Significance of the 2024 BRICS Summit in Kazan, Russia

Source: The post significance of the 2024 BRICS Summit in Kazan, Russia has been created, based on the article “The BRICS journey — gaining heft while in transition” Published in “The Hindu” on 9th November 2024

UPSC Syllabus Topic: GS Paper2- Bilateral, regional and global groupings and agreements involving India and/or affecting India’s interests.

Context: The article discusses the BRICS summit in 2024, highlighting Russia’s leadership, its expansion, and the focus on economic, security, and cultural cooperation. It emphasizes India’s role in BRICS, supporting multipolarity and bridging differences between global powers, with a growing influence of the group.

For detailed information on BRICS Plus Grouping- Significance and Challenges read this article here

What Was the Focus of the 2024 BRICS Summit in Kazan, Russia?

1. The 2024 BRICS summit in Kazan highlighted the group’s survival and rejuvenation despite global challenges like COVID-19, geopolitical tensions, and economic sanctions.
   2. Russia chaired the summit, which saw discussions on reforming the United Nations, enhancing economic cooperation, and addressing global conflicts.
   3. The summit also addressed the use of local currencies for trade among member countries.

How has BRICS evolved over time?

1. Formation and Initial Growth: BRICS began in 2009 with Brazil, Russia, India, and China. South Africa joined in 2011, forming the current grouping.
2. First Decade’s Accomplishments: In its first decade, BRICS achieved notable progress in fostering political, economic, and cultural cooperation.
3. Challenges in the Second Decade: BRICS faced major challenges:
4. The COVID-19 pandemic put China on the defensive.
5. The India-China border clash in Galwan Valley (June 2020) strained relations.
6. Russia’s Ukraine invasion (2022) led to a confrontation with NATO.
7. Expansion and Growth:
8. The 2023 summit welcomed five new members: Saudi Arabia, UAE, Iran, Egypt, and Ethiopia.
9. At the 2024 Kazan summit, 13 countries, as ‘partner states. Countries are, Latin America: Cuba and Bolivia; Eurasia: Belarus and Türkiye; Africa: Algeria, Nigeria, and Uganda; Southeast Asia: Indonesia, Malaysia, Thailand, and Vietnam; and Central Asia: Kazakhstan and Uzbekistan.

What are the key verticals of BRICS?

1. Political and Security Cooperation
2. Focuses on global peace, security, and conflict resolution.
3. The 2024 Kazan summit emphasized the conflict in West Asia, condemning Israel’s actions but omitted the October 7 Hamas attack.
4. Called for an immediate ceasefire, release of hostages, and recognition of Palestine.
5. On Ukraine, BRICS reiterated national positions, urging dialogue and addressing “root causes” of the conflict.
6. Economic and Financial Cooperation
7. Encourages the use of local currencies in trade among BRICS members.
8. Discussed further development of the New Development Bank as a “new type of MDB.”
9. Expansion of Saudi Arabia into BRICS raised hopes for a capital boost, but these remain unfulfilled.
10. Cultural and People-to-People Cooperation
11. Aims to strengthen social and economic development through exchanges in sports, culture, and civil society.
12. Cooperation with think tanks, businesses, and parliaments may have long-term benefits.

What role does BRICS play for India?

1. BRICS helps India promote multipolarity and maintain strategic autonomy.
2. It strengthens India-Russia ties and supports Global South interests.
3. At the summit, PM Modi and President Xi Jinping agreed on border disengagement, signaling improved India-China relations.
4. As China-India relations improve, the strategic space for India to deal with its western partners may also expand.
5. India uses BRICS to act as a bridge between the east, west, north, and south, enhancing its geopolitical influence.

Question for practice:

Discuss the significance of the 2024 BRICS Summit in Kazan, Russia, in addressing global challenges and enhancing cooperation among member countries.