Why BRICS Matters and India’s Strategic Role in the Multilateral Grouping

As BRICS embraces new members, India supports expansion cautiously, favoring countries that align with its strategic and economic priorities, such as the UAE. India’s engagement in BRICS, as witnessed during the 2024 Kazan Summit in Russia, reflects its dual focus on expanding influence in both Western-led and Global South platforms.

Over the past two decades, the BRICS bloc has emerged as a key global political force, aiming to counterbalance Western influence in international institutions. The bloc, comprising Brazil, Russia, India, China, and South Africa as core members since 2010, has recently welcomed new members—Egypt, Ethiopia, Saudi Arabia, the UAE, and Iran—signaling its growing influence and ambition.

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With Russia leading the BRICS in 2024, the recent summit has again brought member nations into focus. A key outcome from the summit was India and China’s agreement to resolve border tensions, a development poised to influence business and trade dynamics between the two Asian economic giants. India’s diplomatic strategy, balancing relations with major global players, emphasizes its role as a prominent, multi-aligned economy.

History of the grouping

The first annual BRIC Summit took place in 2009 in Yekaterinburg, with four member countries i.e., Brazil, Russia, India, and China. The aim was to address the perception that Western countries dominate international institutions, leaving the needs of developing nations underserved.

Timeline of BRICS:

• 2001: Goldman Sachs economist Jim O’Neill coined the term “BRIC” in a report highlighting the potential of Brazil, Russia, India, and China to become major economic forces, challenging the dominance of Western economies.
• July 2006: Leaders from Brazil, Russia, India, and China held their first informal meeting on the sidelines of the G8 Outreach Summit in St. Petersburg, Russia, laying the groundwork for future collaboration.
• 2009: The first official BRIC Summit took place in Yekaterinburg, Russia, where the four member countries met to discuss a shared vision to balance Western dominance in international institutions and better represent the interests of developing economies.
• 2010: South Africa was invited to join the group, expanding BRIC to BRICS. This addition marked the formalization of the bloc as a coalition of emerging economies from multiple continents.
• 2023: BRICS held a historic summit where it extended invitations to six additional countries, signaling a new phase of expansion and influence on the global stage.
• 2024: Saudi Arabia, Iran, Ethiopia, the UAE, and Egypt officially joined BRICS, expanding the coalition to ten nations. This addition emphasized BRICS’ evolving role as a significant bloc representing diverse regions and perspectives in the global economic and political landscape.

With a mandate to coordinate economic and diplomatic policies, BRICS has pursued initiatives to establish financial alternatives to the U.S.-led global order. These include promoting economic cooperation, advocating for the reform of global institutions like the UN, and reducing dependency on the U.S. dollar through localized currency trade and the potential creation of a BRICS-wide currency.

Highlights of the 16th BRICS Summit at Kazan 2024

Held from October 22-24, 2024, in Kazan, Russia, the 16th BRICS Summit brought together key leaders, including Russia President Vladimir Putin, Chinese President Xi Jinping, and India’s Prime Minister Narendra Modi. This year’s summit was notable for welcoming new members—Egypt, Ethiopia, Iran, Saudi Arabia, and the UAE.

Key outcomes:

1. Promotion of a multipolar world order: President Putin reportedly emphasized upon the unstoppable progress toward a multipolar world, calling it a “dynamic” shift. His remarks were directed at BRICS leaders from nations like China and India, reflecting the bloc’s commitment to establishing a more balanced global power structure.
2. India-Russia bilateral relations and economic collaboration: During the summit, Prime Minister Modi and President Putin discussed collaborative opportunities in various sectors, from politics and defense to energy and cultural exchanges. Modi also invited Putin to India for the upcoming 23rd India-Russia Annual Summit, highlighting the continued depth of their diplomatic relationship.
3. Increasing the use of local currencies for economic stability: The BRICS leaders collectively committed to expanding the use of local currencies within their transactions, aiming to promote economic stability and reduce dependency on external currencies. The Kazan Declaration, titled “Strengthening Multilateralism for Just Global Development and Security,” affirmed this goal to protect emerging and developing economies from external economic shocks.
4. Stabilizing India-China ties: A key moment at the summit was the bilateral meeting between Prime Minister Modi and President Xi, marking their first formal dialogue in five years. This meeting followed an agreement to resume regular patrolling along the Line of Actual Control (LAC). Modi emphasized the importance of “mutual trust, respect, and sensitivity” as the foundation of India-China relations, indicating a mutual desire to address border issues and maintain stability.
5. Commitment to strengthening multilateralism: The BRICS leaders highlighted the need for multilateral cooperation, urging nations to adhere to the principles of the UN Charter. This aligns with their goal of establishing a fairer international order, addressing challenges such as unilateral sanctions, and promoting sustainable development across member countries.
6. Empowering the global south: The Kazan Declaration focused on amplifying the “Voice of the Global South,” endorsing initiatives like the India-Africa Forum Summit to foster collaboration among developing nations. This reflects BRICS’ dedication to ensuring that emerging economies’ perspectives are represented in global dialogues.
7. Counter-terrorism efforts: The summit addressed cross-border terrorism, supporting India’s Comprehensive Convention on International Terrorism (CCIT). Leaders called for decisive action on listing UN-designated terrorists, underlining BRICS’ collective commitment to combat terrorism effectively.
8. Economic initiatives: To bolster food security, BRICS leaders endorsed the BRICS Grain Exchange, which aims to improve trade in agricultural commodities among member states. This initiative is anticipated to enhance cooperation on food supply issues.
9. Advances in health (digital and traditional medicine): BRICS leaders acknowledged the importance of digital health and traditional medicine in improving public health. These areas were identified as key to enhancing healthcare systems across member countries, particularly through digital health innovations.
10. Support for the BRICS R&D vaccine center: The BRICS R&D Vaccine Center received support as a vital resource for vaccine research and equitable access. This initiative is particularly significant given the global focus on health resilience post-pandemic.
11. Recognition of digital public goods: The summit underscored the role of Digital Public Goods, an area where India has taken the lead. This emphasis on digital cooperation aligns with the bloc’s goals of fostering innovation and sharing technological advancements across member countries.
12. Sovereignty in infrastructure development: For the first time, the BRICS declaration incorporated references to respecting national sovereignty in infrastructure projects. This commitment aims to ensure that development efforts respect the autonomy and integrity of member nations.

