BRICS Summit

The BRICS Summit is an annual gathering of the leaders of Brazil, Russia,

India, China, and South Africa. It provides a platform for these major emerging
economies to discuss and coordinate on global and regional issues.

By Sandipan Sarkar
Jasmine Kaur
Sandeep
Kalash
Suraj
Aastha
Introduction to BRICS
What is BRICS?
BRICS is an acronym for an
association of five major
emerging economies: Brazil,
Russia, India, China, and South
Africa.
Economic Powerhouses
Together, the BRICS countries
account for over 40% of the
world's population and nearly
30% of global GDP.
Geopolitical
Influence
BRICS members seek to
reshape the global order and
challenge the dominance of the
Western powers.
Economic Cooperation and Trade
Trade and Investment
The BRICS nations are
major trading partners, with
significant investments and
trade flows between them.
They aim to expand market
access and economic
opportunities.
Shared Economic
Interests
The BRICS economies are
complementary, providing
opportunities for
collaboration in sectors like
manufacturing,
infrastructure, and
technology. They seek to
leverage their collective
strengths.
Cooperation
Initiatives
BRICS members have
established mechanisms like
the New Development Bank
and Contingent Reserve
Arrangement to facilitate
economic integration and
financial stability.
Political Cooperation among BRICS
1 Coordinated Positions
The BRICS nations work to coordinate their positions on major global issues,
leveraging their collective influence on the world stage.

2 Multilateral Partnerships
BRICS has established various multilateral mechanisms to facilitate cooperation,
including the New Development Bank and the Contingent Reserve Arrangement.

3 Geopolitical Alignment
The BRICS countries aim to counterbalance Western dominance and advocate for
a more multipolar world order that reflects their interests.
Cultural and People-to-
People Exchanges
The BRICS nations have fostered deep cultural ties through rich exchanges in
art, music, cuisine, and more. Citizens from these countries regularly gather for
vibrant festivals and events, celebrating their shared heritage and promoting
mutual understanding.

People-to-people interactions, such as student and academic exchanges, have

also strengthened bonds between BRICS citizens, exposing them to diverse
perspectives and catalyzing innovation.
Security and Counterterrorism
Strengthening Intelligence Sharing
BRICS countries collaborate to enhance intelligence sharing and coordinate efforts
against transnational terrorist threats.

Combating Terrorist Financing

BRICS members work together to disrupt terrorist financing networks and
implement robust anti-money laundering measures.

Cyber Security Cooperation

BRICS nations cooperate to bolster cyber security and defend critical infrastructure
against malicious online attacks.
 Digital Transformation and Innovation
BRICS nations are embracing digital transformation
to drive innovation and economic growth. From e-
governance to fintech, the bloc is leveraging
emerging technologies to enhance efficiency and
improve public services.

BRICS countries are also collaborating on digital

infrastructure, cybersecurity, and fostering a vibrant
startup ecosystem to stay competitive in the global
digital landscape.
 BRICS New Development Bank
The BRICS New Development Bank (NDB) was
established in 2015 as an alternative to the World
Bank and International Monetary Fund, with the
goal of financing infrastructure and sustainable
development projects in BRICS and other emerging
economies.

The NDB has an authorized capital of $100 billion

and is headquartered in Shanghai, China. It aims to
provide loans, guarantees, equity participation, and
other financial instruments to support public and
private projects.
 BRICS Contingent Reserve Arrangement

Mutual Support Financial Stability Equitable Distribution

The BRICS Contingent Reserve
Arrangement (CRA) is a
framework for providing
protection against global liquidity
pressures.
The CRA allows the BRICS The CRA aims for an equitable
nations to access emergency contribution and distribution of
funds to mitigate balance of resources among the BRICS
payments pressures. members.
BRICS Expansion and Membership
Expanding Membership Recent Challenges to
Membership Criteria Expansions Expansion

BRICS has expressed Key criteria for In recent years, Expanding BRICS
openness to BRICS membership BRICS has added membership faces
expanding its include being a large new members such as challenges, such as
membership, emerging economy, South Africa, aligning diverse
recognizing the value having a significant cementing its status national interests and
new members could global influence, and as a major ensuring new
bring. Potential supporting the group's geopolitical bloc. The members fully
members are agenda of reforming group is now commit to the group's
evaluated based on global financial exploring further core principles and
economic size, institutions and expansion to enhance agenda.
geopolitical promoting multipolar its global clout.
influence, and world order.
alignment with
BRICS principles.
BRICS Role in Global Governance
As a group of major emerging economies, BRICS seeks to reshape global governance by advocating
for a more multipolar world order. BRICS countries aim to challenge the dominance of traditional
Western powers and institutions, such as the World Bank and IMF, by promoting alternative
frameworks like the New Development Bank.

