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NEW DELHI: Leaders of the BRICS nations are meeting in New Delhi on Saturday for a summit focused on trade, investment and global conflicts, as the bloc seeks a bigger role in shaping the global agenda for emerging and developing countries.<\/p>\n
Indian Prime Minister Narendra Modi is hosting Russian President Vladimir Putin, Chinese President Xi Jinping, Iranian President Masoud Pezeshkian and counterparts from the other eight BRICS members.<\/p>\n
The summit comes as wars in Ukraine and the Middle East, along with rising US-China tensions, test the bloc\u2019s ability to find common ground among countries with competing geopolitical interests.<\/p>\n
Thousands of police and paramilitary personnel were deployed around the summit venue and other parts of New Delhi, with traffic restrictions and diversions in place.<\/p>\n
BRICS was founded in 2006 by Brazil, Russia, India and China, with South Africa joining in 2010. It has since expanded to 11 members, representing about half the world\u2019s population and a significant share of global economic output. The group has increasingly called for greater representation for developing countries in global institutions.<\/p>\n
The leaders are expected to discuss economic cooperation, energy, food security, technology, supply chains and reforms to global institutions.<\/p>\n
Reducing reliance on the US dollar will also be a priority, with members promoting greater use of their own currencies in trade and payments, as well as pushing for alternatives to Western-dominated financial institutions.<\/p>\n
Russia and China seek to expand influence<\/strong><\/p>\n China and Russia see BRICS as a way to reduce Western dominance, particularly that of the United States, while strengthening cooperation among emerging and developing economies.<\/p>\n Putin, in a speech at the BRICS Business Forum in New Delhi on Friday, said the grouping was not against anyone and Moscow was open to cooperation with countries around the world.<\/p>\n \u201cWe are in favor of our interests,\u201d he said.<\/p>\n Iran has also pushed for mechanisms that could reduce the bloc\u2019s reliance on Western financial systems and shield members from economic pressure, as Tehran faces sweeping sanctions and a US blockade.<\/p>\n Iranian President Masoud Pezeshkian backed expanding trade in national currencies among BRICS members.<\/p>\n \u201cOne of the most important steps is to expand the use of national currencies in trade among the members,\u201d he told reporters on Friday.<\/p>\n China, meanwhile, is leveraging the grouping to deepen its influence within the bloc and position it as a counterweight to US power.<\/p>\n Chinese Foreign Ministry spokesperson Mao Ning said Friday that Xi was expected to discuss major international issues and ways to deepen cooperation among BRICS members.<\/p>\n India balances strategic partnerships<\/strong><\/p>\n For India, the summit highlights its effort to maintain strategic ties with Russia and Iran while deepening relations with the US and Europe. New Delhi has sought to balance its longstanding partnerships with Moscow and Tehran with efforts to expand economic, defense and technology ties with Washington and other Western nations.<\/p>\n India has maintained close ties with both Moscow and Tehran despite the war in Ukraine and tensions between Iran and the US, while calling for dialogue and diplomacy to resolve conflicts. Modi met Putin and Pezeshkian separately in New Delhi on Friday ahead of the summit.<\/p>\n India is also hoping the forum will help ease its longstanding strained ties with China. Modi and Xi are expected to hold talks later Saturday, a meeting that could help consolidate a diplomatic thaw between the two countries after border tensions escalated in 2020.<\/p>\n A key test for India will be whether it can secure a joint statement from leaders at the summit. Those divisions were evident in May, when BRICS foreign ministers failed to agree on a joint statement over the Iran war, forcing India to issue a chair\u2019s summary instead.<\/p>\n The summit convenes as fears grow that the Iran war, triggered by US-Israeli strikes on Feb. 28, may expand amid escalating tensions between Saudi Arabia and Yemen\u2019s Houthi militia. The bloc\u2019s unity under pressure is expected to be tested as its members navigate differing positions on the conflict and relations with the US.<\/p>\n<\/div>\n