BRICS Expanding Clout and Focus on the Global South

BRICS

The BRICS (Brazil, Russia, India, China, South Africa) is an association of five major emerging economies that have gained significant attention in recent years.

This article provides an overview of the BRICS and its ongoing 15th Summit.

It also discusses the recently highligted areas by India, expansion of the group and its focus on the Global South.

Additionally, article evaluates the relevance and cooperation within BRICS while highlighting the challenges faced by this alliance.

Finally, it explores the importance of BRICS for India.

BRICS Overview

BRICS Key Takeaways
CategoryDetails
Introduction
  • Association of 5 major emerging economies – Brazil, Russia, India, China, South Africa
  • Formed in 2009, South Africa joined in 2010
  • Aims to reform global governance for equitable representation
BRICS Expansion
  • Adding new developing economy members
  • Makes BRICS more representative globally
  • Led by Russia, supported by India
  • Potential members: Iran, Bangladesh, African and Latin American nations
Championing the Global South
  • Aligns with India’s G20 presidency goals
  • India pushed for African Union’s inclusion in G20
  • Alternative to western-dominated institutions
  • Leverage in trade, climate and development finance talks
Cooperation Areas
  • Economy: Trade, investment, infrastructure
  • Security: Counter-terrorism, transnational crimes
  • People-to-people: Academia, culture, sports
  • Total trade: $461 billion (2021)
Institutions Created
  • New Development Bank: $30 billion capital
  • Contingency Reserve Arrangement: $100 billion fund
  • Think Tanks Council, Business Council etc.
Challenges
  • Conflicting national agendas
  • China’s economic dominance
  • Diverging interests between India and China
Importance for India
  • Geostrategic balancing between US and Russia-China
  • Shaping global economic architecture
  • Cooperation on terrorism
  • Support for India’s global ambitions like UNSC membership

Introduction to BRICS

The formation of the BRICS grouping in 2009 was a significant development in international relations. It represented a political alliance among Brazil, Russia, India, China, and South Africa, with the goal of advocating for the interests of emerging economies. This alliance emerged from the recognition that these countries shared common goals and challenges in the global arena.

The inclusion of South Africa in 2010 further solidified BRICS as a platform for cooperation and collaboration among major emerging economies. BRICS seeks to enhance market access and forge closer economic ties while promoting mutual trade and investment. Additionally, it aims to reform the global financial architecture and shape a more equitable and inclusive global order.

BRICS operates on principles of full respect for sovereignty, commitment to international law, multilateralism with the United Nations at its core, openness to consensus-based decision-making, and recognition of the multipolar nature of the global order. By advocating for their interests collectively, BRICS member states aim to ensure that emerging and developing countries have a greater say in shaping global policies and institutions.

BRICS
BRICS

BRICS Expansion

An expanded membership in the BRICS grouping can provide a platform for developing countries to champion their interests in global affairs and negotiate on issues such as climate change, trade, and development finance.

The proposal to expand BRICS membership stems from Russia’s desire to create an alternative global order following economic sanctions resulting from its Ukraine invasion.

With around 40 countries expressing interest in joining BRICS, there is a clear frustration among emerging economies in the Global South regarding their underrepresentation in global governance.

The inclusion of potential new members like Iran, Bangladesh, and other developing economies from Africa and Latin America would make BRICS more globally representative.

This expansion aligns with the objectives of giving voice to the Global South in global affairs.

Global South Focus

Championing the interests of developing nations, India has prioritized the Global South agenda during the BRICS Summit. India’s emphasis on the Global South agenda is aligned with its G20 presidency goals and reflects its commitment to addressing the concerns of developing countries.

The country has called for BRICS partners to support its proposal for African Union’s permanent membership in the G20, highlighting its focus on inclusivity and representation.

In addition, India has hosted the Global South Summit, which saw participation from over 125 countries, further demonstrating its dedication to championing Global South issues.

BRICS Relevance

The relevance of BRICS as a global forum has been underscored by recent geopolitical developments and the increasing role of emerging economies in shaping the world order. In light of economic sanctions imposed on Russia following the Ukraine conflict, BRICS has emerged as an alternative platform to challenge the dominance of western-led institutions like the G7.

