Fawzia Moodley
India's contribution and participation at the 16th BRICS Summit held last month underlines the influence and stature of the world’s largest democracy in global affairs.
As a founding member of BRICS, India has been a pivotal part of this grouping, which seeks to promote multilateralism in an increasingly polarised world.
The summit came against the backdrop of the Russia-Ukraine war and the Palestinian crisis, which is fast escalating into a wider Middle-East conflict.
BRICS, which now includes Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates in addition to Brazil, Russia, India, China, and South Africa, was envisioned to create a more just economic world order.
Representing over 40% of the world’s population and approximately 36% of the global GDP, BRICS has set itself the goal of pooling resources to the benefit of the global South. It also aims to use its clout to reform global institutions such as the World Bank and International Monetary Fund, and aspires to reduce global dependence on the US dollar.
The entry of Iran as a BRICS member state has raised the spectre of a potentially anti-West bloc emerging. After all, two of its founding members - Russia and China - are long-standing rivals of the West, the US in particular.
But contrary to the fears among some in the West, the presence and influence of India is likely to have a tempering effect on the likelihood of BRICS turning it into an anti-West platform.
This was evident from Prime Minister Narendra Modi's statement at the summit that his country "supports dialogue and diplomacy and not war."
He called for a speedy resolution to the Russia-Ukraine conflict, adding that BRICS could play a positive role in ending wars, and addressing the challenges of climate change and terrorism.
On Palestine, India’s Foreign Minister, S. Jaishanker, expressed “widespread anxiety”. He said “The human and material consequences of further escalation are truly serious. Any approach has to be fair and durable, leading to a two-state solution.
The cordial relationship between Russian President Vladimir Putin and Modi is an interesting counterpoint to India's position as one of the most pro-West countries within BRICS.
Modi spoke warmly of the friendship between the two countries and invited Putin to his country for the 23rd India-Russia summit. The Russian President in turn was effusive in his praise of Modi. During bilateral talks on the sidelines of the BRICS summit, and amid laughter, Putin said: "Our relationship is so tight that you will understand me without translation."
The summit served as a platform for detente between India and China, hostilities between whom reached crisis point during a border clash in 2020. Modi and Chinese President Xi Jinping met on the sidelines of the summit, just days after the two countries reached an agreement on patrolling along the Line of Control (LAC) to end the border war that had led to the deadly clash at the Galwan border.
The two leaders agreed that peace between their countries was not only crucial for the development of both economies but also for the region. They pledged to use the Special Representatives mechanism on the China-India border, to promote peace on the border and to reach a fair settlement.
BRICS is all about levelling the economic playing field for developing nations, through among other measures, increasing financial integration among member countries.
Modi lauded this goal, saying: ”We welcome efforts to increase financial integration among BRICS countries. Trade in local currencies and smooth cross-border payments will strengthen our economic cooperation. The Unified Payments Interface [UPI] developed by India is a huge success story and has been adopted in many countries.”
Urging more countries to join India in doing trade in local currencies or locally developed payment mechanisms, the Indian prime minister said: “Trade in local currencies and smooth cross-border payments will strengthen our economic cooperation."
Reinforcing the message of economic development through consensus and cooperation, Modi called for an uncompromising stance against terrorism, placing peace and stability as preconditions for a fairer, more just world order and emphasising the nexus between them.
Fawzia Moodley is a freelance media practitioner
BUSINESS REPORT