16th BRICS Summit (Kazan, Russia)

• Event Overview: Held in Kazan, Russia (October 22–24, 2024) under Russia’s chairmanship. This was the first summit following the group's expansion.
• Theme: "Strengthening Multilateralism for Just Global Development and Security."
• Kazan Declaration: A comprehensive joint document focusing on global stability, financial integration, and the representation of the Global South.

Key Outcomes and Agreements

• Partner Country Status:
  • A new "Partner Country" category was introduced (distinguished from full membership).
  • 13 nations were added as partners, including Indonesia, Malaysia, Thailand, Vietnam, Algeria, Belarus, and Turkey.
• Financial Initiatives:
  • BRICS Clear: A proposed cross-border settlement and depository infrastructure to bypass Western-centric systems.
  • BRICS Grain Exchange: A proposal to create a platform for trading grain and commodities to ensure food security and stabilize prices.
  • Cross-Border Payments: Discussions on a "BRICS Bridge" payment system using local currencies and digital financial assets.
• Institutional Reform: Renewed calls for the reform of the UN Security Council (UNSC) and Bretton Woods institutions (IMF/World Bank) to better reflect the influence of emerging economies.

Geopolitical Stance

• Middle East: Expressed grave concern over the humanitarian crisis in Gaza and the escalation in Lebanon; reiterated support for a two-state solution.
• Ukraine Conflict: Members acknowledged various mediation proposals and emphasized that the conflict should be resolved via diplomacy and international law.
• Counter-Terrorism: Reaffirmed the need for the early adoption of the UN Comprehensive Convention on International Terrorism (CCIT).

India’s Participation and Bilateral Developments

• PM Modi's Address:
  • Emphasized that BRICS is an "inclusive" group, not an "anti-Western" one.
  • Stated that terrorism and its financing must be tackled without "double standards."
• India-China Relations:
  • A significant bilateral meeting between PM Modi and President Xi Jinping took place (the first formal meeting in 5 years).
  • Both leaders welcomed the recent agreement on Disengagement and Patrolling along the Line of Actual Control (LAC).
  • Instructions were issued to the Special Representatives to meet early to oversee peace and tranquility in border areas.

Membership Table (Status 2024)

Category	Countries
Original/Older Members	Brazil, Russia, India, China, South Africa
New Full Members (Jan 2024)	Egypt, Ethiopia, Iran, United Arab Emirates (UAE)
Notable Partner Countries	Turkey, Indonesia, Malaysia, Nigeria, Vietnam, Uzbekistan

Way Forward

• Brazil's Chairmanship: Brazil will take over the BRICS presidency in 2025.
• Focus: Continued emphasis on de-dollarization (use of local currencies) and expanding the influence of the New Development Bank (NDB).