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is the group’s expansion going to make decision making a strenuous exercise
Russia is preparing to host the 16th BRICS Summit from October 22 to 24. It’s going to be a much more significant Summit because of a couple of main reasons:
1. BRICS 2024 is happening in a country that’s fighting a raging conflict against Ukraine for more than 2 years. In February 2022, Russian troops marched into Ukraine as part of a so-called ‘special military operation’. The conflict has claimed thousands of lives on either sides.
2. BRICS 2024 is set to be the first-ever Summit of expanded members. In the beginning of this year, Saudi Arabia, Egypt, Ethiopia and a couple more countries joined the economic bloc. Over 30 other states are also interested in joining the group.
Is BRICS relevant in today’s evolving era?
BRICS (originally comprising of Brazil, Russia, India, China and South) has become one of the most credible organisations of the Global South. The relevance of the group can be gauged from the simple fact that its share in global GDP has risen considerably.
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From 2000 to 2023, BRICS share in global GDP, measured in terms of PPP, rose from 21 to 35%. But in the same period, G7’s share declined from approximately 43% to 30%. This gap is going to increase even more if the GDP of the latest members are taken into consideration.
The expansion of BRICS is expected to improve its influence globally. But there is a real concern that it is likely to complicate the decision-making process. Do you think more members means arriving at a conclusion is going to be a strenuous exercise?
