Oct 24, 2024
By: Kapil Yadav
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BRICS is an intergovernmental organisation of Brazil, Russia, India, China and South Africa. It is aimed at enhancing cooperation, promoting peace and security among emerging economies.
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The term "BRIC" emerged in 2001; the first summit occurred in 2009. South Africa joined in 2010, expanding BRIC into BRICS.
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BRICS countries cover 30% of the world’s land and 45% of its population, contributing about 35% of global GDP and holding significant foreign reserves.
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India plays a crucial role in BRICS by promoting economic cooperation, advocating for global governance reforms and addressing terrorism. Its participation enhances India's global influence.
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BRICS focuses on enhancing economic cooperation, promoting sustainable development and reforming global governance. Key initiatives include the New Development Bank, trade collaboration and addressing security challenges among member states.
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BRICS has different political systems and interests, aiming for a multipolar world. While there are disagreements and China's strong influence can create challenges, the group supports cooperation among developing countries.
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In January 2024, BRICS expanded to include new members like Iran, Ethiopia, UAE and Egypt, aiming to enhance inclusivity and strengthen economic ties among nations.
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Internal tensions exist among BRICS members, particularly between India and China. Diverse political ideologies can complicate cohesive action within the group.
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BRICS serves as a platform for dialogue on global issues. India's active participation is vital for shaping sustainable development and reforming global governance.
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