The rapidly growing economy is commanding more and more influence
Prime Minister Narendra Modi has been unequivocal that India’s status as a powerhouse should be measured by its economy and ability to lift Indians out of poverty, a functionality of its state institutions and its military’s efforts in curbing terrorism and protecting the people. ttuned to contemporary realities, Brics has repeatedly called for governance reform in the recruitment processes of the World Bank and the IMF by ensuring selection through an open and merit-based process.
Over the years, the Brics countries have played a pivotal role in driving global economic growth. This group, consisting of major emerging economies, which have focused on political and security co-operation; economic and financial collaboration and cultural and people-to-people exchanges, has shaken the dominance of the North.
Weeks before the Brics summit in South Africa on 22 to 24 August, S&P Global has projected that India will be the fastest-growing economy in the G20 and could overtake Japan and Germany toIn the fast-changing and complex world of geopolitics, Modi has been stressing dialogue and diplomacy as the way to end the Russia-Ukraine conflict. India has also been categorical that Brics should adhere to the concept of sovereignty and territorial integrity.
Jaishankar had called for the promotion of inclusive and decentralised economic practices as essential for global political democratisation.
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