Prime Minister Narendra Modi arrived in Kazan, Russia, on Tuesday for a two-day visit to attend the 16th BRICS Summit. The summit, themed “Strengthening Multilateralism for Just Global Development and Security,” is expected to see world leaders discuss significant global challenges. Modi is also scheduled to hold bilateral talks with Russian President Vladimir Putin and other world leaders including Chinese President Xi Jinping during the summit.
The 2024 BRICS Summit, hosted by Russia, is viewed as a platform for non-Western powers to demonstrate their influence amidst the ongoing conflict in Ukraine. It is the first summit of the BRICS bloc after its expansion last year in Johannesburg, South Africa. This year, the group, which originally consisted of Brazil, Russia, India, China, and South Africa (added in 2010), has expanded to include Iran, Egypt, Ethiopia, and the United Arab Emirates. The expansion aims to enhance the group’s inclusivity and focus on global development, positioning BRICS as a significant alliance representing 41% of the global population and 24% of the world’s GDP.
A key topic on the summit’s agenda is President Putin’s proposal for a BRICS-led payment system, an alternative to the Society for Worldwide Interbank Financial Telecommunication (SWIFT). This comes after Russian banks were excluded from the international financial network in 2022. Additionally, the summit will focus on addressing the escalating tensions in West Asia.
Before his departure for Kazan, PM Modi emphasised the importance of the BRICS Summit and his commitment to strengthening ties between India and Russia. He expressed optimism that his visit, the second to Russia this year, would further bolster the Special and Privileged Strategic Partnership between New Delhi and Moscow.
The summit comes at a crucial juncture for BRICS countries, as they seek to carve out a distinct role in shaping global economic and geopolitical discourse. With the addition of new members, BRICS is positioning itself as a counterbalance to Western-dominated international platforms, promoting a more multipolar world order. Discussions at the summit are expected to cover a wide range of issues, including global security, economic development, and cooperation in areas of strategic interest.