BRICS+ Expansion: What It Means For India And The Global South

NDTV

8 hours ago

Prime Minister Narendra Modi's five-nation tour, which includes a key stop in Brazil for the upcoming BRICS Summit, comes at a pivotal moment for the grouping's evolving identity. With BRICS+ expansion high on the agenda, the summit is expected to delve into the inclusion of new member countries - a move that could reshape the global power balance. As the voice of the Global South grows louder, India's role within BRICS is poised to become even more influential. PM Modi's participation signals New Delhi's commitment to shaping the expanded framework and aligning its priorities toward development, equity, and a multipolar world order.
The BRICS bloc, initially formed by Brazil, Russia, India, China, and South Africa, has now expanded to include Saudi Arabia, Egypt, the United Arab Emirates, Ethiopia, Indonesia, and Iran, bringing the total number of member nations to eleven. This expansion transforms BRICS into a more formidable coalition, representing nearly half of the world's population and around 37% of global GDP in purchasing power parity (PPP). The enlargement signals a strategic pivot towards greater cooperation among emerging economies, with a focus on financial sovereignty, sustainable development, and inclusive global governance.
Strengthens Global South and Pushes De-Dollarisation
According to a report by Sputnik News, the recent BRICS+ expansion reflects a strategic shift toward the Global South. With the inclusion of Saudi Arabia, Iran, and the UAE, the bloc now accounts for approximately 45% of the world's oil production, significantly boosting its energy influence on the global stage. This shift empowers the bloc to explore de-dollarisation-trading oil in local currencies like rupees or the yuan, potentially weakening western financial hegemony. The New Development Bank (NDB) also strengthens with new members, enhancing its ability to fund South-South infrastructure and sustainability projects outside Western-led institutions. (South-South cooperation (SSC) refers to the exchange of resources, technology, and knowledge between developing countries.)
What It Means For India?
According to United States Institute of Peace, India views BRICS as a platform to promote global leadership, strategic autonomy, and a multipolar world order. While its relationships with Russia and Iran within BRICS may complicate ties with the US, they haven't hindered India's growing security cooperation with the US.
For India, the expanded group offers significant dividends. Incoming BRICS members like Egypt and Ethiopia are longstanding strategic partners, offering new avenues for trade, energy security, and geopolitical engagement. With major energy suppliers aboard, India gains leverage to diversify supply chains and secure imports at competitive terms. Increased intra-BRICS trade can boost Indian exports in textiles, machinery, and technology, bolstering its bid to become a South-South leader.
Strategically, India's robust ties with both Western democracies and BRICS grant it a unique bridging role. It adeptly balances China-Russia ambitions with its own vision of multipolarity, reinforcing global governance reform without becoming a pawn in great-power rivalry.
But challenges loom. Internal divisions, such as those between China's push for geopolitical dominance and India's insistence on defined membership criteria, could hamper cohesion. BRICS' diverse membership - from democracies to authoritarian states - creates coordination frictions, especially on contentious issues. Consensus-based decision-making may slow the group's ability to act decisively.
According to Reuters, BRICS+ plans a new multilateral guarantee fund through the NDB to catalyse private sector investment in member economies, with pilot programmes expected in 2026. As Prime Minister Modi prepares to attend the July 2025 summit in Rio, India is positioning itself as the voice of a more inclusive Global South.