The 17th BRICS Summit, held in Rio de Janeiro, Brazil, in 2025, marks a pivotal moment in the grouping’s evolution as it witnessed a major expansion in membership and partnerships. 

• The Summit concluded with the adoption of the Rio de Janeiro Declaration, reaffirming their collective commitment to strengthening cooperation across the Global South and promoting a more inclusive, equitable, and sustainable global governance framework.

About 17th BRICS Summit

• Theme: “Strengthening Global South Cooperation for a More Inclusive and Sustainable Governance”
• Location: Rio de Janeiro, Brazil
• Date: 6-7th July, 2025
• Last Summit Held: In Kazan, Russia (16th Summit)

Key Highlights of the BRICS 2025

• New Members Welcomed: 
  • Indonesia (as full BRICS member)
  • 10 others as BRICS Partner Countries: Belarus, Bolivia, Kazakhstan, Nigeria, Malaysia, Thailand, Cuba, Vietnam, Uganda, and Uzbekistan

• BRICS Commitment & Cooperation Pillars
  • Reaffirmed BRICS values: sovereign equality, inclusiveness, consensus
  • Strengthening cooperation across 3 pillars:
    • Political & Security
    • Economic & Financial
    • Cultural & People-to-People
• Extended full support to India: For its 2026 Chairship and the XVIII Summit.

Key Initiatives of the 17th BRICS Summit

Relevance of BRICS in Contemporary World

• Population Power: BRICS+ accounts for 4.45 billion people—55.61% of the global population (2025, IMF).
• Economic Influence: Represents 43.93% of global GDP at PPP, showcasing rising economic weight of the Global South.
• Voice for Global South: BRICS empowers developing nations to raise concerns on climate change, terrorism, and development equity. India leverages it to lead Global South advocacy on inclusive growth and fair global rules.
• Energy & Economic Leverage: With Iran, Saudi Arabia, and UAE, BRICS controls 44% of global crude oil. Promotes local currency trade, strengthens NDB, and challenges dollar dominance.
• Reforming Global Governance: Pushes for UNSC and WTO reforms to ensure fair representation. Except for Iran and Ethiopia, all BRICS+ members are WTO members, enhancing collective reform demand.
• Neutral Strategic Platform: Provides a safe space for dialogue, even amid tensions (e.g., India-China Doklam). Encourages strategic autonomy outside Western blocs.
• Expanding Global Footprint: BRICS+ includes Indonesia, Egypt, Argentina, etc., widening its geopolitical reach and boosting South-South cooperation.
• Addressing Global Challenges: Focus on climate finance, AI ethics, pandemic response, and sustainable development, as highlighted in the Rio Declaration 2025.

Challenges Associated with BRICS

• Divergent Geopolitical Interests: India–China border disputes (e.g., Galwan), and Saudi–Iran rivalry hamper unity.
  • Differing foreign policy alignments with the West dilute BRICS’ ability to act as a cohesive bloc.
• Economic Disparities & Sanctions: Huge gaps in economic size—China dominates; Russia and Iran face sanctions, limiting coordinated action.
  • Member economies face internal challenges—e.g., China’s slowdown, Russia’s war costs, South Africa’s fiscal instability.
• Underutilised Economic Potential: Intra-BRICS trade remains low (~2.2% in 2022) despite BRICS accounting for 18% of global trade.
  • Geographical distance and China-centric trade flows hinder deeper integration.
• Institutional Weaknesses: No central secretariat—leads to poor continuity, weak implementation, and dependency on rotating chairs.
  • Credit Rating Agency (CrRA) and BRICS Cable projects lack follow-through; Contingent Reserve Arrangement (CRA) remains underutilised.
• Slow Reform Delivery: Despite repeated calls for UNSC and WTO reforms, no real institutional restructuring has occurred.
  • BRICS+ countries hold only ~19% of voting power in the International Bank for Reconstruction and Development (IBRD)—far less than G7 or EU blocs.
• Weak Financial Alternatives: NDB lacks capital and credibility to rival IMF, World Bank, or even AIIB.
  • Limited co-financing, narrow impact, and lack of broad international partnerships reduce its global footprint.
• Consensus-Based Paralysis: The need for unanimity in decision-making slows down crisis response and policy formulation.
• Perception as Anti-Western Bloc: Despite stating support for multipolarity, BRICS is perceived as anti-West, especially post-Ukraine.
  • This perception creates distrust in global forums and limits cooperation on common agendas.
• External Pressure & Threats: The US President Donald Trump threatened a 100% tariff on BRICS nations if they reduced dollar usage.
  • Warned of a 10% tariff on any nation adopting “anti-American BRICS policies“, reflecting Western pushback on de-dollarisation.
• Competing Groupings: IBSA (India, Brazil, South Africa) and BASIC (Brazil, South Africa, India, China) seen as more ideologically aligned, especially among democracies.
  • BRICS’ political diversity makes forming shared agendas difficult.

Suggestions to Strengthen BRICS Cooperation

• Develop a Clear and Shared Vision: Define long-term goals to align diverse member interests and foster unity.
  • Establish a permanent BRICS Secretariat to ensure institutional continuity, coordination, and implementation.
  • This vision should aim to challenge Western-dominated global institutions like the IMF and World Bank.
• Reform Global Financial Governance: Strengthen the New Development Bank (NDB) by ensuring it is demand-driven, financially sustainable, and maintains a healthy credit rating.
  • Support Brazil’s emphasis on reforming the international financial system during its BRICS presidency.
  • Enhance institutional capacity for initiatives like BRICS-Pay, CRA, etc.
• Deepen Global South Engagement: Expand platforms like the BRICS Agricultural Research Platform to share best practices on climate-resilient agriculture, biotech, and precision farming.
  • Implement India’s One Nation, One Subscription model and set up a BRICS Science & Research Repository.
  • Uphold the principle of “Lead by Example” to meet the rising expectations of the Global South.
• Secure Supply Chains for Critical Resources: Cooperate on critical minerals and strategic technologies to prevent monopoly or weaponization.
  • Promote resilient and diversified supply chains for shared security and economic stability.
• Promote Responsible AI Governance: Frame global standards for ethical AI, addressing risks like bias, misinformation, and lack of transparency.
  • Promote India’s “AI for All” model in agriculture, health, education, and governance.
  • Support initiatives like the AI Impact Summit and implement the Leaders’ Statement on AI Governance.
• Institutional and Membership Reforms: Define clear membership criteria to avoid dilution of objectives and address concerns of core members like India.
  • Build mechanisms for consensus-building through proactive diplomacy.
  • Check Chinese dominance by balancing it with India’s economic diplomacy and strong ties with Russia and Iran.
• Enhance Intra-BRICS Trade and Connectivity: Boost intra-BRICS trade by promoting local currency trade and reducing non-tariff barriers.
  • Revive and implement connectivity projects like the BRICS Cable and digital integration platforms.

Conclusion

BRICS has emerged as a vital platform driving a multipolar, inclusive global order and advancing the 2030 Sustainable Development Agenda. By deepening cooperation in finance, health, technology, education, environment, and governance, it amplifies the voice and aspirations of the Global South and fosters equity, sustainability, and global peace.

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