BRICS SUMMIT

  1. BRICS is a group of five countries Brazil, Russia, India, China and South Africa who are major emerging economies, comprising 43% of the world population, having 30% of the world GDP and 17% share in the world trade.
  2. All of them are developing ones and the leaders in their respective continents with India and China trying to outbeat the other for the leadership position in Asia.
  3. The group so far had 8 summits with the recent one was held in Goa in October 2016 under the theme “Building Responsive, Inclusive and Collective Solutions”.
  4. Goa Declaration of BRICS nations condemn terrorism in all its forms and stressed that there can be no justification for such acts.
  5. They feel that its urgent need to reforms of the United Nations, including UN Security Council to increase representation of the developing countries.
  6. BRICS agreed to counter radicalism and block sources of financing international terrorism, dismantling terrorist bases and countering misuse of the Internet including social media.
  7. It also welcomed adoption of 2030 Agenda for Sustainable Development Goals.
  8. The 9th BRICS Summit will be hosted by China in 2017.
  9. Despite all the ambitious goals being planned, the countries have their own share of problems which may check their unity in the long term.
  10. Brazil and Russia loosing Oil revenue due to decline in prices and are facing negative GDP growth rates and Russia has lost a big European market due to Ukraine crisis.
  11. On the other hand, India’s policy is shifting pro-west as agreements like LEMOA has been signed which doesn’t make Russia and China comfortable.
  12. Indo China relations are suffering due to China constant support to Pakistan and China Pakistan Economic Corridor (CPEC) passing through Gilgit Baltistan in J&K,  attacking India’s territorial integrity. 
  13. India-Vietnam relations are also not welcomed by China as China claims most of the south china sea where Vietnamese Exclusive Economic zone(EEZ) lies.
  14. With such conflicting claims between the members, it is the rise of global challenges like Terrorism and climate change which binds them together for fight for a common cause, but for how long, is to be seen.
  15. India has already signalled a shift from SAARC to BIMSTEC, which shows the dynamism of relations between the countries which is based on nation’s interests.
  16. Foreign Policy based on country’s interest is a permanent approach, however changes must occur with time because change is the only thing which is permanent.