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    EYE ON INDIA                                                              MAY 22, 2026     |  The Indian Eye                    9

            dence  on  Western-controlled  finan-                                                                 cautious about the organisation’s fu-
            cial systems, supply chains and trade                                                                 ture trajectory. New Delhi does not
            mechanisms. The repeated referenc-                                                                    want  BRICS  to  evolve  into  a  Chi-
            es to “resilient supply chains,” “tech-                                                               na-dominated geopolitical alliance.
            nology  transfer,”  and  “equitable                                                                       This explains why India repeat-
            participation” reflected growing con-                                                                 edly  emphasised  practical  coopera-
            cerns about global fragmentation.                                                                     tion during the New Delhi meeting
                Agrawal stated that BRICS had                                                                     rather  than  ideological  confronta-
            grown  stronger  despite  “rising  pro-                                                               tion.
            tectionism,  geopolitical  tensions,                                                                      The  Chair’s  Statement  itself
            supply chain disruptions, inflationary                                                                reflected  this  careful  balancing.  It
            pressures and growing uncertainty.”                                                                   stressed  dialogue,  diplomacy,  sus-
                This is one reason why BRICS                                                                      tainable  development  and  inclusive
            has  become  more  attractive  to  de-                                                                growth  rather  than  aggressive  an-
            veloping  countries.  Many  econo-                                                                    ti-Western rhetoric.
            mies  in  the  Global  South  feel  vul-                                                                    The Future of BRICS
            nerable  to  external  shocks  created
            by  great-power  rivalry,  sanctions                                                                        he New Delhi meeting demon-
            regimes  and  disruptions  in  global                                                                       strated that BRICS is entering
            trade.  BRICS  offers  the  possibility     External Affairs Minister S. Jaishankar meets Iranian Foreign Minister Seyed Abbas Araghchi on the   Ta new phase.
            — at least theoretically — of creat-                                                                      The bloc is no longer simply an
            ing  alternative  networks  for  trade,   sidelines of the BRICS Foreign Ministers Meeting, in New Delhi on Friday. (@DrSJaishankar X/ANI Photo)  economic forum of emerging powers.
            finance and investment.                                                                               It is becoming a broader geopolitical
                India used the meeting to  em-  gression”  against  Iran.  He  alleged   and China remain geopolitical rivals   platform where developing countries
            phasise  sectors  where  such  coop-  that the UAE had allowed its territo-  despite  economic  cooperation.  Iran   seek  alternatives  to  existing  global
            eration  could  deepen.  Discussions   ry to be used for attacks against Teh-  and the UAE are on opposing sides   structures.
            focused  on  strengthening  MSMEs,   ran and described Abu Dhabi as “an   of major regional conflicts. Russia’s   Its  influence  is  clearly  growing.
            expanding services trade, diversifying   active partner in this aggression.”  confrontation  with  the  West  cre-  The expansion of membership, rapid
            value chains and supporting innova-  The UAE responded sharply.     ates  additional  complications  for   growth in intra-BRICS trade and in-
            tion.                                                               countries trying to balance relations   creasing interest from Global South
                Delegates  also  visited  Guja-       inister of State Khalifa Sha-  across multiple power centres.  countries all point toward rising rel-
            rat  International  Finance  Tec-City     heen Al Marar categorical-    The  New  Delhi  meeting  there-  evance.
            (GIFT  City),  which  India  hopes  to  Mly  rejected  the  allegations   fore  highlighted  a  difficult  reality:   But  the  meeting  also  showed
            develop into a major global financial   and  accused  Iran  of  threatening  re-  BRICS can no longer avoid geopo-  that  BRICS  faces  major  structural
            hub. The symbolism was important.   gional  stability.  Abu  Dhabi  stated   litical disputes simply by focusing on   weaknesses.