With its diverse membership representing a significant portion of the world population and global GDP, BRICS enjoys greater legitimacy and advocates for reform in global governance structures such as the UN Security Council and financial institutions.

As leading developing countries, BRICS provides a voice for the Global South in shaping policies related to trade, climate change, and development assistance. The establishment of institutions like the New Development Bank and Contingency Reserve reflects their efforts to provide alternative funding avenues and reform existing multilateral institutions.

Additionally, amid geopolitical flux and global reordering, BRICS serves as an important platform to coordinate macroeconomic policies in order to support global growth driven by emerging economies.

BRICS Cooperation

Cooperation among the member countries of BRICS has been broad and comprehensive, encompassing various sectors such as economics, politics, security, and people-to-people exchanges.

In terms of economic cooperation, agreements have been signed to boost trade, investment, and innovation. Additionally, initiatives like the New Development Bank and Contingency Reserve provide alternative financing avenues.

On the political and security front, BRICS aims to achieve global peace and equitable development by providing a platform for discussions on domestic and regional challenges. The group also advocates for United Nations Security Council reform to better represent developing countries.

People-to-people cooperation is fostered through cultural exchanges in areas like sports, academia, and civil society engagements.

The institutional structure includes annual summits of leaders, sectoral meetings throughout the year, and engagement between governments, state enterprises, and civil society. Recent developments include the establishment of the BRICS Think Tanks Council and proposed initiatives such as an Agriculture Research Platform, Sports Council, BRICS University Ranking system and Media Academy.

Overall, BRICS cooperation covers a wide range of areas including economic growth, global governance reforms, reinforcement securement, cultural linkages, and institution reformation globally.

Challenges Faced by BRICS

While BRICS cooperation has the potential to bring together emerging economies and foster multilateralism, it faces several challenges.

The heterogeneity of the grouping, with countries like Brazil, Russia, India, and China having diverse national interests and agendas, makes consensus-building difficult. Moreover, China’s economic dominance within BRICS can lead to an imbalance in setting the agenda.

Conflicting interests between members further hinder cooperation. For instance, India and China differ in their approaches towards initiatives like Belt and Road or shaping the global order. Additionally, Russia’s prioritization of challenging western hegemony can undermine unity within BRICS.

These challenges highlight the need for striking a balance between member interests and shared objectives such as United Nations Security Council reform. Overcoming these hurdles remains an ongoing task for BRICS countries seeking to enhance their cooperative endeavors.

Importance of BRICS for India

India’s participation in BRICS holds significant implications for its geo-political, economic, and security interests.

Geo-politically, joining BRICS allows India to balance its relations between the US and the Russia-China axis without direct confrontation.

Economically, BRICS provides India with a platform to shape the emerging global order by advocating for reforms in international institutions such as the IMF, World Bank, and WTO to ensure greater equity. Initiatives like the New Development Bank (NDB) and Contingent Reserve Arrangement (CRA) also reduce India’s reliance on Western-dominated financial systems.

In terms of security, cooperation within BRICS enables India to build support for actions against cross-border terrorism and terrorist safe havens. Additionally, being part of BRICS grants India leverage in multilateral negotiations and endorsement for its bids for membership in institutions like the United Nations Security Council (UNSC) and Nuclear Suppliers Group (NSG).

In all, BRICS membership helps secure India’s core national interests while expanding its strategic influence through collaboration on shared goals.

Conclusion

In summary, the BRICS Summit has provided a platform for member countries to address global governance reform, champion Global South issues, and expand representation.

The summit also saw the development of practical initiatives such as the BRICS Space Consortium and Traditional Medicine Repository. These initiatives demonstrate the commitment of BRICS member countries to fostering cooperation in areas that have tangible benefits for their populations.

By focusing on these practical initiatives alongside broader discussions on global governance reform, BRICS is able to balance immediate priorities with long-term goals. This approach strengthens the credibility of the grouping and enhances its potential to influence international discourse on trade, climate action, and development finance.

Moving forward, it is crucial for BRICS to maintain alignment among members’ national interests while working towards a multi-polar and equitable world order.

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