16th BRICS Summit (October 2024)

Summit Overview

• Host City: Kazan, Russia.
• Theme: "Strengthening Multilateralism for Just Global Development and Security."
• Significance: First summit following the 2024 expansion (inclusion of Egypt, Ethiopia, Iran, and UAE).
• Primary Outcome: Adoption of the Kazan Declaration, which emphasizes a more representative and multipolar world order.

Introduction of "Partner Country" Status

• The summit established a new "Partner Country" category instead of immediate full membership for new applicants.
• 13 Partner Countries: Algeria, Belarus, Bolivia, Cuba, Indonesia, Kazakhstan, Malaysia, Nigeria, Thailand, Turkey, Uganda, Uzbekistan, and Vietnam.

Economic and Financial Initiatives

• BRICS Clear: A proposed independent system for settlement and clearing to facilitate cross-border trade in grain and other commodities.
• BRICS Pay: Discussion on a decentralized messaging and payment system to reduce reliance on the Western-led SWIFT network.
• Local Currencies: Emphasis on using local currencies in financial transactions between member states to mitigate global financial risks.

India’s Key Contributions and Bilateral Developments

• Five Pillars of Cooperation: PM Modi emphasized Trade, Health, Technology, Energy, and People-to-People ties.
• LAC Patrolling Agreement: The summit provided the backdrop for the first formal bilateral meeting between India and China in five years, following a consensus on patrolling rights along the Line of Actual Control (LAC).
• Stance on Terrorism: India pushed for the early adoption of the Comprehensive Convention on International Terrorism (CCIT) at the UN.

Global Issues and Geopolitics

• Conflict Resolution: The Kazan Declaration called for the peaceful resolution of conflicts through diplomacy, specifically addressing the situations in Ukraine and the Middle East (Gaza and Lebanon).
• UN Reforms: Renewed calls for the reform of the UN Security Council to include greater representation from the Global South.

Sectoral Cooperation

Sector	Initiative/Focus
Space	Expanding the BRICS Remote Sensing Satellite Constellation.
Environment	Focus on the "BRICS High-Level Dialogue on Climate Change" and sustainable development.
Health	Strengthening the BRICS Vaccine R&D Center and Integrated Early Warning System for pandemics.
Energy	Collaboration on energy security and the transition to clean energy sources.