
08/07/2025
A Piece of opinion authored by me, titled “ BRICS Summit 2025: Quest for Evolving Global Order despite diversity and conflict of interest,” was published on July 8, 2025, in the Daily Guardian on page 8.
The 17th BRICS Summit is scheduled to take place in Rio de Janeiro, Brazil, from July 6 to 7, 2025, with Brazil's President Luiz Inácio Lula da Silva serving as the rotating chair. The summit will be attended by BRICS nations, including Brazil, Russia, India, China, and South Africa, as well as recently admitted countries like Indonesia, Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates. Partner countries, including Belarus, Bolivia, Indonesia, Kazakhstan, Thailand, Cuba, Uganda, Malaysia, and Uzbekistan, will also participate.
The summit will occur against the backdrop of ongoing geopolitical turmoil, including regional conflicts between Russia and Ukraine, in the Middle East, and the recent escalation of the joint conflict between Iran and Israel. Additionally, there is tension between the USA and Iran over the nuclear facility in Iran and a proxy war supported by Iran against Israel. The outbreak between India and Pakistan stemming from the terrorist attack in Pahalgam, Kashmir, is also going to be figured in the BRICS summit. The global economy is also experiencing an unprecedented trade war over tariffs between the US and BRICS countries, driven by the aggressive trade policies of the newly elected US President Trump, who has imposed heavy tariffs on other nations. The US also strongly opposes the idea of a BRICS currency as a global alternative to the dollar-based international financial and trade system.
BRICS is an intergovernmental organization composed of ten countries. Relations among BRICS members are based on the UN Charter, widely accepted principles, and norms of international law, including openness, pragmatism, solidarity, non-bloc stance, and neutrality toward third parties.
Nearly half of the world's population resides in BRICS countries, which collectively comprise more than 25% of the Earth’s land area and 36% of global GDP. The development index indicates that over 30% of the world's petroleum, 45% of agricultural products, 40% of global internet users, and 30% of digital payments come from BRICS nations. BRICS also has a strong space presence, with over 1,250 satellites in orbit.
BRICS operates based on action plans approved at annual summits since 2010. The organization’s strength is built on the pillars of Political and Security Cooperation, cultural and People-to-People Contacts, and economic and Financial Cooperation.
The most important aspect of financial cooperation is the Contingent Reserve Arrangement (CRA), established under the auspices of the New Development Bank (NDB) in 2015, with a total lending capacity of $100 billion. This arrangement originated from an agreement signed in Fortaleza, Brazil, in 2014. The CRA is designed to support and finance member countries facing global liquidity constraints and market fluctuations. Brazil, Russia, and India each contributed $18 billion and have access to $18 billion in funds, along with 18% of voting rights. China, on the other hand, contributed $41 billion, can access $21 billion, and holds the maximum voting rights of 39.95%.
The theme for the BRICS Summit 2025 is ‘Strengthening Global South Cooperation for More Inclusive and Sustainable Governance.’ The summit will focus on establishing effective mechanisms to promote and enhance GlobalHealth Cooperation, Trade, Investment, and Finance; tackling climate change; advancing artificial intelligence governance; developing a multilateral peace and security framework; and supporting institutional development. BRICS countries may reach a mutual agreement in principle to enhance cooperation, streamline multinational infrastructure projects through prudent investment and partnerships, and reshape geopolitics and supply chains.
All BRICS countries, except Russia and China, will be represented by their respective heads of state. Prime Minister Narendra Modi will represent India. Meanwhile, Foreign Minister Sergei Lavrov will lead the Russian delegation, and Premier Li Qiang will represent China. Russian President Putin will attend key sessions via video conferencing. However, the absence of Chinese President Xi Jinping will be felt, as Xi Jinping is one of the most influential leaders in BRICS and plays a vital role in decision-making.
Mega summits like BRICS provide an excellent opportunity for participating countries to hold bilateral meetings among heads of state on the sidelines of the summit. Such interactions are of immense value and considered a highly effective diplomatic tool. India has a crucial and pivotal role in the BRICS. India's growing stature, marked by its widely accepted, mature diplomatic leadership under the PM, as well as its increasing strategic, military, and financial influence, growing market, dominance in Cyber, IT, and space, has indeed made it impossible for anyone to ignore India’s opinion and troubleshooting capability. PM Modi will exercise this option to foster a mutually beneficial relationship, especially with the Chinese, Russian, and Brazilian counterparts.
Under India's initiative, the BRICS summit is likely to strongly condemn the terror attack by the Pakistan-sponsored terrorist on innocent tourists in Pahalgam.
India is likely to pursue reforms in global governance, peace, security, renewable energy, economics, and finance. It will also support the development of a fair platform for South-South cooperation in areas such as trade, investment, and technology transfer. India is poised to lead efforts in promoting the responsible use of artificial intelligence, ensuring food safety, enhancing global health, providing affordable education for all, empowering women, and advancing climate and environmental initiatives. UPI, India's digital payment system, might be adopted by BRICS countries as a practical option for large-scale and mass transactions and as a step toward broader digital currency goals. Despite this positive outlook, India needs to develop a long-term strategy to manage its relations with China and increase cooperation on economic, strategic, and infrastructure issues. This will help align with the evolving global order, which could be China-centric or West-centric.
Another challenge BRICS faces is clearly defining its roadmap for the BRICS Currency and De-Dollarization. Actions taken by US President Trump, along with China's interest in promoting its currency as a global alternative to the Dollar and the Western-dominated financial system, remain significant obstacles. However, BRICS countries may move forward by promoting their currencies during bilateral trade among members as an initial step toward a unified banking and fiscal system.
China and Russia have played key roles in the BRICS since its inception in 2001. The primary objective of BRICS was to serve as a steady counterbalance to NATO and US-led strategic and financial groups, while also emphasizing its independence from NATO’s military alliance. Other BRICS countries, such as India, Brazil, Iran, and South Africa, have worked to develop BRICS as an effective and alternative platform for Southeastern countries around the world. Countries such as India, Brazil, South Africa, and Saudi Arabia are set to make significant contributions to the global stage, including at the UN, as permanent members of the UN Security Council.
However, the significant diversity among BRICS nations and conflicts of interest on geopolitical, military, trade, and other issues—such as the proximity of some BRICS countries to the Western bloc—will remain the biggest obstacle. Despite these unavoidable challenges, the BRICS nations have the potential to lead the Global South together. Hence, the Rio de Janeiro summit is poised to address the current global issues and provide a landmark direction for the international peace process.