BRICS expansion draws interest from over 30 nations amid shifting global dynamics
With over 30 countries vying for BRICS membership, the upcoming summit in New Delhi could reshape the landscape of global power dynamics and signify a bold leap towards greater unity among emerging economies.
Over 30 nations are reportedly vying for full membership in the BRICS, underscoring the strategic bloc's growing influence on global affairs. The decision on whether to expand the current 11-member group will be made at the upcoming 18th BRICS Summit, to be held in India's capital, New Delhi, under President Narendra Modi's leadership.
India currently holds the presidency, replacing Brazil in 2026. Interest in joining BRICS surged after the summit in South Africa in August 2023, with more than 20 countries expressing intent. This interest is driven by the evolving international order and the need for emerging economies to find their voice in global affairs. Countries such as Turkey, Cuba, Venezuela and Azerbaijan have formally applied to join the bloc.
Joining BRICS is seen as a way for nations to diversify trade, finance and infrastructure options, free from Western influence and geopolitical pressures. The New Development Bank, or BRICS Bank, offers alternative funding options for member countries, bypassing the stringent controls of institutions like the World Bank and the IMF.
The shift in global relations, with the Global South gaining momentum, has made BRICS a key player in reshaping the world order.
Written by urgent.news from IOL's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
