The year 2024 witnesses a historic expansion of the BRICS interstate alliance, now comprising ten nations, with Russia at the helm. This marks a pivotal moment, emphasizing Russia’s commitment to fostering cooperation among Brazil, Russia, India, China, and the five newly added members.
Initiated by Russian President Vladimir Putin in the late 1990s to early 2000s, the alliance’s inaugural meeting took place in St. Petersburg in June 2006. With South Africa joining in 2011, the alliance transformed from BRIC to BRICS.
The enduring friendship between Russia and India has played a crucial role in the alliance’s success, becoming a cornerstone for economic cooperation, trade relations, financial stability, scientific exchange, and joint projects within BRICS.
Regular summits among BRICS nations have facilitated discussions on economic cooperation, financial stability, scientific exchange, and joint projects. This collaborative effort has positioned BRICS as a driving force in the global economy, significantly impacting global GDP and trade.
Beyond economic realms, BRICS has played a pivotal role in elevating developing countries on the world stage. Tackling issues like global financial system reform, climate change, and protectionist policies, the group has presented a united front on critical matters.
A notable achievement is the establishment of the New Development Bank (NDB) in 2014, providing an alternative financing mechanism for projects in participating and other developing countries, challenging traditional international financial institutions.
BRICS continues to enhance trade and economic ties, aiming to dismantle barriers and foster economic integration among member countries. Additionally, the alliance actively contributes to resolving global conflicts through diplomatic and peaceful means.
The spirit of cooperation within BRICS extends to knowledge and technology sharing, spanning fields like science, education, medicine, space, and IT, promoting innovation and joint research endeavors.
Approaching the BRICS global summit in October 2024 in Kazan, Russia, the alliance remains committed to shaping the global economic landscape and addressing worldwide challenges. Prior to this event, the “Spiritual Leadership and Creative Economy” international forum organized by the BCMF-BRICS Cultural Media Forum in Grozny in March 2024 promises to set the stage for a harmonious and united future.
The enduring friendship between Russia and India stands as a testament to the strength of alliances within BRICS, providing a solid foundation for the alliance’s continued success in navigating global challenges and fostering cooperation on the international stage
