BRICS is not challenging the existing world order. It is seeking a place in the sun for developing countries. It is looking at alternative approaches but there is no desire to seek confrontation with the West.
Now that NAM is defunct and very little wealth is left in the Commonwealth, and given that the G-20 has a set parameter and doesn’t encompass the aggregate of the hopes and aspirations of the developing world, India should use the BRICS forum to project its global profile.
If the BRICS Development Bank comes up, it will not only be a big moment for BRICS itself, but also for the global financial structure where the role, stake and space of the developing world will grow massively.
With economic growth and the political centre of gravity continuing to shift, BRICS already have a major role in dealing with transnational challenges, with power sharing institutionalised in the international architecture through the G20.
While their growing economic clout has brought Brazil, Russia, India, China and South Africa together, translating the hand holding gestures at the end of each summit into real unity is likely to remain a daunting task.
The real challenges for the New Delhi summit are issues that are linked not only with the future of BRICS but also with the conduct and approach of its members towards each other.
This Brief outlines the practical and ideational role that BRICS can play as a grouping, in reforming the global financial system and in the norm-setting processes in world politics. The Brief also discusses some challenges BRICS countries are facing to realise their goals in the short to medium term.
The Iranian nuclear stand-off is still a major issue in global politics. From international players like the European Union, the United States and the United Nations, to individual states, almost each country has its own stake in the issue. However, the recent deal brokered by Turkey and Brazil has not only changed the nature of the issue, but also the discussion itself. The deal has changed the nature because the one-sided dialogue between the international community and Iran is no longer relevant.
While the Turkey deal represents an advance on the Iran nuclear issue, it remains to be seen if it would lead to more constructive solutions in addressing concerns generated by the Iranian nuclear programme.
