BRICS strengthens developing countries and emerging markets

IPA Staff
8 Min Read

By Ashok B Sharma

The BRICS Summit for the year 2026 has ended with a clear indication of preserving South-South cooperation. Though countries of the Global South have many differences among themselves on various issues, BRICS has decided to stay as the stabilising mechanism to resolve them amicably, via vigorous dialogue, particularly for the emerging markets and developing countries (EMDCs). The EMDCs are pinning their hopes on BRICS, quite evidently. Significantly, the chair of the session, Prime Minister Narendra Modi, on the conclusion of the New Delhi BRICS Declaration proposed the setting up of a BRICS Continuity and Implementation Mechanism through the troika – a mechanism that will ensure systematic follow-up on all initiatives and outcomes.

“We can create a secure digital repository in which, for every decision, the nodal point, timeline, and implementation status can be recorded,” he said and added that an architecture of Global Governance was necessary, that was based on Representation, Responsiveness and Rule-making. He proposed that we work together to formulate ten proposals for global governance reform that could develop into a BRICS Reform Roadmap by the next summit. On the issue of representation, he made a pitch for the permanent membership of the UN Security Council, which has been delayed and stuck in text-based negotiations.

“Similarly, in financial institutions, voting power, leadership positions, and policy priorities should reflect today’s economic realities. Countries that drive global economic growth should also have an appropriate role in shaping global economic governance”, he said and added that on responsiveness the global institutions should have the trust of the people, in order to be more effective.

Modi called for setting up of ‘Seafarers Emergency Support Network’ which would connect maritime authorities of concerned countries to facilitate distress alerts, medical assistance, communication with families and support for evacuation He made a plea for freedom of navigation.

The Global South should have equal participation in rule-making to shape the future of the world. BRICS summit demonstrates that the emerging technologies have enabled them to do so, to some extent.

The 21 countries of BRICS represent 50 percent of world population, 40 percent of the global GDP and more than 25 percent of the global trade. Over the years, while the global GDP has grown around 2.5 times, the combined GDP of the BRICS countries has grown by around 4.5 times.

Over the last five years, more than 40 percent world GDP has been produced by the BRICS countries, whereas the contribution of the G7, stands at only 29 percent.

The BRICS New Delhi Declaration was delayed due to the disagreements amongst Iran, Saudi Arabia and UAE. However, they eventually came to terms and agreed to sign the declaration.

The declaration has condemned terrorism and terror financing, particularly with reference to Jammu and Kashmir terror activities on April 22, 2025. “We express strong condemnation of any acts of terrorism as criminal and unjustifiable, regardless of their motivation, whenever, wherever and by whomsoever committed,” the declaration said. It also welcomed  the activities of the BRICS Counter-Terrorism Working Group (CTWG) and its five subgroups based on the BRICS Counter-Terrorism Strategy, the BRICS Counter-Terrorism Action Plan and the CTWG Position Paper. “We look forward to further deepening counter-terrorism cooperation. We call for an expeditious finalization and adoption of the Comprehensive Convention on International Terrorism in the UN framework. We call for concerted actions against all UN designated terrorists and terrorist entities,” the declaration added.

On UN reforms, the declaration emphasied the need for the selection and appointment process of the UN executive heads and senior positions to be guided by the principles of transparency and inclusiveness. It noted that no woman has ever been elected from Africa and Asia for the role of the UN Secretary General, and only one national from Latin America and the Caribbean, has so far been elevated to the post.

China and Russia as permanent members of the UN Security Council reiterated their support for the aspirations of Brazil and India to play a greater role in the UN Security Council.

With the growing share of EMDEs in global output and growth, reform of global economic governance remains a consistent BRICS priority. BRICS will continue to strengthen coordination among BRICS members to make international financial institutions more representative, transparent and accountable.  There is an urgent need to reform the Bretton Woods Institutions (BWI) to make them more agile, effective, credible, inclusive, fit for purpose, unbiased, accountable, and representative, to enhance their legitimacy.

BRICS has called for Palestine with West Bank and Gaza Strip to be a full member of UN General Assembly. It has advocated a two-state formula with East Jerusalem as Capital of Palestine. It has supported an end to Israeli atrocities in Gaza.

BRICS also expressed concern about the growing risks of nuclear danger and conflict and reiterated the need for invigorating the system of disarmament, arms control and non-proliferation and for preserving its integrity and effectiveness to achieve global stability and international peace and security. It called for significant contribution of nuclear-weapon-free zones to the strengthening of the nuclear non-proliferation regime. Also notable was BRICS’ “support for and respect towards all existing nuclear-weapons free-zones and their associated assurances against the use or threat of use of nuclear weapons, acknowledging the paramount importance of the efforts aiming at accelerating the implementation of the resolutions on the Establishment of a Zone Free of Nuclear Weapons and other Weapons of Mass Destruction in the Middle East, including the conference convened pursuant to UN General Assembly Decision 73/5”.

BRICS called on all invited parties to participate in this conference in good faith. The adoption of the UNGA Resolution 79/241 – “Comprehensive study of the question of nuclear-weapon-free zones in all its aspects” – as well as the successful conclusion of the study, which was adopted by the group by consensus, was also significant.

New Delhi BRICS Summit has therefore been a great diplomatic effort in bringing all stakeholders on board to support the cause of the Global South and emerging markets and developing countries. Now the baton has passed on to China. (IPA Service)

 

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