BRICS: What It Means for India and the New Global Order
As the world pivots toward a new geopolitical era, India’s place at the BRICS table becomes more strategic than ever before.
The recently concluded BRICS Summit 2025 in Rio de Janeiro marks more than just another high-level diplomatic event—it represents a shifting axis in global power, one where the voices of emerging economies are no longer peripheral but central. For India, this isn’t just about symbolism. It’s a chance to navigate a multipolar world with clarity, confidence, and collaboration.
From Acronym to Agenda Setter: The BRICS Evolution
It all began as a clever acronym. In 2001, economist Jim O’Neill coined “BRIC” to represent four rapidly growing economies—Brazil, Russia, India, and China—destined to shape the future. By 2006, this economic idea turned into a political platform, and in 2010, South Africa was added to complete the 'S'.
Since then, BRICS has transformed from a loosely aligned group into a full-fledged intergovernmental forum. Today, it accounts for nearly half the global population, around 40% of the world’s GDP, and more than a quarter of global trade. It’s no longer just a platform for emerging economies—it’s a serious player in shaping alternative global governance.
The group’s recent expansion, welcoming Egypt, Ethiopia, Iran, the UAE, and Indonesia, along with 10 new partner countries, signals an ambitious pivot: a broader coalition of the Global South, ready to redefine the rules of the international game.
Brazil’s Leadership and the Global South’s Voice
Under Brazil’s presidency, the 2025 Summit focused on a compelling theme: “Strengthening Global South Cooperation for More Inclusive and Sustainable Governance.” With Brazil also at the helm of the G20 and preparing to host COP30, there’s a clear push for coherence in global advocacy for the Global South.
Key outcomes from the summit included:
-
Global Governance Reform: A renewed push for UN and Bretton Woods reform, with stronger language demanding representation for developing nations.
-
Economic Alternatives: Talks on de-dollarisation, diversified trade, and cross-border financial systems took centre stage.
-
Climate Commitments: The launch of a “BRICS Climate Leadership Agenda” that aligns environmental goals with development needs.
-
AI and Tech Governance: For the first time, AI governance was given serious attention, ensuring Global South interests aren’t sidelined.
-
Security Cooperation: A joint stance on terrorism and regional instability, with India’s concerns notably spotlighted.
India's Role: Balancing Strategy and Sovereignty
India’s involvement in BRICS is an exercise in strategic nuance. On one hand, it’s part of the Quad and maintains strong Western ties. On the other, BRICS offers a platform for asserting its leadership in the Global South, especially as multilateralism comes under strain.
With $399 billion in trade among BRICS countries in 2024, India's economic engagement has grown—but not without its challenges. A $209 billion trade deficit, largely driven by energy and manufactured goods imports, exposes vulnerabilities in India’s trade dynamics within the bloc.
Yet, India isn’t just playing defence. Through the New Development Bank (NDB), it has secured 18 projects worth $6.9 billion, focused on infrastructure, renewable energy, and sustainable cities—an example of BRICS translating into real-world impact.
On security, India scored a diplomatic win. The summit condemned the Pahalgam terror attack (April 2025), showcasing BRICS’ increasing alignment with India’s long-standing counter-terrorism agenda.
Not Without Complications
With expansion comes complexity. BRICS now includes a diverse mix of political ideologies, economic models, and regional rivalries. The India-China tensions, historical and ongoing, remain a quiet undercurrent. Divergent views on de-dollarisation and foreign policy make consensus difficult—especially on sensitive global issues.
India’s approach is pragmatic: supportive of alternatives to Western systems, but not at the cost of its own strategic interests. Its economic ties with the West, deep tech collaborations, and independent foreign policy ensure it doesn’t lean too far in any one direction.
Trade, Tech and the Future
The summit’s emphasis on bilateral trade, alternative payment systems, and digital innovation hints at a future where BRICS may shape new trade corridors and tech alliances. For India, this could mean:
-
Greater market access within member countries
-
Opportunities to export digital platforms like UPI and blockchain systems
-
Collaborative governance on emerging technologies like AI and data regulation
It’s not just about catching up—it’s about setting the pace for what comes next.
What This Means for Young Indians
Why should any of this matter to a young Indian engineer, student, policymaker, or entrepreneur? Because BRICS is not some distant geopolitical club—it’s a framework that might define:
-
The markets you work in
-
The standards you develop technologies under
-
The rules that govern trade, climate, and even the internet
As global institutions transform, platforms like BRICS will increasingly influence hiring patterns, cross-border partnerships, and innovation funding. Understanding its dynamics is not just smart—it’s essential for thriving in tomorrow’s global economy.
The Road Ahead
BRICS may not be perfect. Its consensus-driven model can be slow. Its ambitions often outpace implementation. But it remains one of the few forums where India has an equal seat at the table—without having to fit into Western frameworks or alliances.
For India, BRICS is not about choosing sides. It’s about shaping the middle ground—bridging North and South, East and West. And as new challenges—from AI to climate to energy—demand more inclusive governance, India’s voice within BRICS becomes more vital than ever.
In a world in flux, BRICS represents more than just emerging economies—it represents emerging ideas. And India is right in the middle of that transformation.
No comments:
Post a Comment