BRICS — Basic Structure

Basic Structure

BRICS is a multilateral cooperation forum comprising Brazil, Russia, India, China, and South Africa, expanded in 2024 to include Egypt, Ethiopia, Iran, Saudi Arabia, and UAE. Originally formed as BRIC in 2009, it became BRICS in 2010.

The group represents 42% of world population and 23% of global GDP. Key institutions include the New Development Bank (NDB) with $100 billion capital and Contingent Reserve Arrangement (CRA) worth$100 billion.

BRICS operates on consensus-based decision-making with rotating presidencies. Main objectives include promoting South-South cooperation, reforming global governance, and providing alternative financing mechanisms.

For India, BRICS offers strategic benefits including access to alternative financing, platform for engaging major powers, and advancing positions on global governance reform. The group faces challenges from internal contradictions, particularly China-India tensions and diverse political systems.

Recent developments include expansion to 10 members, development of BRICS Pay system, and growing focus on de-dollarization. BRICS represents the institutionalization of multipolarity and emerging economies' challenge to Western-dominated international order.

Important Differences

vs G20

Aspect	This Topic	G20
Membership	10 emerging economies (post-2024 expansion)	19 countries plus EU and African Union
Focus	South-South cooperation, alternative institutions	Global economic coordination, crisis management
Decision Making	Consensus among emerging economies only	Includes both developed and developing countries
Institutions	New Development Bank, Contingent Reserve Arrangement	No permanent institutions, works through existing frameworks
Representation	Exclusively emerging/developing economies	Mix of developed and developing economies

While G20 serves as a broader forum for global economic coordination including both developed and developing countries, BRICS specifically represents emerging economies seeking alternatives to Western-dominated institutions. BRICS has created its own financial institutions and focuses on South-South cooperation, whereas G20 works within existing international frameworks. The key difference lies in BRICS' role as a challenger to the established order versus G20's role as a coordinator within it.

vs Shanghai Cooperation Organisation

Aspect	This Topic	Shanghai Cooperation Organisation
Primary Focus	Economic cooperation and development financing	Security cooperation and counter-terrorism
Geographic Scope	Global (Africa, Asia, Latin America, Middle East)	Primarily Eurasian region
Institutional Framework	New Development Bank, Contingent Reserve Arrangement	Permanent Secretariat, Regional Anti-Terrorist Structure
China's Role	Equal member with 20% stake in institutions	Dominant influence due to geographic and economic factors
India's Position	Founding member with significant influence	Full member since 2017, balancing China's influence

BRICS and SCO serve different aspects of India's multilateral engagement. BRICS focuses on economic cooperation and alternative development financing, while SCO emphasizes security cooperation and regional stability. BRICS offers India more balanced partnership with China due to equal institutional representation, whereas SCO is more China-centric due to geographic factors. Both organizations help India engage with China and Russia while maintaining strategic autonomy.

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