Summary of BRICS and 15th Summit Outcomes

BRICS Origin and Evolution:
- BRICS (Brazil, Russia, India, China, and South Africa) was established in 2001 and evolved to include South Africa in 2010.
- The annual summits since 2011 have focused on economic growth, trade, and investment.
- The New Development Bank (NDB) was created in 2014 to support sustainable projects.
- Cooperation on economic development and crisis response increased amid COVID-19.
- BRICS has transitioned from a growth-oriented concept to an essential platform for cooperation.

Three Foundational Pillars of BRICS:
1. Financial and Economic Collaboration:
- The NDB channels infrastructure resources and enhances trade, investment, and sustainable development.
2. Political and Security Cooperation:
- Discussions on global issues, counter-terrorism, and multilateral reforms.
- Regular meetings are held among leaders, foreign ministers, and security advisors.
3. Cultural and People-to-People Exchanges:
- Inter-cultural engagement and mutual understanding through education and innovation.

BRICS in Numbers:
- BRICS represents 40% of the global population, and its share of GDP is steadily increasing.
- The collective GDP of BRICS is expected to exceed 50% by 2028.
- BRICS represents 18% of global exports, with intra-BRICS trade on the rise.
- Economic growth within BRICS has been uneven post-pandemic.

15th BRICS Summit Highlights:
- Theme:'BRICS and Africa: Partnership for Growth, Development, and Inclusive Multilateralism.'
- The Summit focused on equitable transition, education, African trade, post-pandemic recovery, and multilateralism.
- The Summit was significant due to post-pandemic recovery, geopolitical tensions, and the absence of Putin.

BRICS Expansion:
- The idea of expansion has been discussed since 2013, and the 'BRICS Plus' concept was introduced in 2017.
- Twenty-three countries applied for membership, and six were invited (Argentina, Egypt, Ethiopia, Iran, Saudi Arabia, and UAE).
- Expansion boosts economic weight and provides a geopolitical alternative to Western-dominated institutions.

BRICS Currency and De-Dollarisation:
- There is a proposal for a BRICS common currency but mixed endorsements.
- Views are divergent: Brazil favors the currency, India is against it, and China and Russia support de-dollarisation.
- De-dollarisation aims to reduce reliance on the USD for international settlements.

BRICS and Emerging World Order:
- BRICS challenges Western dominance and seeks an inclusive, multipolar global system.
- Economic disparities and geopolitical tensions pose challenges to unity and progress.
- The 15th Summit underscores BRICS' resilience, adaptability, and collective vision.

India's Role in BRICS:
- India engages in BRICS for strategic autonomy, Global South solidarity, and multilateralism.
- India leads counter-terrorism efforts and aligns with climate change objectives.
- Balancing a non-Western identity and avoiding an anti-Western stance is challenging for India.

In summary, the BRICS coalition, consisting of Brazil, Russia, India, China, and South Africa, has evolved from its origin in 2001 to become a significant platform for economic, political, and cultural cooperation. The 15th BRICS Summit focused on Africa's partnership and expansion by inviting new members. BRICS seeks to challenge Western dominance, achieve a multipolar world order, and navigate challenges while maintaining unity. India's role in BRICS aligns with its strategic interests and Global South solidarity, with a focus on combating terrorism and addressing climate change.

India's G-20 Presidency: Fostering a Human-Centric, Sustainable, and Inclusive Global Future
Embracing Vasudhaiva Kutumbakam
- Vasudhaiva Kutumbakam: "the world is one family"
- Encouraging a universal family outlook transcending borders and ideologies
- Call for human-centric progress and unity in an interconnected world

Three Key Changes in the Post-Pandemic World Order
1. Shift to Human-Centric Perspective
- Recognition of the need to move beyond GDP-centric worldview
- Emphasis on valuing human well-being and progress
2. Importance of Resilience in Global Supply Chains
- Acknowledgment of the significance of reliability in supply chains
- Focus on building resilience for global stability
3. Call for Multilateralism and Global Institution Reform
- Collective effort to strengthen multilateralism
- Advocacy for reforming global institutions for inclusivity

Catalyzing Mindset Shift and Mainstreaming Marginalized Aspirations
- Voice of Global South Summit and participation from 125 countries
- Push for African Union inclusion in the G-20

Accelerating Progress on SDGs
- Midway point of the 2030 Agenda, with concerns about SDG progress
- G-20 2023 Action Plan for implementing SDGs

Climate Action and Collaboration
- India's historical commitment to living in harmony with nature
- Climate action as a complementary pursuit, including finance and technology transfer
- Initiatives like Chennai HLPs and Green Hydrogen Innovation Centre

Democratizing Climate Action
- Promoting lifestyle decisions for sustainable environments
- Comparison to the global Yoga movement
- Introduction of Lifestyles for Sustainable Environment (LiFE)

Food and Nutritional Security
- Millets (Shree Anna) as a solution for climate-smart agriculture
- Deccan High Level Principles on Food Security and Nutrition

Inclusive Technology and Digital Public Infrastructure
- India's efforts to leverage technology for inclusive growth
- Role of digital public infrastructure (DPI) in financial inclusion
- Plan to scale DPI through G-20 for developing countries

Women Empowerment
- Empowering women across sectors, from space to entrepreneurship
- Bridging gender digital divide and enhancing women's leadership roles

People-Driven G-20 Presidency
- India's reputation for accomplishing things at scale
- Hosting over 200 meetings in 60 cities, involving 1,00,000 delegates from 125 countries
- A unique opportunity for delegates to experience India's diversity and development

Nourishing Unity and Collaboration
- G-20 Presidency's commitment to unity, collaboration, and inclusion
- Making the global table larger and ensuring every voice is heard

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