The BRICS journey — gaining heft while in Transition

The BRICS summit held in Kazan, Russia (October 22-24, 2024) marked a critical point in the group’s evolution, highlighting its continued survival and growth amidst geopolitical challenges, including the Russia-Ukraine war and China-India relations. The summit reflected BRICS' transition from emerging economies to a broader platform representing the Global South, signaling its rejuvenation despite past struggles and internal differences.

BRICS Expansion and Geopolitical Dynamics

• Expansion of BRICS: The Kazan summit emphasized the group’s expansion with five new members joining in 2023, and 34 nations seeking membership, signaling a shift towards inclusivity and enhanced global influence.
• Global South Representation: BRICS, while not seeking a new world order, advocates for reforms in global governance to better represent emerging economies, focusing on the inclusion of countries from Africa, Asia, and Latin America in the UN Security Council.
• Moderation and Unity: While BRICS shows anti-Western tendencies, moderate members like India, Brazil, and South Africa remain committed to preserving its non-Western orientation and promoting multilateral cooperation.

Key Areas of Cooperation and Focus

• Peace and Security: The summit focused on conflicts in West Asia, calling for a ceasefire and the establishment of a Palestinian state, but was criticized for not addressing the terrorist attack by Hamas, reflecting internal differences.
• Economic and Financial Cooperation: While the summit emphasized the use of local currencies and financial cooperation, expectations for a massive capital boost to the New Development Bank were tempered by Saudi Arabia’s hesitance.
• Cultural and People-to-People Cooperation: Initiatives to strengthen social and economic development through sports, culture, and civil society were discussed, aiming for long-term collaboration beyond immediate political and economic goals.

India's Role in BRICS and Future Prospects

• India’s Strategic Interests: BRICS helps India maintain its strategic autonomy, promote multipolarity, and advocate for the interests of the Global South, alongside deepening ties with Russia and China.
• Improvement in China-India Relations: A key outcome of the summit was the first meeting between Indian Prime Minister Narendra Modi and Chinese President Xi Jinping in five years, signaling a potential thaw in bilateral relations.
• India’s Vision for BRICS: India has shifted from cautious to a more strategic approach on BRICS expansion, recognizing that increased membership could amplify the group’s global influence, positioning India as a bridge between the East and West.

Practice Question:

Q. BRICS has evolved from a grouping of emerging economies to a platform representing the Global South, despite facing internal divisions and external geopolitical challenges. Discuss the key achievements and challenges faced by BRICS, with a focus on its role in reforming global governance and India’s strategic interests within the grouping.