India’s opportunity to put BRICS back together

The evolution of BRICS from a platform for economic cooperation and reformed multilateralism to a contested space highlights the complexities of contemporary geopolitics. Originally focused on advocating for a more equitable global order and reforming institutions like the UN Security Council and IMF, the group is now navigating the overarching Sino-US rivalry. China's strategy involves utilizing BRICS and mechanisms like BRICS-Plus to consolidate the Global South under its leadership, framing the group as a counterweight to Western dominance. India, adhering to its principle of strategic autonomy, aims to maintain BRICS as a 'non-West' entity focused on reform rather than an 'anti-West' bloc. The expansion to 11 members introduces the risk of bilateral disputes paralyzing the consensus-driven body, similar to the fate of SAARC. For UPSC, it is crucial to analyze India's diplomatic maneuvering to balance its membership in BRICS alongside its participation in the Quad, ensuring its interests are not subsumed by China's geopolitical ambitions.

The economic dimension of BRICS reveals a contestation over the future of global financial architecture. The establishment of the New Development Bank (NDB) was a significant milestone, intended to provide alternative financing for infrastructure and sustainable development in emerging markets. However, current debates center around the push for de-dollarisation (reducing reliance on the US Dollar in international trade). While China advocates for a parallel BRICS currency, which could increase its regional hegemony through the Renminbi, India and others prefer practical solutions like interlinking payment systems and using Central Bank Digital Currencies (CBDCs) for national-currency transactions. China's launch of alternative systems like the mBridge project and the Asian Infrastructure Investment Bank (AIIB) signals a direct challenge to the Bretton Woods institutions. UPSC aspirants should evaluate the viability and implications of these alternative financial structures and India's stance on ensuring they do not become instruments of Chinese economic dominance.

The article underscores a critical governance challenge within expanded multilateral bodies: the erosion of the principle of consensus. BRICS has traditionally operated on consensus, preventing any single member from dominating the agenda. The recent trend of issuing non-consensus documents, seen during the Russian presidency and subsequent ministerial meetings, threatens the group's cohesion and effectiveness. This mirrors the dynamic in the Shanghai Cooperation Organisation (SCO), where majority views can overshadow dissenting voices. India's objective at the 2026 summit will be to restore this consensus-building process and prevent bilateral conflicts among new members from derailing the group's core agenda. Furthermore, the push for parallel structures in emerging governance areas like Artificial Intelligence, digital governance, and satellite navigation by China emphasizes the need for India to actively participate in shaping these norms within BRICS to prevent the monopolization of standards by a single power.