BRICS Summit: Why It Matters So Much for India
The BRICS Summit being hosted by India is not just an honour or a big international event. In my view, it is a very important opportunity for India to increase its influence in world affairs and also to gain economically and strategically.
BRICS has become much bigger than it was when it started with Brazil, Russia, India and China. Today, it includes 11 countries and represents a very large part of the world's population and economy.
But how powerful is BRICS really? And what can India actually gain from hosting the summit?
India gets an important position
The biggest advantage for India is that, as the host country, India gets to decide many of the important issues that BRICS will discuss during the year.
India's focus this year is on resilience, innovation, cooperation and sustainable development. There is also a strong focus on startups, small businesses, technology, trade, energy and better cooperation between member countries.
This means India is not simply arranging a meeting. It gets a chance to put its own priorities before some of the world's most important countries.
A rare opportunity to bring major powers together
The summit also gives India an opportunity to directly engage with leaders of countries such as China and Russia, along with other important nations from Asia, Africa, the Middle East and Latin America.
This is particularly important because India has to maintain good relations with countries that do not always get along with each other.
India has its own differences with China, but China is also one of India's biggest trading partners. Russia remains an important partner for India, especially in defence and energy.
At the same time, India has very strong and growing relations with the United States, Europe, Japan and other Western countries.
This is where India's position becomes important.
India does not have to choose one side. It can maintain relations with everyone and protect its own interests.
Economic benefits could be even more important
For India, the real success of BRICS should not be measured only by the final declaration or photographs of world leaders.
The bigger benefit could come from increased trade and business opportunities.
BRICS countries can work together on supply chains, technology, startups, small businesses, energy and investment.
India is also pushing for better opportunities for its MSMEs and startups to enter foreign markets. A proposed BRICS Startup Innovation Fund and greater cooperation between startup centres could eventually help Indian entrepreneurs find investors, partners and customers in other BRICS countries.
There is also the New Development Bank, which can provide money for infrastructure and development projects. If its role becomes bigger, developing countries will have another important source of funding besides traditional institutions such as the World Bank.
What about the dollar?
Another important discussion is about using the currencies of BRICS countries for trade.
This does not necessarily mean that BRICS is going to create a new currency or replace the US dollar.
For India, the more practical idea is that two countries should be able to settle some of their trade more easily using their own currencies.
This could reduce dependence on the dollar in some areas, but I don't think India wants to completely move away from the dollar. India's approach is likely to be more practical than political.
Can BRICS really influence world politics?
Yes, but it is important to understand its limitations.
BRICS is economically and politically important, but it is not like NATO. It does not have a common army or a single foreign policy. Its members often disagree with each other.
For example, India and China have their own disputes. Russia and the West have serious differences. Even some BRICS members have disagreements among themselves.
Therefore, BRICS cannot simply behave like one united country or alliance.
But its size gives it a strong voice.
When countries representing such a large part of the world's population and economy speak together on issues such as international trade, energy, development, global financial institutions or UN reforms, the rest of the world cannot ignore them.
India's bigger goal
I believe India's biggest strategic opportunity is to make BRICS stronger without allowing it to become an anti-American or anti-Western group.
India wants a world where there are several powerful centres, rather than one country or one group dominating everything.
At the same time, India does not want BRICS to become dominated by China either.
This balancing act is very important for India.
India wants good relations with Russia and China, but also with America, Europe, Japan and other countries. BRICS gives India another platform to increase its influence while keeping its freedom to make its own decisions.
What would make the summit a real success?
For me, the summit will be successful if it produces practical results rather than just another long declaration.
The most useful outcomes for India would be:
- Better trade between BRICS countries
- More opportunities for Indian companies and MSMEs
- Greater cooperation for startups and technology
- Easier trade using national currencies
- More investment through the New Development Bank
- Cooperation in energy and important supply chains
- Greater support for India's demand for reforms in global institutions
- A stronger voice for developing countries in world affairs
My conclusion
So, hosting BRICS is definitely more than an honour for India.
The real advantage is that India gets the opportunity to bring major powers together, set the discussion, promote its economic interests and strengthen its position as an important voice of the developing world.
BRICS may not become a military or political alliance like NATO, and its members will continue to have disagreements. But economically and diplomatically, it has become too large to ignore.
And perhaps the most important thing is this:
India does not need to choose between the West and the BRICS. India's strength is that it can talk to both.
If India can use this summit to increase trade, investment, technology cooperation and its influence in global decision-making, then the real achievement of BRICS will not be the summit itself — it will be the opportunities India creates from it.
