{"id":47175,"date":"2025-07-07T20:06:58","date_gmt":"2025-07-07T14:36:58","guid":{"rendered":"https:\/\/www.nextias.com\/ca\/?p=47175"},"modified":"2025-07-09T19:49:43","modified_gmt":"2025-07-09T14:19:43","slug":"17-brazil-brics-summit","status":"publish","type":"post","link":"https:\/\/www.nextias.com\/ca\/current-affairs\/07-07-2025\/17-brazil-brics-summit","title":{"rendered":"17th BRICS Summit in Brazil"},"content":{"rendered":"\n<p><strong>Syllabus: GS2\/IR<\/strong><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Context<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Prime Minister Narendra Modi addressed the <strong>BRICS Summit Plenary session on \u2018Strengthening Multilateralism, Economic-Financial Affairs, and Artificial Intelligence.<\/strong><\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Major Highlights of the BRICS Summit<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>The BRICS Leaders\u2019 Declaration, <\/strong>adopted at the summit reflected India\u2019s key concerns, especially on cross-border terrorism and global governance reforms.<\/li>\n\n\n\n<li>PM Modi said that the <strong>majority of the world\u2019s population is not properly represented in key global institutions.<\/strong>\n<ul class=\"wp-block-list\">\n<li>He called for a<strong> greater role for the developing world in international decision-making.\u00a0<\/strong><\/li>\n\n\n\n<li>He also emphasizes the<strong> need for making BRICS more effective in an increasingly multipolar world.<\/strong><\/li>\n<\/ul>\n<\/li>\n\n\n\n<li>He put forward<strong> four key suggestions<\/strong> to <strong>enhance cooperation among BRICS nations:<\/strong>\n<ul class=\"wp-block-list\">\n<li><strong>Improving Systems to Boost Credibility: <\/strong>Highlighted the importance of demand-driven decision-making, long-term financial sustainability, and maintaining a healthy credit rating.<\/li>\n\n\n\n<li><strong>Collaborative Initiatives:<\/strong> Proposed creating a BRICS Science and Research Repository that can also benefit the countries of the Global South.<\/li>\n\n\n\n<li><strong>Resilient supply chain: <\/strong>He emphasised the need to secure and make the supply chain resilient, particularly for critical minerals and technology.\u00a0<\/li>\n\n\n\n<li><strong>Responsible AI: <\/strong>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 \u2018AI for All\u2019.\u00a0<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-background\" style=\"background-color:#fff2cc\"><tbody><tr><td><strong>About BRICS<\/strong><br>&#8211; <strong>BRICS <\/strong>is an acronym that refers to a group of <strong>five major emerging<\/strong> <strong>national economies:<\/strong> <strong>Brazil, Russia, India, China, and South Africa.\u00a0<\/strong><br>1. <strong>Egypt, Ethiopia, Iran, Indonesia, Saudi Arabia, and the United Arab Emirates <\/strong>have joined BRICS as new full members<strong>.<\/strong><br>&#8211; The term was originally coined by economist <strong>Jim O&#8217;Neill in 2001.<\/strong><br>&#8211; <strong>Origin:<\/strong> 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 <strong>G8 Outreach Summit in 2006.\u00a0<\/strong><br>1. The grouping was formalized during the 1st meeting of BRIC Foreign Ministers on the margins of <strong>UNGA in New York in 2006.\u00a0<\/strong><br>2. Initially, the grouping was termed BRIC as <strong>South Africa was inducted in 2010 <\/strong>and from there on it has been referred to as <strong>BRICS<\/strong>.<br>&#8211; <strong>Summits:<\/strong> The governments of the BRICS states have met annually at formal summits <strong>since 2009.<\/strong><br>&#8211; BRICS countries have come together to deliberate on important issues under the<strong> three pillars of:<\/strong><br>1. political and security,\u00a0<br>2. economic and financial and\u00a0<br>3. cultural and people-to-people exchanges.<br>&#8211; <strong>New Development Bank:<\/strong> Formerly referred to as the BRICS Development Bank, is a multilateral development bank established by the BRICS states.\u00a0<br>1. The Bank shall support public or private projects through loans, guarantees, equity participation and other financial instruments.<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Increasing Relevance of BRICS<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Platform for Strategic Autonomy: <\/strong>BRICS offers India a non-Western multilateral platform to engage with global powers without aligning exclusively with any bloc.<\/li>\n\n\n\n<li><strong>Strengthening the Group: <\/strong>With the additions of new countries, it will represent almost half the world\u2019s population, and will include three of the world\u2019s biggest oil producers, Saudi Arabia, the UAE and Iran.<\/li>\n\n\n\n<li><strong>Focus on Middle East:<\/strong> With the inclusion of Saudi Arabia, Iran, the UAE, and Egypt, there is a Middle East focus, bearing geo-economic, geostrategic, and geopolitical implications.<\/li>\n\n\n\n<li><strong>Voice for Global Governan<\/strong><strong>ce:<\/strong> The grouping now represents a larger share of the world\u2019s population and economy.\n<ul class=\"wp-block-list\">\n<li>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.<\/li>\n\n\n\n<li>Additionally, India positions itself as a leading voice of the Global South within BRICS.