Terror, tariffs and AI: What are the key takeaways from BRICS New Delhi Declaration

The 18th BRICS Summit in New Delhi concluded with the adoption of the New Delhi Declaration, a 140-point document covering various global issues. The declaration emphasized India and Brazil's role in the UN, opposed the Israeli war in Gaza, and endorsed India-led initiatives on financial risk, AI, and big-cat conservation.

One of the key takeaways from the declaration is the strong condemnation of the terror attack in Pahalgam, Kashmir, where 26 people were killed and many others injured. BRICS also showed concern over attacks on civilian infrastructure and peaceful nuclear facilities, stating that such actions violate international law and IAEA resolutions.

The grouping backed India and Brazil's aspirations for a greater role in the UN, including the Security Council, following China and Russia's support. They called for an Israeli ceasefire in Gaza, full and unhindered humanitarian access, and an end to the forced displacement of Palestinians.

BRICS raised concerns over rising unilateral tariff and non-tariff measures, which distort trade and conflict with WTO rules. They also opposed protectionism presented as environmental policy and condemned unilateral economic sanctions and secondary sanctions not authorized by the UN Security Council.

The declaration also addressed carbon border taxes, WTO reform, and local-currency payments. Members showed interest in setting up a BRICS Risk Lab at GIFT City's International Financial Services Centre in Gujarat, and in developing insurance resilience through a voluntary BRICS Insurance Resilience Centre. Additionally, BRICS agreed to continue discussions on strengthening their reinsurance capacity.