BRICS: Fueling India’s Rise on the Global Stage
India's External Affairs Minister, S. Jaishankar, recently emphasized the importance of a multipolar Asia for achieving a multipolar world during the EU-India Pacific Ministerial Forum.
India’s “multi-alignment” strategy aims to enhance its influence by participating in multiple strategic and economic coalitions like the Quad and BRICS.
BRICS as a Platform for Development-Focused Diplomacy
India’s multidirectional foreign policy is driven by economic prosperity, technology advancements, norm influencing, and security strengthening. The Quad and BRICS are top priorities for India, with the Quad gaining more attention due to the China-India border standoff. However, BRICS plays a crucial role in India’s geoeconomic and geopolitical strategy, aligning with its development-focused diplomatic engagement.
BRICS addresses India’s core interests, such as energy security, counterterrorism, and climate change financing. It also promotes economic recovery, sustainable development, and multilateral governance reform, reflecting the realities faced by developing countries.
The BRICS alliance is vital in countering unfair systems like the EU’s Carbon Border Adjustment Mechanism (CBAM) taxes and provides political support against economic concentration and unilateral sanctions. It also helps India voice its concerns about provisions like the United States Inflation Reduction Act (IRA) that impact developing nations.
BRICS’s significance extends beyond the China-India border dispute. It advocates for an inclusive multilateral trading system and supports India’s global aspirations, including reforms in international institutions.
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BRICS serves as a platform for India to shape discussions and agendas. With India hosting the G-20 summit and Brazil and South Africa hosting future summits, BRICS becomes instrumental in addressing key issues affecting India’s economic, food, and energy security.
India’s Caution and Strategic Considerations within BRICS
However, India remains cautious of China’s intentions to shape BRICS to expand its influence. India emphasizes the need for a standardized expansion process and safeguards against BRICS becoming an “anti-Western” grouping.
BRICS plays a primary role in shaping the international trade order, climate change policies, financing, and multilateralism reform. India aims to leverage BRICS to advance its strategic interests and elevate its status, while also considering the Indo-Pacific region and the Quad’s importance.
In summary, India’s pursuit of a multipolar world relies on a multipolar Asia. BRICS aligns with India’s development-focused diplomacy, addressing its core interests and providing a platform to shape discussions and agendas. However, India remains cautious of China’s influence and emphasizes the need for a standardized expansion process. BRICS plays a significant role in shaping the international order and advancing India’s strategic interests.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
