India and BRICS: A Partnership for Sustainable and Inclusive Development

Context

The recent BRICS Summit held in Brazil witnessed the adoption of the BRICS Leaders’ Declaration, which reflected many of India’s strategic and diplomatic concerns. With the inclusion of new member nations in 2024 and growing focus on issues like terrorism, UNSC reforms, artificial intelligence, climate finance, and global governance, BRICS continues to position itself as a significant voice of the Global South. This summit is particularly relevant for UPSC as it demonstrates India’s multilateral diplomacy, focus on reform of global institutions, and leadership in sustainable development and digital governance.

Theme of the Summit

• “Strengthening Global South Cooperation for a More Inclusive and Sustainable Governance”

• The theme underscores the collective push by emerging economies to reshape global decision-making and build inclusive international systems

Key Focus Areas of the Summit

• Global governance and institutional reform

• Climate change and sustainable development finance

• Artificial intelligence and digital governance

• Public health and disease elimination

• Counterterrorism cooperation

Major Initiatives and Agreements

• Adoption of the BRICS Leaders’ Framework Declaration on Climate Finance to enhance funding access for sustainable development projects

• Release of the BRICS Leaders’ Statement on Global Governance of Artificial Intelligence

• Launch of the BRICS Partnership for the Elimination of Socially Determined Diseases, focusing on health inequality

• Announcement of a new guarantee fund to promote local currency trade, reduce external borrowing costs, and mitigate currency risks

India’s Concerns Reflected

• Called for zero tolerance towards terrorism

• Rejected double standards in counterterrorism efforts

• Condemned the terror attack in Pahalgam, Jammu and Kashmir

• Emphasised the need for comprehensive reforms in global governance institutions including the UNSC

Highlights from the Declaration

• Pahalgam Attack Condemned: Clear stance against terrorism with a specific reference to the Jammu and Kashmir attack

• Support for Palestine: The Gaza Strip was described as an inseparable part of the Occupied Palestinian Territory

• Violation of International Law: The Israel-U.S. attack on Iran was termed a violation of international law and the UN Charter

• UNSC Reform: Support from Russia and China for India and Brazil’s aspirations to play a larger role in the UN Security Council

BRICS – An Overview

• Members: Brazil, Russia, India, China, and South Africa

• Formation: Established as BRIC in 2006, South Africa joined in 2010

• New Members (2024): Indonesia, Egypt, Ethiopia, Iran, and the UAE

• Objectives:

  • Promote peace, development, and economic cooperation

  • Strengthen the collective voice of the Global South

• Focus Areas:

  • Trade and investment

  • Multilateral reform (UN, IMF, World Bank)

  • Digital economy and AI governance

  • Sustainable development

• Institutions:

  • New Development Bank (NDB) – Also known as the BRICS Bank, finances infrastructure and sustainable projects

• Global Role:

  • Represents over 40 percent of the world’s population

  • Contributes to approximately 25 percent of global GDP

Potential Benefits for India

• The guarantee fund and shift to local currency trade can help reduce borrowing costs and currency risks for Indian exporters and infrastructure developers

• AI governance cooperation under BRICS aligns with India’s push in software, artificial intelligence, and digital services

• The declaration promotes wider global participation, strengthening India’s stand on inclusive global governance

• These developments can attract foreign investment and support the goals of Atmanirbhar Bharat