India's Strategic Leadership in BRICS 2024: Growth & Innovation

India’s active role in BRICS 2024 places it at the forefront of shaping global economic and geopolitical landscapes. As one of the fastest-growing economies in the bloc, India is set to leverage its leadership in digital innovation, sustainable development, and multilateral diplomacy. BRICS offers India a platform to champion the interests of the Global South while strengthening its strategic and economic partnerships.

As of 2024, India's participation in BRICS is evolving with a focus on several key aspects that align with its economic, geopolitical, and strategic interests.

1. Focus on Economic Recovery and Growth

• Post-Pandemic Recovery: India continues to push for joint efforts within BRICS to bolster economic recovery from the pandemic, particularly in sectors like healthcare, digital economy, and green energy. India emphasizes the need for inclusive growth, especially for developing nations.
• Sustainable Development Goals (SDGs): India is expected to highlight its progress on SDGs, promoting green growth strategies, renewable energy initiatives like the International Solar Alliance, and sustainable industrial policies.

2. Digital Transformation and Innovation

• India will likely lead discussions on digital innovation, building on its success in digital payments, fintech, and government services. India's Digital India initiative can be a model for other BRICS nations.
• Cybersecurity and data sovereignty will also be top priorities, with India advocating for responsible use of technology and data governance frameworks among BRICS countries.

3. Geopolitical Balancing

• With Russia and China being key BRICS members, India will aim to balance its strategic relationships, maintaining a pragmatic stance despite its concerns over China’s rising influence. It will continue to engage with Russia on defense and energy but may focus on multilateral diplomacy to manage the dynamics with China.
• India’s role as a bridge between the West and the Global South will be more pronounced, leveraging BRICS to engage with both sides while advocating for reforms in global governance institutions.

4. Expansion of BRICS (BRICS+)

• India is expected to engage actively in discussions around expanding BRICS membership. While it supports bringing in new members from the Global South, India remains cautious about how this expansion might shift the internal dynamics, particularly with China's influence in the group.
• India’s aim will be to ensure that any expansion strengthens the BRICS agenda of development and inclusivity rather than tilting the power balance in favor of any one member.

5. Multilateralism and Global Governance

• India will push for further reforms in global institutions such as the United Nations, IMF, and World Bank to make them more representative of the current global realities. In 2024, India may press for BRICS to have a more active role in shaping the international economic and political order.
• As part of its G20 presidency in 2023 and influence in other multilateral forums, India will aim to sync BRICS’ priorities with its wider vision of a multipolar world.

6. Climate Action and Green Economy

• India will likely advocate for a stronger BRICS stance on climate action, promoting cleaner technologies and green financing. It will emphasize the need for developed countries to fulfill their financial commitments under global climate agreements.
• With initiatives like the National Hydrogen Mission, India can share its experiences with renewable energy technologies and push for collaboration in areas like energy efficiency, carbon capture, and green energy investments.

7. BRICS New Development Bank (NDB) Leadership

• India is expected to continue promoting the New Development Bank (NDB) as a credible alternative to Western-dominated financial institutions. India's focus will be on using NDB to finance sustainable infrastructure projects, digital connectivity, and development in the Global South.
• With potential financial challenges facing some BRICS members, India may advocate for a more robust and transparent governance structure within NDB, ensuring it serves the broader interests of all BRICS members.

8. Trade and Investment Partnerships

• In 2024, India will seek to enhance trade and investment ties within BRICS, with a focus on sectors like pharmaceuticals, information technology, and agriculture. Given the geopolitical uncertainties, India may look to reduce its dependency on certain global supply chains and diversify its partnerships within BRICS.
• Trade facilitation and reducing tariffs between BRICS members are likely topics India will emphasize, aiming for greater access to markets like Brazil and South Africa.

9. BRICS as a Voice for the Global South

• India will continue to use the BRICS platform to be a strong advocate for the Global South. India sees BRICS as a forum to address challenges like food security, energy security, and access to technology for developing nations.
• India is likely to push for more BRICS initiatives that cater to the needs of smaller developing countries, ensuring BRICS doesn’t just serve the interests of larger economies like China or Russia.

10. BRICS 2024 Summit: India’s Leadership

• If India hosts or plays a leadership role in the 2024 BRICS summit, expect the agenda to focus on practical cooperation across healthcare, digital economy, climate, and geopolitical stability. India’s agenda would likely include strengthening people-to-people ties, promoting youth participation, and enhancing academic and cultural exchanges.

India in BRICS 2024 will continue to balance its role as a rising global power with its commitment to being a champion for the developing world, positioning itself as a crucial player in shaping the future of the BRICS bloc.