Dr. Rajiv Ranjan, Associate Professor, East Asian Studies at the University of Delhi, commented on India’s expectations regarding the BRICS Summit to Harici: “I think it is wrong to think that India-China rivalry or disagreements are weakening BRICS. From the Xiamen Summit in 2017 to the Kazan Summit in 2024, BRICS has emerged as one of the international platforms to defuse tensions between India and China. The India-China tension has not affected BRICS in any way.”

While the West is eyeing the points of ‘disagreement’ at the 16th BRICS Summit that started in Kazan, hosted by Russia, an important step came from China and India, two rival countries in the grouping that have been at the forefront of disagreement and conflict between them.

Indian Foreign Minister Subrahmanyam Jaishankar said the agreement on military patrols in certain areas brings the situation back to where it was before the deadly border clash in 2020, adding that the “distancing process” with China has been completed. Beijing confirmed that the two sides had “reached a settlement” as a result of “close communication on relevant border issues through diplomatic and military channels”.

This was seen as a development that would pave the way for a meeting between Indian Prime Minister Narendra Modi and Chinese President Xi Jinping in Kazan. It is expected to be the first official meeting between Xi and Modi since the 2020 conflict, which created a lasting strain in relations between the two countries.

Prior to the summit, Western experts had said that it would be difficult for BRICS to develop a common position and adopt a common stance, especially in light of the conflict between the two countries. However, this development shows that BRICS is playing a positive role in resolving conflicts between member countries.

We discussed the meaning and importance of BRICS for India and New Delhi’s expectations from the Kazan Summit with Assoc. Prof. Rajiv Ranjan from East Asian Studies at the University of Delhi.

What do BRICS mean for India? What are India’s expectations from this summit?

BRICS for India is a grouping of countries which reflects their aspiration to build better world, which is equitable and just. BRICS also represents new reality of these new emerging countries in the world. BRICS is united to help and assist countries of Global South to develop, both economically and politically.

From this summit , which is after recent expansion of BRICS, India hopes to get better voice for countries of Global South. Prime Minister is expected to meet both Russian President Putin and Chinese president Xi Jinping on sidelines of the summit too. This is essential for India to usher the multipolar Asia and world order. India promote trade and economic development, protect interests of global south in climate change negotiations and fight against terrorism.

For Putin, this summit is considered important both symbolically and practically. What do you think? How do you evaluate the importance of this summit for Russia?

Since Russia -Ukraine war, Russia is under sanctions both political and economically by united West. Russia may like to garner support to counter these pressures.

The dispute and competition between China and India is seen as one of the weaknesses of BRICS. Do you agree? On what issues might the two countries clash at this BRICS summit? Is the expansion agenda one of them?

I think this is the wrong way to project and infer that India – China competition or disputes any way weakens BRICS. In fact, BRICS has emerged as one of the international platforms which defuses the tension between India and China, from Xiamen Summit 2017 to Kazan Summit 2024. In no way India China tension has impacted BRICS.

BRICS expansion had enabled India to reach to greater audiences in Global South. As we know that expansion of BRICS is not decided by one member but all so it wrong to say that any one can have more influences or dictate the terms to other.

China had called for BRICS to “transform into a new type of multilateral cooperation mechanism”. China is said to see BRICS as a tool for its political and strategic goals towards the international system. Do you agree?

Ans. Every member countries has its own agenda and objectives. But remember that BRICS is a collective identity and not foreign policy of one country. BRICS is formed to enlarge and protect the interests of its member countries. As PRIME Minister Modi had remarked earlier BRICS is not against any other country. We have to see BRICS as a positive voice in international system and not anti west grouping.

So don’t you agree with the approach that BRICS is an alternative to Western-centered institutions and functioning?

BRICS is an alternative but not necessarily against the west. It is designed to protect and create more equitable and just order. It is not designed to oppose but create complementary to the existing institutions and structures.

BRICS has an important place in the world economy. De-dollarization in trade and alternative payment systems between member countries are on the agenda of this summit. How do you evaluate this? Do you see it realistic?

BRICS, if it can come up with its own currency, then it will provide alternative to existing payment system. Domination of one currency is not good for global south. The world is moving towards multipolar order and thereby it’s natural that there are payment systems which is not controlled and exploited by few institutions or countries. Thereby having more payment alternatives in fact, usher economic multipolarity.

Well, it looks little complicated given the very nature of BRICS and above all of would be united efforts of a group of countries leading to a payment system not dominated by one but true multilateral payment system.

Chinese President Xi Jinping, during a meeting with his Russian counterpart Vladimir Putin on the sidelines of the 16th BRICS summit in Kazan, stated that Moscow and Beijing are successfully advancing trade and economic cooperation despite the complex global situation.

“Despite the chaotic and complex situation in the world, cooperation between our two countries in trade and other fields is actively progressing, and large-scale cooperation projects are being steadily implemented,” China Central Television quoted President Xi as saying.

He emphasized that Beijing and Moscow should safeguard the UN-centered international system and maintain global strategic stability.

“As permanent members of the UN Security Council and major global powers, China and Russia should expand their comprehensive strategic coordination, closely interact, and coordinate their actions within multilateral frameworks such as the UN and the Shanghai Cooperation Organisation,” Xi stated.