            India is attempting to present itself   that Iranian attacks had targeted ci-  economics.                 The  bloc  lacks  institutional  co-
            not merely as a participant in BRICS   vilian  infrastructure,  ports,  airports   India’s Balancing Act  hesion. Its members have competing
            but as a central driver of the bloc’s   and energy facilities, while also accus-                      strategic interests. Regional conflicts
            economic future.                  ing Tehran of attempting the “de fac-  or  India,  hosting  the  BRICS   are increasingly spilling into BRICS
                There  is  also  a  larger  strategic   to closure” of the Strait of Hormuz.  foreign ministers’ meeting was   diplomacy.  Economic  cooperation
            calculation behind India’s approach.   The UAE described the target-  Fan exercise in strategic balanc-  remains  far  below  potential  levels.
            New Delhi sees BRICS as a platform   ing of commercial shipping and the   ing.                        Political trust between key members
            that can amplify the voice of devel-  use  of  Hormuz  as  “economic  coer-  New Delhi sought to project it-  remains fragile.
            oping countries without forcing India   cion or blackmail.”         self  as  a  bridge  between  competing   The  Iran-UAE  confrontation
            into rigid geopolitical alignments.   This  exchange  revealed  a  fun-  geopolitical  camps.  Jaishankar  held   in New Delhi symbolised these con-
                Unlike formal military alliances,   damental challenge for BRICS: how   meetings  not  only  with  Russia  and   tradictions  perfectly.  BRICS  today
            BRICS  offers  flexibility.  India  can   can a bloc function effectively when   China  but  also  with  representatives   contains both the promise of a more
            cooperate  economically  with  China   some of its members are directly ac-  from  the  UAE,  Saudi  Arabia,  Ka-  multipolar  world  and  the  instability
            and  Russia  within  BRICS  while  si-  cusing each other of aggression and   zakhstan,  Uzbekistan,  Vietnam  and   that such a transition can produce.
            multaneously  maintaining  close  ties   destabilisation?           Nigeria.                              Its  future  will  likely  depend  on
            with Western powers through other     The  confrontation  exposed  the   This  diplomatic  outreach  re-  whether the grouping can evolve be-
            forums such as the Quad and G20.  limits  of  BRICS  solidarity.  Unlike   flects India’s broader foreign policy   yond  symbolic  declarations  and  de-
                This strategic flexibility partly ex-  NATO  or  the  European  Union,   philosophy  —  maintaining  engage-  velop stronger mechanisms for coop-
            plains why India remains deeply in-  BRICS  has  no  common  security   ment across rival power centres rath-  eration despite internal differences.
            vested in BRICS despite its tensions   framework, no unified strategic doc-  er than aligning exclusively with any   For now, BRICS remains a coa-
            with China.                       trine  and  no  institutional  mecha-  one bloc.                    lition united more by shared dissat-
                                              nisms for conflict resolution between   The  BRICS  platform  suits  this   isfaction with the current global or-
                  The Iran-UAE Clash          members.                          strategy  because  it  allows  India  to   der than by a common vision of what
                   owever, the New Delhi meet-    Instead, it is a coalition built on   strengthen ties with emerging econ-  should replace it.
                   ing  also  demonstrated  the   shared dissatisfaction with the exist-  omies  while  preserving  its  strategic   That may still be enough to en-
            Hdangers of rapid expansion.      ing global order rather than shared   autonomy.                     sure its continued growth. But as the
                The  most  dramatic  moment   ideological or geopolitical alignment.  India also benefits from BRICS   New  Delhi  meeting  showed,  man-
            came  when  the  ongoing  Iran-West   As  BRICS  expands,  these  con-  politically. The bloc gives New Del-  aging  diversity  inside  an  expanded
            Asia conflict spilled directly into the   tradictions are likely to grow.  hi greater influence in debates over   BRICS will become increasingly dif-
            BRICS platform.                       The bloc now includes countries   global  governance  reforms,  trade   ficult as global tensions deepen.
                Iranian Foreign Minister Abbas   with  competing  regional  ambitions,   rules,  climate  finance  and  develop-  The  bloc’s  greatest  strength  —
            Araghchi accused the UAE of being   different  political  systems  and  con-  ment priorities.        its  diversity  and  flexibility  —  may
            “directly  involved  in  the  act  of  ag-  flicting  strategic  partnerships.  India   At the same time, India remains   also become its greatest challenge.

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