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Challenges in upcoming BRICS meet

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August 31, 2017

What is the issue?

  • The upcoming BRICS meet at Xiamen in China is considered to be important card for India to revive its economic ties with china.
  • India has to face many challenges to get benefited from the meet.

What is the importance of BRICS?

  • The valuation of the BRICS grouping that represents 40% of the world’s population and a quarter of its growth at $17 trillion.
  • The group of emerging economies had been bolstered by the formation of the BRIC group with a declared objective of battling “Western hegemony”.
  • It is seen as the potential of the combined political influence of India and China.
  • The BRICS New Development Bank set up in 2015 has already given out about $6 billion in loans for 23 projects across BRICS countries.

What are the significance of the Xiamen meet?

  • The Doklam tensions casted a significant shadow over economic ties between both countries.
  • Thus this meet gains global importance as two rivals meet after the standoff.
  • Economic ties have been one of the main drivers of bilateral relations between China and India.
  • The future of BRICS itself based on India and China’s revival of ties.

What are the challenges for India in this meet?

  • The Nuclear Suppliers Group membership for India, terrorism, the Dalai Lama and others are likely to dominate discussions at BRICS as it now underpins all of China’s other policies.
  • India’s refusal to be a part of the BRI over sovereignty issues will be a pulling factor over the meet.
  • China’s plan for a “BRICS-Plus” or “Friends of BRICS” grouping, a plan to include Pakistan, Sri Lanka and Mexico to an expanded version of BRICS is distressing India.
  • India cannot to be opposing China’s rationale of promoting “south-south cooperation” further.
  • Russia’s closer ties with China will affect the language of the joint statement especially on Afghanistan, this will hurt India’s interest.

 

Source: The Hindu

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