Syllabus: GS2/IR
Context
- Prime Minister Narendra Modi addressed the BRICS Summit Plenary session on ‘Strengthening Multilateralism, Economic-Financial Affairs, and Artificial Intelligence.
Major Highlights of the BRICS Summit
- The BRICS Leaders’ Declaration, adopted at the summit reflected India’s key concerns, especially on cross-border terrorism and global governance reforms.
- PM Modi said that the majority of the world’s population is not properly represented in key global institutions.
- He called for a greater role for the developing world in international decision-making.
- He also emphasizes the need for making BRICS more effective in an increasingly multipolar world.
- He put forward four key suggestions to enhance cooperation among BRICS nations:
- Improving Systems to Boost Credibility: Highlighted the importance of demand-driven decision-making, long-term financial sustainability, and maintaining a healthy credit rating.
- Collaborative Initiatives: Proposed creating a BRICS Science and Research Repository that can also benefit the countries of the Global South.
- Resilient supply chain: He emphasised the need to secure and make the supply chain resilient, particularly for critical minerals and technology.
- Responsible AI: Stressed the importance of Responsible AI, stating that India believes in artificial intelligence as a tool for enhancing human values and capabilities and is guided by the mantra of ‘AI for All’.
| About BRICS – BRICS is an acronym that refers to a group of five major emerging national economies: Brazil, Russia, India, China, and South Africa. 1. Egypt, Ethiopia, Iran, Indonesia, Saudi Arabia, and the United Arab Emirates have joined BRICS as new full members. – The term was originally coined by economist Jim O’Neill in 2001. – Origin: As a formal grouping, BRIC started after the meeting of the Leaders of Russia, India and China in St. Petersburg on the margins of the G8 Outreach Summit in 2006. 1. The grouping was formalized during the 1st meeting of BRIC Foreign Ministers on the margins of UNGA in New York in 2006. 2. Initially, the grouping was termed BRIC as South Africa was inducted in 2010 and from there on it has been referred to as BRICS. – Summits: The governments of the BRICS states have met annually at formal summits since 2009. – BRICS countries have come together to deliberate on important issues under the three pillars of: 1. political and security, 2. economic and financial and 3. cultural and people-to-people exchanges. – New Development Bank: Formerly referred to as the BRICS Development Bank, is a multilateral development bank established by the BRICS states. 1. The Bank shall support public or private projects through loans, guarantees, equity participation and other financial instruments. |
Increasing Relevance of BRICS
- Platform for Strategic Autonomy: BRICS offers India a non-Western multilateral platform to engage with global powers without aligning exclusively with any bloc.
- Strengthening the Group: With the additions of new countries, it will represent almost half the world’s population, and will include three of the world’s biggest oil producers, Saudi Arabia, the UAE and Iran.
- Focus on Middle East: With the inclusion of Saudi Arabia, Iran, the UAE, and Egypt, there is a Middle East focus, bearing geo-economic, geostrategic, and geopolitical implications.
- Voice for Global Governance: The grouping now represents a larger share of the world’s population and economy.
- This means the group is potentially a powerful voice for reforming global governance structures and can also act as an influential player within these arrangements.
- Additionally, India positions itself as a leading voice of the Global South within BRICS.
- Push for Multilateral Reform: A larger BRICS enhances the push for UNSC reform, where India seeks a permanent seat.
- Counterbalance to China’s Dominance: A broader membership may dilute China’s dominance within BRICS.
- India can build coalitions with new members to promote balanced agendas and prevent unilateralism.
Challenges
- Internal Geopolitical Tensions: India–China border disputes strain bilateral trust.
- Asymmetry in Power and Influence: China’s economic dominance creates imbalance in decision-making.
- Lack of Cohesive Vision: BRICS lacks a unified ideology or strategic coherence beyond broad themes like multilateralism and development.
- Members pursue divergent national interests, limiting collective action.
- Institutional Limitations: BRICS has no permanent secretariat, making coordination ad hoc and dependent on rotating presidencies.
- Limited enforcement mechanisms reduce implementation of summit declarations and commitments.
- Economic Disparities: Members are at different stages of economic development and face unique challenges, it creates difficulty in setting common economic goals or trade policies.
- Impact of External Alliances: India’s engagement with the West and Indo-Pacific frameworks.
- Russia’s increasing dependence on China post-Ukraine conflict.
- These shifts complicate internal unity and raise questions about long-term alignment.
- Expansion-related Challenges: The inclusion of new members adds diversity but also increases coordination complexity and risks diluting the original focus.
Way Ahead
- While BRICS holds significant potential as a voice of the Global South and a platform for multipolarity, it faces serious structural, political, and institutional challenges.
- Overcoming these would require a shared strategic vision, institutional strengthening, and internal diplomacy — especially among key players like India, China, and Russia.
- As the BRICS operates based on consensus-driven decision-making, attaining consensus among 11 countries characterized by diverse economies, geographical locations, and interests proves to be substantially more challenging than doing so among the original five members.
- To ensure the continued effectiveness and consistency of the institution, in the long run, BRICS might opt to focus on easier-to-achieve objectives.
Source: TH
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