Influence on Global Institutions BRICS countries have pushed for greater

representation and decision-making power in
global institutions, challenging the existing power
structures.

Promoting Multilateralism BRICS promotes a multipolar, cooperative

approach to global governance, emphasizing
multilateral cooperation and the role of the UN.

Reforming Global Financial Architecture
BRICS has called for reforms to the global
financial system, including the creation of the New
Development Bank and the Contingent Reserve
Arrangement as alternatives to the IMF and World
Bank.
 Sustainable Development and Climate
Change
Climate Change
Collaboration
The BRICS nations are
working together to address the
critical issue of climate change,
aligning their sustainable
development policies and
strategies to mitigate global
warming.
Renewable Energy
Initiatives
BRICS countries are investing
heavily in renewable energy
sources, such as solar, wind,
and hydroelectric power, to
reduce their carbon footprint
and build a more sustainable
future.
Global Environmental
Leadership
As major emerging economies,
the BRICS nations are taking a
leadership role in shaping
international climate change
agreements and driving
sustainable development on a
global scale.
Innovation and Technology
Driving Economic Driving Economic Driving Economic Driving Economic
Growth Growth Growth Growth

The BRICS nations From AI and renewable BRICS countries are

The BRICS New
have become global leveraging advanced
leaders in energy to e-commerce and Development Bank has
fintech, BRICS countries digital infrastructure
technological invested heavily in
innovation, fueling are pioneering to provide more
research and
economic equitable access to
transformative development, enabling
development and
technologies that are education, healthcare,
prosperity across the cross-border
region. reshaping industries and financial services.
collaboration and the
worldwide. sharing of best practices.
Geopolitical Influence and
Challenges
As major emerging economies, the BRICS nations wield significant
geopolitical influence on the world stage. However, they also face complex
challenges in balancing their individual interests and asserting their collective
voice amid global power dynamics.

Regional disputes, ideological differences, and economic rivalries can strain

BRICS unity, requiring adept diplomacy and strategic cooperation to navigate
these geopolitical hurdles.
Challenges and Opportunities for BRICS
Geopolitical Tensions
1
Balancing national interests and collective goals

Economic Disparities
2
Bridging the development gap among members

Governance Reforms
3 Strengthening institutional framework and decision-
making

The BRICS alliance faces geopolitical tensions as members navigate their individual national priorities. Overcoming
economic disparities and uneven development among the countries is another key challenge. Reforming the
governance structure to enhance collective decision-making and institutional strength is crucial for the group's future
success.
Strengthening Cultural Ties

Cultural Exchange Educational Promote Tourism Celebrate

Collaboration Diversity
BRICS nations foster BRICS members work BRICS organize joint
cultural exchange Universities and to facilitate tourism and cultural festivals,
programs, showcasing research institutions travel, allowing their festivals, and events to
their diverse arts, music, across BRICS citizens to experience celebrate their unique
and traditions to collaborate on joint each other's vibrant heritages and promote
strengthen mutual programs, student cultures and landmarks. cross-cultural
understanding. exchanges, and appreciation.
knowledge-sharing
initiatives.
The Way Forward: Priorities and
Initiatives
1 Strengthening Economic
Cooperation
Deepen BRICS trade and investment ties,
promote joint projects, and harmonize
economic policies to create new opportunities
for growth and prosperity.
3 Fostering Innovation and
Technology
Collaborate on cutting-edge research, digital
transformation, and the development of
emerging technologies to drive progress and
competitiveness.
2 Advancing Sustainable
Development
Coordinate efforts to address climate change,
promote renewable energy, and ensure
equitable and inclusive development across
BRICS nations.
4 Reforming Global Governance
Advocate for a more representative and
democratic international system that better
reflects the growing influence of BRICS
countries.
Conclusion and the Way Forward
Enhance Cooperation and Innovate and Adapt
Integration
Strengthen economic, political, and cultural Harness the collective expertise and creativity

ties among BRICS nations to promote shared of BRICS to develop new solutions for

prosperity and global influence. emerging global challenges.

Elevate BRICS' Voice Empower People-to-People

Exchanges
Amplify the collective voice of BRICS on the Facilitate greater cross-cultural understanding
international stage to shape the global agenda and collaboration among the citizens of BRICS
and drive reform of international institutions. nations to deepen the bonds of the bloc.