BRICS Summit 2023: Why Is This International Event Crucial For India?

BRICS Summit 2023 is being held in Johannesburg, South Africa this year and Narendra Modi, the Prime Minister of India has left for the three-day summit. What is the significance of this summit and why is it crucial for our country, know here.

New Delhi: BRICS, an acronym used for a group of five nations- Brazil, Russia, India, China and South Africa, is an intergovernmental organisation based on the spirit of equality, mutual understanding, trust and respect. The 15th Summit is being held in Johannesburg, South Africa; it is being anticipated that in this global meeting, important discussions around major economic and political aspects will take place and the summit will mark a big moment in international diplomacy. Read further to understand the significance of the summit and why the BRICS Summit 2023 is crucial for India.

Significance Of BRICS Summit 2023

The leaders of the BRICS Nations convene in South Africa for the 15th BRICS Summit where along with critical geopolitical concerns, economic cooperation and the constantly increasing multilateral trade and development will also be discussed. The countries will be discussing global trade, investment and economic growth in general, as the nations of this intergovernmental organisation comprise of almost one third of the world’s GDP and in world trade, these countries have about 17% share.

Apart from world trade and global economic growth, another potential key area of discussion is world security. The unilateral withdrawal of the United States, from the INF (Intermediate-Range Nuclear Forces) Treaty is a point of concern, Iran violating a key provision of the nuclear agreement it reached with the Permanent Members of the United Nations Security Council threatens global peace and security and the aftermath of the Russian invasion of Ukraine also holds great importance.

Why Is BRICS Summit 2023 Crucial For India

For India also, the BRICS Summit 2023 holds great importance and is very significant. India and China have been at war for a long time, especially after the military face-off between the two countries that began in 2020, with respect to the Line of Actual Control (LAC). After that military stand-off, Indian PM Narendra Modi and China President Xi Jinping will engage directly and this can be a big opportunity for establishing peace between both nations.

It has been very difficult for India to maintain a neutral stand between the complex equation of the United States and the Russia-China relations. BRICS is a crucial platform for India to balance the Russia-China axis and clear its stance, in the best way possible. India will also be able to openly discuss the problem of terrorism and have important discussions and deliberations with the BRICS nations.

The upcoming G20 Summit is being hosted by India this year and this is also an important aspect of why our country must be at the BRICS Summit. Collaboration and meaningful dialogue on major global issues with all the BRICS members will help India in having better discussions at the G20 Summit also.

A lot of talks have been going on regarding expansion of the BRICS community and this summit, which is being attended by the world leaders in person, for the first time after the pandemic, will also bring up this issue and important discussions around the same will be held.

Major Topics Of Discussion At BRICS Summit 2022

The 14th BRICS Summit was held in Beijing, China in the year 2022. The Chinese President warned against the growing military partnerships and the Indian Prime Minister focused on the significance of the BRICS group in the post-Covid global economic recovery. The major topics of discussion in the summit were:

1. Russia-Ukraine Crisis

The BRICS Nations encouraged communication between the two nations at war and said that they support the UN and ICRC’s efforts to deliver humanitarian aid, keeping in mind the fundamental ideals of neutrality, impartiality and humanism; China, South Africa and India also refrained from casting a vote on a UN Resolution that denounced the invasion of Ukraine by Russia.

2. Economic Recovery Post Covid19

The member nations acknowledged the economic downfall experienced by the various countries because of the pandemic and advocated coordinated policymaking for economic recovery in this post-covid era. The nations stressed on the continued implementation of the BRICS Economic Partnrship Stratey 2025 and were on the same page when discussing to revive global economy.

The Indian PM also discussed the expanding membership and structural improvements of the New Development Bank (NDB), who in March 2022, announced that it put new transactions with Russia on hold and also quickly cut ties with Russia.

3. World Peace

The President of China strongly condemned and criticised the Cold War mentality and power politics of the nations and urged all the members to put into action, China’s Global Security Initiative. China also warned the nations of growing military ties and the countries’ way of prioritising their own security at the cost of other nations’ security.

It was also discussed that terrorism should not be linked to any faith or ethnic group and the Comprehensive Convention on International Terrorism was finalised and adopted urgently, in accordance with the framework of the United Nations.

Discussions about denying a safe haven to corruption, combating transnational drug trafficking and framework for Consumer protection in e-commerce also took place in the last BRICS Summit.