JOHANNESBURG: The upcoming 15th BRICS summit, scheduled from August 22 to 24, is anticipated to be a game-changer. Prime Minister Narendra Modi is set to represent India at this crucial summit hosted by South African President Cyril Ramaphosa. Interestingly, this marks the first in-person BRICS gathering since 2019. Notably absent will be Russian President Vladimir Putin, who has chosen not to attend.
BRICS, an alliance of five significant developing countries, holds considerable global influence, boasting 41% of the world’s population under its banner and commanding sizable chunks of the global GDP and trade.
Post-summit, PM Modi has a diplomatic visit lined up to Greece where comprehensive bilateral talks with Prime Minister Kyriakos Mitsotakis are on the agenda. This visit is especially significant, being the first by an Indian Prime Minister since Indira Gandhi in 1983.
A focal point this year is the potential expansion of the BRICS coalition. As per insider reports, approximately 23 nations have expressed interest in joining this influential bloc. While discussions about member inclusion methods continue, Foreign Secretary Kwatra mentioned India’s positive outlook on this topic during a recent briefing.
On the financial front, the possibility of a unified BRICS currency has been floated, but Kwatra emphasized several prerequisites for such a venture, hinting that most dialogues revolve around national currency-based trade.
In conclusion, the forthcoming BRICS summit promises strategic discussions that could reshape global economic and political dynamics.
