Brics, initially conceived two decades ago as a forumof rapidly developing economies comprising Brazil, Russia, India, China and South Africa, has undergone significant evolution, transcending its original purpose. It is no longer merely a coalition of emerging-market voices. It has transformed into a more ambitious political and economic entity.

Brics is frequently regarded as a Chinese-led counterweight to US and Western European dominance, particularly within institutions such as the IMF, the World Bank and the UN. Following its recent expansion, which includes the admission of new members such as Egypt, Ethiopia, Iran and the UAE in 2024 and Indonesia in January 2025, with Saudi Arabia on the verge of joining, the bloc now represents approximately 46 per cent of the global population and 35-40 per cent of global economic output.

Despite its expanding influence and economic significance, Brics is grappling with internal divisions. The recent 17th Brics summit held in Rio de Janeiro fostered some unity concerning shared global challenges but also revealed profound disagreements on geopolitical matters, trade policies and technology governance. Brics leaders reiterated demands for multipolar global governance and institutional reform, particularly within the UNSCl and international financial structures. Brazil’s finance minister, Fernando Haddad, emphasised the necessity for enhanced representation and equity for Global South members, cautioning that global governance remains disproportionately skewed in favour of affluent northern nations.

In a similar vein, the group urged wealthier nations to adequately fund climate transition initiatives in developing economies, endorsing Brazil’s proposed Tropical Forests Forever Facility with investments from China and the UAE. These policy commitments showed Brazil’s developmental agenda and Brics’ ambition to articulate a vision for sustainable growth within the Global South. However, the bloc’s political cohesion faced challenges on contentious issues such as the conflict in Gaza.

Brics issued a collective appeal for a two-state solution while condemning violence. Nevertheless, Iran – already set to join in 2024 – expressed its reservations through diplomatic channels but refrained from vetoing the joint statement. A notable diplomatic signal reflecting these tensions was the reported absence of Saudi Arabia’s foreign minister, Faisal bin Farhan, from the political discussions. As a principal military ally of the US, Riyadh continues to navigate interests between Western and Brics affiliations, illustrating the complexities new members face in balancing their alliances.

Perhaps most indicative of the bloc’s current dynamics were the........

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