India’s position in BRICS

Overview

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India’s engagement in BRICS reflects its dual focus on expanding influence in both Western-led and Global South platforms. The 2024 Kazan Summit, where the BRICS grouping expanded to include Egypt, Ethiopia, Iran, Saudi Arabia, and the UAE, provided India with an opportunity to balance its growing ties with the United States while actively participating in BRICS—a grouping where Russia and China have significant influence. As BRICS embraces new members, India supports expansion cautiously, favoring countries that align with its strategic and economic priorities, such as the UAE.

India’s trade relations with BRICS members

India’s trade dynamics with BRICS nations reveal both growth and challenges. Notably, exports to the UAE and Russia saw substantial increases; however, India’s exports to Brazil, Egypt, and Iran declined. Similarly, imports from BRICS countries rose overall, especially from Russia and China, indicating India’s growing energy and technology dependence on these nations

Source: Department of Commerce, Ministry of Commerce and Industry, GoI

Source: Department of Commerce, Ministry of Commerce and Industry, GoI

India’s backing of these new members reinforces its focus on expanding economic ties with the Middle East and encouraging a multipolar, diversified global representation in BRICS.

The trade figures show India’s strong ties with the UAE, strategic investments in Russia, and cautious interest in other BRICS economies. For imports, Russia and China dominate India’s inflows, with notable growth in imports from Ethiopia as well, highlighting India’s changing sourcing strategies for energy and raw materials.

Source: DPIIT

India’s foreign policy approach within BRICS

BRICS serves as a platform for India to reinforce its multipolar foreign policy strategy, maintaining a leadership position in non-Western alliances while actively engaging in Western forums like the Quad. India’s role within BRICS supports its broader aspirations to be a “global bridge,” leveraging its influence in both Global South and Western arenas. This alignment allows India to practice multi-alignment, promoting strategic autonomy while balancing relations with the United States and occasionally navigating tensions, as seen recently with Canada.

The Kazan Summit also offered India an opportunity to strengthen diplomatic ties with China. The meeting between Modi and Xi Jinping—held after a five-year pause—illustrates India’s intention to stabilize its relationship with China. Discussions around trade and border issues signaled India’s commitment to regional stability and explored avenues for increased cooperation within BRICS, particularly on infrastructure and trade.

Prime Minister Modi also engaged with Iranian officials, emphasizing India’s commitment to global peace and voicing opposition to countries endorsing terrorism, directly addressing concerns about Pakistan.

India’s expanding role through strategic diplomacy

India’s influence within BRICS has gained global recognition, especially as it continues to foster relations with both G7 nations and BRICS members. This dual engagement positions India as a diplomatic bridge across geopolitical spheres, and its efforts to maintain friendly relations with major global powers—including China—highlight its commitment to multipolarity. In BRICS, India embodies this autonomy by supporting the bloc’s goal of providing an alternative to Western-led global governance while advocating for a fair, inclusive world order.

Conclusion

The 2024 BRICS Summit highlights India’s prominent global standing and showcased Prime Minister Modi administration’s commitment to multilateralism. As India continues to expand its global influence through BRICS and other multilateral platforms, its role in shaping a balanced, multi-polar world order is expected to strengthen, enabling it to play a decisive role in global diplomacy and economic governance.

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