President Xi also noted that Beijing would work to “seize new opportunities for the global south,” adding that he hopes to foster strategic and practical cooperation among the BRICS nations.

For his part, Putin referred to Xi as a “dear friend” and highlighted that the partnership between Russia and China is a force for stability in the world.

“Russian-Chinese cooperation in world affairs is one of the most important stabilizing factors on the world stage,” Putin said.

“We intend to further strengthen coordination across all multilateral platforms to ensure global security and a fair world order,” the Russian leader added.

Putin opens the meeting

The 16th BRICS Summit, chaired by Russia, is being held in Kazan from October 22 to 24.

President Putin, who is chairing the summit, opened the 10-member meeting in Kazan.

His opening speech will be followed by a closed-door session. Later on Wednesday, delegations from the 10 BRICS countries will participate in an expanded meeting open to the media.

The BRICS grouping was founded in 2006 by Brazil, Russia, India, and China, with South Africa joining in 2011. Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates became full members on January 1, 2024. The Kazan Summit will be the first attended by these new members. Representatives from more than 30 countries are expected to attend.

The 16th BRICS Summit kicked off today in Kazan, hosted by Russian President Vladimir Putin.

According to the Kremlin, representatives from 32 countries, including 24 heads of state, are expected to attend the event in the semi-autonomous Republic of Tatarstan.

The summit will officially begin this evening with a “friendly dinner” for all attending leaders. Before that, however, Putin will hold a series of bilateral meetings, which are set to continue after dinner and over the coming days.

Today, the Russian president is scheduled to meet with Indian Prime Minister Narendra Modi, South African President Cyril Ramaphosa, Chinese President Xi Jinping, and Egyptian President Abdel Fattah El-Sisi. The leaders are expected to discuss a wide range of issues.

Putin will also meet with the President of the New Development Bank, former Brazilian President Dilma Rousseff. This marks their third meeting since Rousseff took on her role at the New Development Bank.

Expansion agenda

The BRICS group—comprising Brazil, Russia, India, China, and South Africa—has recently expanded to include Egypt, Ethiopia, Iran, and the United Arab Emirates.

The BRICS bloc now represents 45 percent of the world’s population and 35 percent of the global economy in purchasing power parity (PPP) terms.

President Putin noted that 34 countries, including Turkey, have expressed interest in joining the bloc.

Experts expect the summit to focus on BRICS expansion, with Russian officials highlighting the group’s adaptability and long-term growth agenda.

While BRICS is often seen as an alternative to Western-centric institutions, Putin told reporters from BRICS countries that “BRICS is not in opposition to anyone” and that the shift in global growth dynamics is simply a reflection of reality.

“This is a union of states working together on the basis of shared values, a common vision of development, and, above all, the principle of taking each other’s interests into account,” he said.

As the BRICS summit opens, finance chiefs from around the world are also gathering in Washington for an IMF meeting.

Xi and Modi attend summit, Lula absent due to illness

Chinese President Xi Jinping arrived in Russia this morning to attend the summit, accompanied by senior Chinese Communist Party official Cai Qi and Foreign Minister Wang Yi.

Xi is expected to hold bilateral talks during the summit, focusing on key issues such as financing, technology, food trade, and expanding the bloc’s membership.

Indian Prime Minister Narendra Modi is also attending, though Brazilian President Luiz Inacio Lula da Silva canceled his trip on medical advice. Lula was advised to avoid long-haul flights temporarily following a head injury that caused a minor brain hemorrhage.

Before departing for Russia, Prime Minister Modi emphasized the importance of BRICS in fostering dialogue on global challenges. “India values close cooperation within BRICS, which has become an important platform for dialogue on the global development agenda, reformed multilateralism, climate change, economic cooperation, building resilient supply chains, and promoting cultural and people-to-people linkages,” he said, according to India Today.

BRICS vs. G7

The term BRIC was first coined in 2001 by then-Goldman Sachs chief economist Jim O’Neill in a research paper that highlighted the growth potential of Brazil, Russia, India, and China.

These countries began formal cooperation, and Brazil was later added, followed by South Africa. Egypt, Ethiopia, Iran, and the UAE have since joined, although Saudi Arabia has not yet formally become a member.

According to the International Monetary Fund, the BRICS’ share of global GDP is expected to rise to 37 percent by the end of the decade, while the G7’s share is projected to decrease from 30 percent to around 28 percent this year.

Alternative payment systems to counter sanctions

Russia is urging BRICS countries to develop an alternative platform for international payments, one that is resistant to Western sanctions.

Alternative payment methods are expected to be a key topic on the summit’s agenda.

In an interview with the Serbian daily Politika, published on the Russian Foreign Ministry’s website, Russian Deputy Foreign Minister Sergei Ryabkov suggested that significant progress could be made in mutual payment mechanisms after the Kazan summit.

“I believe that as a result of the summit in Kazan, we will see significant developments in this area. As our Chinese friends say, ‘a journey of a thousand miles begins with one small step.’ I think we will take a not-so-small first step,” Ryabkov said.

However, Ryabkov cautioned that no “giant leap forward” should be expected, noting that the process will likely evolve gradually, as BRICS operates on a consensus basis.

“We have a long way to go for a gradual transition from payments in national currencies to the creation of a single BRICS currency,” the diplomat added.