Harnessing BRICS ‘POWER’ to empower the world, Pg6

Key Highlights:

• The 18th BRICS Summit is scheduled to be hosted by India in New Delhi on September 12-13, 2026.
• India assumed the BRICS chairmanship on January 1, 2026, marking its fourth time as chair.
• China has extended full support to India's presidency, aiming to leverage BRICS POWER to empower the world.
• The summit's theme under India's chairship is "Building for Resilience, Innovation, Cooperation and Sustainability".
• BRICS has expanded to include 11 full members, with Indonesia officially joining in early 2025.

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Detailed Insights:

• The article outlines a framework for BRICS cooperation using the acronym "POWER": Principle, Openness, Win-Win, Engine, and Responsibility.
• Principle emphasizes upholding the United Nations Charter and safeguarding international relations norms like sovereign equality and non-interference.
• China's Global Security Initiative and Global Governance Initiative are presented as solutions for addressing common human challenges and building a better world.
• Openness advocates for the multilateral trading system, with the World Trade Organization (WTO) at its core, and resisting protectionism.
• Win-Win cooperation focuses on accelerating the implementation of the UN Sustainable Development Goals and strengthening macroeconomic policy coordination.
• BRICS is highlighted as an Engine for global economic growth, representing nearly half of the world's population and around 30% of global economic output.
• The group's growth is projected to be nearly three times faster than the G-7 by 2028, fostering cooperation in digital economy, smart manufacturing, and AI.
• Responsibility underscores the role of BRICS in maintaining world peace and development, with India and China taking successive presidencies.
• Improved China-India relations, including resumed direct flights and border trade, are noted as conducive to steady and sustained BRICS cooperation.

Key Concepts Involved:

• BRICS: An intergovernmental organization currently comprising Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Iran, Indonesia, Saudi Arabia, and the United Arab Emirates.
• United Nations Charter: The foundational treaty of the United Nations, signed in 1945, outlining its purposes and principles such as sovereign equality and peaceful dispute resolution.
• World Trade Organization (WTO): An intergovernmental organization established in 1995, regulating and facilitating international trade through a rules-based framework.
• UN Sustainable Development Goals (SDGs): A collection of 17 global goals adopted by the United Nations in 2015 to achieve peace and prosperity for people and the planet by 2030.
• Global South: A term referring to a broad group of developing and emerging countries, primarily across Asia, Africa, and Latin America, sharing common development concerns.
• G-7: An informal forum of seven advanced economies: Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States.
• International Monetary Fund (IMF): An international financial institution of 191 member countries, promoting global monetary cooperation, financial stability, and sustainable economic growth.
• Global Security Initiative (GSI): A Chinese diplomatic initiative proposed by Xi Jinping in 2022, advocating for common, comprehensive, cooperative, and sustainable security.
• Global Governance Initiative (GGI): A Chinese diplomatic initiative proposed by Xi Jinping in 2025, aiming to reform and improve the global governance system to be more inclusive and representative.