance policy toward terrorism. The forum emphasized enhanced cooperation on counter-terrorism, technology, trade, and global peace.

BRICS Parliamentary Forum:

It is a platform for parliamentary dialogue among BRICS nations: Brazil, Russia, India, China, and South Africa, now expanded to include Iran, UAE, Egypt, Ethiopia, and Indonesia.
The forum facilitates discussions on cooperation in areas like security, economic development, and technology.

India’s Chairmanship:

India will chair the 12th BRICS Parliamentary Forum scheduled in 2026.
This position reflects India's growing diplomatic role and leadership in multilateral forums.

Counter-Terrorism Consensus:

The forum’s declaration strongly condemns terrorism, highlighting the Pahalgam attack.
Calls for enhanced intelligence sharing, financial crackdown on terror groups, and curbing misuse of emerging technologies.
Reflects India’s proactive approach in global anti-terrorism diplomacy.

BRICS

Genesis and Evolution

The acronym "BRIC" was coined in 2001 by British economist Jim O’Neill for Brazil, Russia, India, and China.
Formal grouping began in 2006 during the G8 Outreach Summit.
First BRIC Summit held in Russia in 2009.
South Africa joined in 2010, making it BRICS.

Member Countries

Core BRICS members: Brazil, Russia, India, China, South Africa.
Expanded BRICS+ members: Egypt, Ethiopia, Iran, Saudi Arabia, UAE.
Represents about 45% of the world population and 37.3% of global GDP.

Three Pillars of Cooperation

Political and Security Cooperation: coordinated global political/security efforts.
Economic and Financial Cooperation: boosting growth and building alternative financial systems.
Cultural and People-to-People Cooperation: fostering cultural exchanges and mutual understanding.

Reasons for Collaboration

Large landmass and population with shared socio-economic challenges.
Aim to harness untapped economic potential via collaboration.
Building alternative global economic infrastructure, reducing dependence on Western systems.
Serving as gateways to respective regional markets.

Key Initiatives

Financial:
- New Development Bank (NDB): funds infrastructure & sustainable projects; equal voting rights.
- Contingent Reserve Arrangement (CRA): short-term financial support mechanism.
- BRICS Pay: blockchain-based cross-border payment system alternative to SWIFT.
- BRICS Grain Exchange: agricultural commodity trading platform.
- BRICS Clear Depositary: cross-border payment settlement system.
- Voice to Global South:
- BRICS Plus Dialogue: includes emerging/developing countries globally.
- BRICS Partner Countries category with 13 nations including Cuba, Turkey, Vietnam.

Security:
- BRICS Rapid Information Security Channel for cyber threat intelligence sharing.
- Call for adoption of Comprehensive Convention on International Terrorism (2022 summit).
Science & Technology:

- Remote Sensing Satellite Constellation for space cooperation.
- Science, Technology and Innovation Framework Programme (2015) for collaborative research.
- Support for BRICS R&D Vaccine Center and Early Warning Systems for disease prevention.
Geopolitical Significance

- Reduces reliance on Western-led global financial institutions (IMF, World Bank).
- Advocates for multipolarity and strengthens Global South’s international voice.
- Enhances collective global influence through cooperation in finance, security, tech, and culture.