India Foundation, in collaboration with India Habitat Centre organized a Panel discussion on ‘BRICS and the Emerging World Order’ on 5th August, 2025 at Gulmohar Hall, India Habitat Centre. The Panelist for the discussion were Shri Dammu Ravi, Secretary (ER), Ministry of External Affairs; H.E. Prof Anil Sooklal, High Commissioner of Republic of South Africa to India, H. E. Vladimir Ladanov, Chargé d’Affaires, Embassy of the Russian Federation in India & Shri Pankaj Saran, Member National Security Advisory Board & Former Deputy National Security Advisor. The session was moderated by Capt Alok Bansal, Director, India Foundation.
The event was widely attended from diplomats, policy makers, bureaucrats, scholars among others attended. One of the key discussions were how BRICS has grown from five founding members to ten, with 25–30 countries formally seeking membership. This surge reflects the aspirations of the Global South for inclusive governance and the bloc’s appeal to nations across continents, from major economies like China and India to strategically placed smaller states such as the UAE and Cuba. Participants stressed that BRICS’ expansion is driven by its ability to voice Global South concerns—ranging from global governance reform, poverty alleviation, and food security to AI governance, financial stability, and tropical disease management—and to develop solutions from within the South itself.
A strong economic focus emerged as the unifying force within BRICS. Delegates emphasized trade settlement in national currencies, strengthening the New Development Bank as a lender without IMF- or World Bank-style conditionalities, and developing financial infrastructure such as BRICS Clear, a cross-border payments system, and a BRICS Investment Platform. The discussion recognized that consensus-building remains both a hallmark and a challenge, particularly with sensitive issues like UN Security Council reform and the definition of terrorism, among others.
Geopolitical context was central to the debate, with panellists identifying two major external events shaping BRICS: the 2008 global financial crisis, which spurred the G20 and bolstered BRICS’ role, and the 2022 Ukraine conflict, which revived Global South solidarity amid renewed East–West polarization. While acknowledging differences, speakers affirmed that BRICS is neither anti-West nor isolationist but committed to a multipolar and inclusive international order.
The forum concluded that BRICS is consolidating its role as a durable platform for the Global South and an alternative to the world. Its future will depend on sustaining economic cooperation, managing diversity among members, and delivering consensus-based solutions. With India set to assume the BRICS chairmanship next year, expectations are high for it to advance initiatives in finance, governance, and development, building on the legacies of Brazil and South Africa to strengthen the bloc’s position in a multipolar world.
