New Delhi: Prime Minister Narendra Modi is all set to attend the 16th BRICS Summit, scheduled on October 22-23 in Kazan, Russia. Seen as more than just a diplomatic gathering, it marks a pivotal moment in the global landscape, where the West’s influence is being challenged and a new, multipolar world order is emerging. At the heart of this transformation stands India, a key player in the BRICS alliance, making this summit a significant event for the nation.
Distribution of power
India, with its strong commitment to BRICS, is advocating for a multipolar world where international issues are not controlled solely by Western powers. The nation sees BRICS as a platform to amplify the voice of the global South, championing the interests of developing countries and promoting equitable trade and economic development.
The summit comes at a critical time when the global order is shifting. The US dollar’s dominance in international trade is being questioned, with BRICS members pushing for greater use of their own currencies. The idea of a common BRICS currency is also under discussion, though no concrete decision has been reached yet.
West can’t impose its policies
Its main objective is to increase mutual economic cooperation in developing countries, so that developed countries, especially Western countries, can not impose their policies on them. Due to this, the purpose of this group is also to maintain coordination between developing and developed countries. At the same time, political relations with each other, and protecting each other’s culture are also included in it. Simply put, it aims to challenge the global order dominated by Western countries, including the US. Although BRICS is not against any country, it is seen as a powerful platform to raise the voices of developing countries.
Is BRICS strong enough to challenge the WEST?
The strength of BRICS can be gauged from the fact that today its member countries account for 44 percent of the world’s total oil production. With the addition of the five new members, the total population of BRICS member countries has reached 3.5 billion. It is 45 per cent of the total population of the world. The combined economy of all member countries together is more than 28.5 trillion dollars, which is 28 per cent of the global economy.
According to the report by the Observer Research Foundation (ORF), the BRICS goal is to develop open, transparent, non-discriminatory and rule-based multi-dimensional trading systems. They want to shore up the US dollar in international trade. Therefore, all countries are insisting on using their own currency for trade with each other. A common currency of BRICS has also been discussed, but no concrete decision has been taken so far.
Why is India’s presence at BRICS crucial?
India’s presence at this summit is crucial as the nation seeks to assert its position as a leading voice on the world stage. The country actively participates in international forums and organizations, aiming to strengthen its global presence and influence.
In the BRICS Foreign Ministers meeting last year, Indian Foreign Minister S. Jaishankar also gave a clear message that the world is now multipolar and should no longer be seen in the old light. Anyway, the ORF article states that India has always been strengthening its presence on the global stage through many forums. BRICS is also a platform for India, through which it is becoming the voice of the global South.
Talking about this time, during the BRICS summit, the countries of the world will be the most watched India. The US and Europe have imposed restrictions on Russia due to the Russia-Ukraine war. India’s friendship with Russia is not hidden from anyone. There is also tension in China and America, while Russia and China are very close. In such a situation, America and Europe want India also oppose Russia. Therefore, the eyes of the world will be fixed on India in the BRICS summit this time. At the same time, through Russia, India can also raise its issues in front of China. If China refrains from bullying, then both countries can benefit greatly from the BRICS summit.
Why was BRICS established?
BRICS, an acronym for Brazil, Russia, India, China, and South Africa, was established in 2009 as a platform for fast-growing economies to challenge the dominance of Western institutions and policies. The group’s expansion last year, with the addition of Egypt, Iran, Ethiopia, and the United Arab Emirates, solidified its global reach and influence.
