Why in News :
PM Modi began a 5-nation tour (Ghana, Trinidad and Tobago, Argentina, Brazil, Namibia).
He will attend the BRICS Summit in Brazil and hold bilateral meetings to strengthen Global South cooperation.
Key Highlights
BRICS Role: PM reaffirmed India’s commitment to BRICS as a platform for:
- Peaceful, equitable, just, democratic and balanced multipolar world order.
- Reforming global governance institutions (UNSC, WTO).
Bilateral Focus:
- Ghana:
- Received Companion of the Order of the Star of Ghana.
- Discussions on investment, vaccine production, health, and energy.
- Trinidad & Tobago:
- To be honoured with the Order of the Republic.
- Emphasis on diaspora ties and shared ancestry.
- Namibia:
- Will address Namibian Parliament.
- Focus on South-South cooperation and wildlife conservation (e.g., cheetah project).
- BRICS Summit (Brazil):
- Focus areas: Global South priorities, climate change, trade, technology, financial reforms.
India expected to push for:
- Digital Public Infrastructure (DPI) cooperation.
- Global climate finance commitments.
- Multilateral bank reform.
Analysis :
IR Dimension:
- Enhances India’s strategic ties in Africa and Latin America.
- Deepens South-South cooperation.
- Counters Western-dominated global order.
- World Order Theme (GS1):Push for multipolarity aligns with India’s foreign policy vision of “Vasudhaiva Kutumbakam.”
BRICS
What is BRICS?
A grouping of five major emerging economies: Brazil, Russia, India, China, and South Africa.
Coined as BRIC by Jim O’Neill in 2001; South Africa joined in 2010 → BRICS.
Represents 25% of global GDP and ~40% of global population.
Serves as a counterweight to Western-led groups like G7 and the World Bank.
Agenda and Priorities
- Terrorism, climate change, energy security, WTO reforms.
- Reforms of Bretton Woods institutions and resistance to trade protectionism.
Summit Evolution
- 2006: First meeting on G8 sidelines in Russia.
- 2009: First BRIC Summit in Russia.
- 2010: South Africa added.
- 2014: Fortaleza Declaration – creation of NDB and CRA.
- 2023 (15th Summit): Johannesburg – BRICS+ Outreach; India invited countries to global alliances.
- 2024 (16th Summit): Held in Kazan, Russia – theme: “Strengthening Multilateralism for Just Global Development and Security.”
Structure and Functioning
- Chairmanship rotates alphabetically among members.
- Guided by UN Charter, principles of non-bloc, neutrality, and consensus.
- Annual Action Plans and joint declarations frame cooperation.
Key BRICS Initiatives
New Development Bank (NDB)
- Set up in 2015, HQ: Shanghai.
- Funds infra & sustainable projects in developing countries.
- Members: BRICS + Bangladesh, UAE, Egypt, Uruguay.
- India benefits via funding and tech cooperation.
Contingent Reserve Arrangement (CRA)
- Created for financial stability ($100 bn pool).
- India’s share: $18 bn; China: $41 bn.
| UPSC Relevance : GS2 – International Relations GS1 – World History (Multipolarity) Mains Question “India’s engagement with the Global South reflects a strategic shift in global geopolitics. Discuss in light of the recent BRICS Summit and bilateral visits to Africa and Latin America.” |