Business and bonhomie in Kazan: The significance of the BRICS Summit 2024

For India, its adoption of The Kazan Declaration represents yet another significant turning point. The Kazan Declaration is anticipated to support the BRICS countries' joint endeavours to tackle global concerns, ranging from security to economic development, and to demonstrate the group's increasing global clout.

Rajyavishek Pradhan Oct 27, 2024
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BRICS leaders at Kazan, Russia

As the BRICS held its 16th Summit in Kazan, Russia, Indian Prime Minister Narendra Modi remarked that India is fully committed to increasing cooperation under the BRICS. He reaffirmed the belief in diversity and multipolarity as the strength of the grouping and mentioned that the shared belief in humanity will help give a meaningful shape to the prosperous and strong future of the future generation.

The BRICS Summit, a gathering of the world's leading emerging economies - Brazil, Russia, India, China, and South Africa - has been a significant event on the global stage, and the 2024 edition in Kazan, Russia was no exception. BRICS nations, which collectively account for 30% of the Earth's land mass,  45% of the world's population, and 28% of the global economy have the potential to play a pivotal role in shaping the future of the global economy. For the alliance, which now includes ten member countries, the Summit between October 22–24, 2024, is proving to be a pivotal moment.

Turning point in India-China ties

A major diplomatic development took place on 23 October as Prime Minister Modi and Chinese President Xi Jinping held their first bilateral meeting in five years. They emphasised that a stable bilateral relationship between Beijing and New Delhi will contribute to world peace and prosperity. India-China ties, which have been tense due to border concerns in recent years, may improve with the long-awaited meeting between the leaders of the two Asian powers. Significant progress was made in efforts to end the military impasse along the Line of Actual Control. The meeting also helped India and China address their security concerns, with both parties agreeing to return patrolling rights to each other in the Depsang Plains and Demchok region in Ladakh. For many, this represents a turning point in the tense relationship between the two neighbors.

In the meantime, India has taken the position that it is open to providing any support for peace in Ukraine and has been in communication with all parties on the resolution of the Russia-Ukraine conflict through dialogue. PM Modi said that "India is always ready to help bring peace" at his bilateral meeting with Russian President Vladimir Putin. 

Additionally, PM Modi held meetings with the presidents of Uzbekistan, UAE, and Iran where they discussed ways to deepen economic cooperation and people-to-people exchanges. Strengthening its relations with Iran in particular has proven to be significant. To gain access to trade routes and expand their influence in the Middle East, India is collaborating with Iran to create the strategically important Chabahar port. Hence, the Summit provided India the opportunity to strengthen its ties with Russia, balance relations with the United States, and strategically align itself with important players such as Iran and the UAE.

BRICS' growing influence in global politics

For India, its adoption of The Kazan Declaration represents yet another significant turning point. The Kazan Declaration is anticipated to support the BRICS countries' joint endeavours to tackle global concerns, ranging from security to economic development, and to demonstrate the group's increasing global clout. In announcing its future objectives, the BRICS group has emphasised the need to fortify cooperation and solidarity founded on common interests. It embodied the organization's common vision and goals and described the future course it expects to take. The declaration states, "It reaffirmed the significance of further strengthening BRICS solidarity and cooperation based on our mutual interests."

According to a Goldman Sachs analysis, the BRICS group has long been seen as a growing power in the global economy and in the ensuing decades their economic and demographic sway—especially that of China and India—is expected to increase further. At this Summit, India had the chance to make a time-bound proposal for reforms at the Summit to international organisations like the WTO, UN Security Council, and multilateral development banks.

The Summit advocated a reform of multilateralism and underlined the importance of people-centric approaches to addressing global issues. With Modi lauding the expanding collaboration and development of BRICS, the enlarged grouping emphasized the significance of communication and diplomacy for world peace and stability. Such solidarity appears to be essential in light of the current churn in global geopolitics. So, while balancing the delicate balance between East and West, India is using BRICS as a platform to enhance its international stature.

(The author is Assistant Professor, North Bengal St. Xavier College, India with research interest in global geopolitics and strategic issues, Views are personal. He can be reached at rajyavishekpradhan@gmail.com,  X Username - @Rajyavishek29 )

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