Bhubaneswar: The 18th BRICS Summit, being held under India’s presidency in New Delhi, is significant not only for India but for the global economy and geopolitical system, foreign affairs expert Professor Manas Behera said.
He described the grouping as an emerging platform for a multipolar world order.
Behera said the summit assumes greater importance amid ongoing geopolitical tensions, including the Russia-Ukraine conflict and Israeli-American attacks on Iran, which have disrupted global energy supply chains and pushed up prices of petroleum, gas and other energy products.
“Under India’s presidency, the 18th BRICS Summit is extremely important not only for India or its bilateral relations, but for the entire world,” Behera said.
He noted that BRICS, which began in 2009 with five countries, has expanded significantly and now comprises 11 full members and 10 partner countries. According to him, the grouping represents around 40 per cent of global GDP and 49 per cent of the world’s population.
The expert said the summit’s theme of resilience, innovation and sustainable economy reflects India’s effort to convey that several major global challenges can be addressed through peace, dialogue and negotiations.
He identified the creation of a roadmap towards a multipolar world as one of the biggest challenges before BRICS. Behera argued that the existing US-led unipolar order is facing growing challenges and the world is moving towards a more multipolar system, in which BRICS can play an important role.
Another major issue, he said, is reducing dependence on the US dollar in international trade. BRICS countries have been discussing greater use of their national currencies for bilateral trade.
“This is certainly a challenge to the dominance of the dollar, but this summit is not about completely eliminating the dollar,” he said, describing the process as “a new beginning” that would require a long journey.
Behera also highlighted climate change, artificial intelligence, terrorism, world peace and global security as key issues on the BRICS agenda.
He said the presence of leaders from Russia, Iran, China and other countries has provided India with an opportunity to strengthen bilateral engagement with individual BRICS members.
On India-Russia ties, Behera said relations were moving to a new level, with the two countries targeting bilateral trade of $100 billion by 2030. He said discussions could cover cooperation in defence, including S-400 and S-500 systems, upgrades to BrahMos missiles and advanced fighter aircraft, besides expanding cooperation in steel, railways, space, agriculture and fertilisers.
He also pointed to India’s engagement with Iran, saying New Delhi was seeking to convey that it remained a longstanding and close friend of Tehran. According to Behera, there is scope for expanding bilateral trade despite US sanctions.
On India-Russia energy ties, he said New Delhi would continue to expand energy cooperation despite pressure from the US, as Russia remains an important source of India’s energy imports.
Behera also described the India-China engagement at the summit as significant. While the two countries continue to face challenges relating to the border and trade, he said the participation of senior Chinese officials alongside President Xi Jinping indicated a willingness to engage.
He noted that senior members of the Chinese Communist Party’s Politburo, along with the foreign and trade ministers, were in India for discussions, creating possibilities for expanding India-China trade.
“BRICS is emerging as a multipolar platform and is challenging the dominance of the US-led economic order,” Behera said.
(IANS)
