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Table of Content

Posted 01 Feb 2024

Updated 16 Mar 2024

2 min read

  • BRICS is a group comprising of Brazil, Russia, India, China, and South Africa.
  • New members, Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates have confirmed the invitation to join BRICS.
    • Argentina has decided to not join BRICS.
  • The last expansion of the BRICS occurred in 2010 when South Africa joined the group.

 

  • Significance of expansion
    • Increased global representation: BRICS now represents almost half the world's population and over a quarter of global GDP.
    • Shifting power dynamics: Will increase multipolarity and will challenge the established Western-led order.
    • South-South cooperation: Will raise cooperation among developing countries.
      • This will help India in advancing its claim as the leader of the global south.
    • Strategic: Will help to make a collective voice for the restructuring of global institutions.

 

  • Challenges with the BRICS
    • The divergence between countries with respect to their world view for example India sees BRICS as non-western whereas China sees it as anti-western.
    • Various economic and political sanctions on members may cause economic disruptions.
    • Internal trust deficit among the member states and lack of common understanding of standards, criteria, and procedure of expansion.
    • Overlapping with other groups like IBSA (India, Brazil, and South Africa).

 

  • Tags :
  • BRICS
  • Expansion of BRICS
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