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>Push for Multilateral Reform: <\/strong>A larger BRICS enhances the push for UNSC reform, where India seeks a permanent seat.<\/li>\n\n\n\n<li><strong>Counterbalance to China\u2019s Dominance: <\/strong>A broader membership may dilute China\u2019s dominance within BRICS.\n<ul class=\"wp-block-list\">\n<li>India can build coalitions with new members to promote balanced agendas and prevent unilateralism.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Challenges<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Internal Geopolitical Tensions: <\/strong>India\u2013China border disputes strain bilateral trust.<\/li>\n\n\n\n<li><strong>Asymmetry in Power and Influence: <\/strong>China\u2019s economic dominance creates imbalance in decision-making.<\/li>\n\n\n\n<li><strong>Lack of Cohesive Vision: <\/strong>BRICS lacks a unified ideology or strategic coherence beyond broad themes like multilateralism and development.\n<ul class=\"wp-block-list\">\n<li>Members pursue divergent national interests, limiting collective action.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>Institutional Limitations: <\/strong>BRICS has no permanent secretariat, making coordination ad hoc and dependent on rotating presidencies.\n<ul class=\"wp-block-list\">\n<li>Limited enforcement mechanisms reduce implementation of summit declarations and commitments.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>Economic Disparities:<\/strong> Members are at different stages of economic development and face unique challenges, it creates difficulty in setting common economic goals or trade policies.<\/li>\n\n\n\n<li><strong>Impact of External Alliances:<\/strong> India\u2019s engagement with the West and Indo-Pacific frameworks.\n<ul class=\"wp-block-list\">\n<li>Russia\u2019s increasing dependence on China post-Ukraine conflict.<\/li>\n\n\n\n<li>These shifts complicate internal unity and raise questions about long-term alignment.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>Expansion-related Challenges: <\/strong>The inclusion of new members adds diversity but also increases coordination complexity and risks diluting the original focus.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Way Ahead<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>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.\n<ul class=\"wp-block-list\">\n<li>Overcoming these would require<strong> a shared strategic vision, institutional strengthening, and internal diplomacy <\/strong>\u2014 especially among<strong> key players like India, China, and Russia.<\/strong><\/li>\n<\/ul>\n<\/li>\n\n\n\n<li>As the BRICS operates based on<strong> consensus-driven decision-making,<\/strong> attaining consensus among 11 countries characterized by diverse economies, geographical locations, and interests proves to be<strong> substantially more challenging than doing so among the original five members.\u00a0<\/strong><\/li>\n\n\n\n<li>To ensure the continued effectiveness and consistency of the institution, in the long run, BRICS might opt to focus on easier-to-achieve objectives.<\/li>\n<\/ul>\n\n\n\n<p><strong>Source: <\/strong><a href=\"https:\/\/www.thehindu.com\/news\/national\/pm-modi-brazil-brics-summit-live-updates-july-6-2025\/article69779831.ece\" rel=\"nofollow noopener\" target=\"_blank\"><strong>TH<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<h3><strong>Context<\/strong><\/h3>\n<li class=\"ms-5\">Prime Minister Narendra Modi addressed the BRICS Summit Plenary session on \u2018Strengthening Multilateralism, Economic-Financial Affairs, and Artificial Intelligence.<\/li>\n<p><\/p>\n<h3><strong>Major Highlights of the BRICS Summit<\/strong><\/h3>\n<li class=\"ms-5\">The BRICS Leaders\u2019 Declaration, adopted at the summit reflected India\u2019s key concerns, especially on cross-border terrorism and global governance reforms.<\/li>\n<li class=\"ms-5\">PM Modi said that the majority of the world\u2019s population is not properly represented in key global institutions.<\/li>\n<li class=\"ms-5\">He called for a greater role for the developing world in international decision-making.\u00a0<\/li>\n<li class=\"ms-5\">He also emphasizes the need for making BRICS more effective in an increasingly multipolar world.<\/li>\n<p><a href=\"https:\/\/www.nextias.com\/ca\/current-affairs\/07-07-2025\/17-brazil-brics-summit\" class=\"btn btn-primary btn-sm float-end\">Read\u00a0More<\/a><\/p>\n","protected":false},"author":15,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-47175","post","type-post","status-publish","format-standard","hentry","category-current-affairs"],"acf":[],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts\/47175","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/users\/15"}],"replies":[{"embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/comments?post=47175"}],"version-history":[{"count":2,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts\/47175\/revisions"}],"predecessor-version":[{"id":47202,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts\/47175\/revisions\/47202"}],"wp:attachment":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/media?parent=47175"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/categories?post=47175"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/tags?post=47175"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}