However, the expansion of BRICS membership has so far not been discussed at the level of the government officials of member countries…reports Asian Lite New
Foreign Minister Subrahmanyam Jaishankar has said that there need to be criteria and standards to determine which countries can join BRICS, a trade alliance that consists of Brazil, Russia, India, China, and South Africa.
“We have a positive view about it, but we obviously believe that there are supposed to be some criteria and standards for (BRICS) membership,” he added at a press briefing, stressing that the Indian government is open-minded about expanding BRICS membership.
According to the minister, the important things that will need to be taken care of when expanding BRICS membership are ensuring the nature of BRICS and devising certain criteria for those applying for membership.
“There must be some measurements, a ‘yardstick’ by which we can judge potential applicants,” he explained.
However, the expansion of BRICS membership has so far not been discussed at the level of the government officials of member countries, Jaishankar added.
He noted that a number of countries have expressed a desire to join BRICS, which is being chaired by South Africa this year. The BRICS Summit will be held from August 22–24, 2023, in Johannesburg.
Indian newspapers recently reported that five countries will be accepted as new members of the organization at the BRICS Summit.
The five countries are Argentina, Egypt, Indonesia, the United Arab Emirates, and Saudi Arabia.
“…Criteria, procedure, leaders have mandated from the last BRICS summit. Discussions are underway at the Sherpa level, on what the criteria could be. Certainly, we are approaching this very positive mind and positive framework. Let’s see what the summit brings out in this process,” Arindam Bagchi said in an MEA press briefing.
He also refuted any claims that India was against any such expansion of the BRICS bloc.
“Regarding, what else we are expecting from the summit. This is an organisation in which we have been participating from inception, and this is something that we attach value. I will be waiting for a detailed preview of Prime Minister’s visit…” he further said.
Meanwhile, this year, South Africa is chairing the BRICS and will host the prestigious 15th Summit in Johannesburg from August 22-24, 2023 with great anticipation.
Prime Minister Narendra Modi also accepted the invitation of the summit sent by South African President Cyril Ramaphosa.
Formed as BRIC and later joined by South Africa, BRICS stands as a beacon of economic optimism, presenting an alternative global order to challenge the dominance of traditional institutions. The visionary concept was coined by Goldman Sachs economist Jim O’Neil in 2001.
BRICS economies represent 27 per cent of the global Gross Domestic Product (GDP) and over 18 per cent of global trade. These countries also register 50 per cent of the total global economic growth, making them the most significant countries propelling global growth.
Over the years, the BRICS has accomplished several achievements. The two notable ones are the New Development Bank and the Contingent Reserve Arrangement. The New Development Bank (NDB) was launched in 2014 with an initial capital of $50 billion, with member countries making an equal contribution of $10 billion each.
India wants BRICS to take a constructive stance on contemporary issues amid the ongoing Russia-Ukraine conflict and in the aftermath of the COVID-19 pandemic, Sifiso Mahlangu wrote in the IOL report. Prime Minister Narendra Modi is a strong advocate of dialogue and diplomacy as a means to end the ongoing conflict between Russia and Ukraine. (ANI)
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