BRICS summit gives China greater space to advance economic and technology agenda
NEW DELHI: The BRICS Summit in New Delhi provided India with an opportunity to demonstrate its role in the Global South, while also giving China greater space to advance proposals on economic integration and technology cooperation, according to a fresh assessment of the summit.
Chinese President Xi Jinping’s return to India after seven years was one of the major diplomatic developments surrounding the September 12-13 summit. His participation alongside Prime Minister Narendra Modi and other BRICS leaders highlighted the importance of the grouping as a platform for dialogue among major emerging economies.
China used the summit to promote initiatives including a BRICS AI Open Source Zone aimed at encouraging cooperation on artificial intelligence. Beijing also called for deeper economic integration, stronger industrial and supply chains and greater connectivity among BRICS economies.
Economic cooperation was a major part of the summit’s agenda. The joint communiqué supported greater use of local currencies in trade and investment and backed efforts to improve interoperability between central bank digital currencies.
However, questions remain over how future BRICS payment infrastructure would be developed and governed. India has maintained a cautious approach towards systems in which one country could have disproportionate influence over financial infrastructure.
The summit also brought together countries with differing strategic interests, including India, China, Russia, Iran and the UAE. India’s role in hosting the leaders demonstrated its ability to bring countries with different positions to the same diplomatic platform.
For New Delhi, the summit was also an opportunity to highlight issues important to developing economies and push for greater representation of emerging countries in global institutions.
At the same time, China’s growing economic and technological influence within BRICS remains an important strategic consideration for India.
The New Delhi summit therefore produced a mixed diplomatic picture: India strengthened its role as a convening power, while China used the platform to advance proposals aimed at expanding economic and technological cooperation across the grouping.
