Beyond bloc politics: BRICS bet on multipolarity
The 18th BRICS Summit serves as India's platform, marking the 20th year of BRICS cooperation and its fourth chairmanship. Comprising 11 members representing nearly half of the world's population, BRICS offers India an expanded space to pursue its foreign policy objectives. Prime Minister Narendra Modi emphasizes a people-centric approach and global humanism, advocating for multipolarity rather than rigid bloc politics.
India's chairmanship aims to promote resilience, innovation, cooperation, and sustainability, focusing on practical outcomes for citizens.
Key initiatives include a BRICS Network on Digital Agriculture, a Centres of Excellence on Agro-Ecology, and a BRICS Incubator Network for startups. These platforms facilitate technology transfer, innovation, and access to finance for startups and MSMEs. The New Development Bank's 2022-26 strategy aims to direct 40% of financing to climate mitigation and adaptation, with the BRICS Multilateral Guarantees initiative piloting climate-resilience financing.
India's chairmanship seeks to enhance global governance, counter-terrorism, and reform initiatives, while maintaining strong partnerships outside BRICS. The success of India's leadership will be measured by the tangible benefits these initiatives bring to ordinary people.
Written by urgent.news from The Economic Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
