PM Modi Set to Attend BRICS Summit 2023 in South Africa: What's on the Agenda?

Indian Prime Minister Narendra Modi is embarking on a journey to Johannesburg, South Africa, to participate in the 15th edition of the BRICS summit. This summit holds great importance as it marks the first in-person gathering of the BRICS nations—Brazil, Russia, India, China, and South Africa—since 2019.

The three-day event is poised to deliberate on crucial matters, including expanding membership, fostering cooperation, and enhancing institutional development.

BRICS Summit 2023: Priorities and Anticipations

Examining Future Collaborations: In anticipation of the BRICS summit, Prime Minister Modi underscored the significance of the event. He emphasized its potential to serve as a platform for member nations to identify prospective avenues of collaboration and evaluate the development of their institutions.

As a forum that represents a diverse range of nations with varied political systems, BRICS has evolved into a space where issues concerning the Global South, such as developmental needs and multilateral reforms, are earnestly discussed.

Renewed In-Person Interaction: The 15th BRICS summit is notably the first in-person meeting of the bloc's leaders in several years. With the last in-person summit held in 2019, this gathering holds the promise of invigorating direct interactions and exchanges among the leaders of Brazil, Russia, India, China, and South Africa. This renewal of face-to-face diplomacy is expected to invigorate collaboration and strategic discussions.

The Agenda at BRICS Summit 2023

Contemplating Bloc Expansion: Among the crucial matters on the BRICS summit agenda is the contemplation of expanding the membership of the bloc. The current member states—Brazil, Russia, India, China, and South Africa—are considering the potential inclusion of new members.

Notably, China has been a strong advocate of this expansion, aiming to bolster the influence of the bloc, which already represents 40% of the world's population and a quarter of global GDP.

Fostering Cooperation and Institutional Development: Prime Minister Modi highlighted the ongoing cooperation agenda across various sectors within BRICS. The summit's discussions are expected to focus on reviewing the progress of BRICS in terms of cooperation and institutional development.

The aim is to identify new areas of collaboration that can contribute to the bloc's overarching goal of fostering a more balanced global order.

BRICS in a Changing Global Landscape

Navigating Global Tensions: The backdrop of the BRICS summit is set against a changing global landscape marked by heightened tensions, including the Ukraine conflict and escalating rivalry between China and the United States.

The BRICS nations view this juncture as an opportunity to strengthen their collective stance and project themselves as a counterweight to Western dominance.

Prospects of a Common Currency: While discussions about a BRICS currency have been floated earlier, the South African organizers have indicated that this specific topic will not be part of the summit's agenda. Nevertheless, boosting the utilization of local currencies among member states remains an area of interest for the bloc, potentially reducing reliance on the US dollar.

The BRICS Bloc's Vision and Evolution

Origins and Evolution of BRICS: Originating from an informal club in 2009, BRICS was founded as a platform to challenge the global order dominated by the United States and its Western allies.

The acronym initially comprised Brazil, Russia, India, and China, with South Africa joining in 2010. While not a formal multilateral organization, BRICS convenes its member nations' heads of state and government annually, rotating chairmanship among its members.

Global Interest in BRICS: BRICS has garnered significant interest from countries beyond its core members. Over 40 countries, including Iran, Saudi Arabia, United Arab Emirates, and Argentina, have expressed their desire to join the bloc.

This interest stems from the perception that BRICS offers an alternative platform to traditional Western-dominated global bodies, with potential benefits including development finance, increased trade, and investment.

Some relevant and latest facts about the BRICS summit 2023:

• The summit will be held in Johannesburg, South Africa from August 22-24, 2023.

• The leaders of Brazil, Russia, India, China and South Africa will attend the summit.

• The summit will focus on the following agenda items:

  • Expansion of BRICS bloc

  • Review of institutional development

  • Boosting the use of member states' local currencies

  • Global economic recovery and development

  • Climate change

  • Food security

  • Countering terrorism and extremism

  • Promoting peaceful settlement of disputes

  • Strengthening multilateralism

• Over 40 countries have expressed interest in joining BRICS.

• India is wary of Chinese dominance in BRICS and has warned against rushing expansion.

• Brazil, meanwhile, is concerned that growing BRICS will dilute its influence.

• BRICS is expected to become a champion of the developing "Global South" and offer an alternative to a world order dominated by wealthy Western nations.

Here are some additional facts that may be relevant to the news article:

• The BRICS countries account for more than 40% of the world's population and a quarter of the global economy.

• BRICS has been described as a "new economic superpower" and a "potential counterweight to the West."

• The BRICS countries have been working together to increase trade and investment, promote development, and address global challenges.

• The BRICS summit is a major event that is closely watched by the global community.

Conclusion:

The BRICS Summit 2023 in South Africa holds immense significance as it marks a crucial gathering for member nations to deliberate on expansion, cooperation, and institutional development.

With a renewed focus on face-to-face interactions and discussions, the BRICS nations aim to strengthen their collective voice and contribute to shaping a more balanced global order.

The summit also reflects the growing interest from countries worldwide in aligning with the bloc's vision for a more equitable and multipolar world.