2025 BRICS Summit

The 2025 BRICS Summit in Rio de Janeiro, attended by Prime Minister Narendra Modi, was held on July 6-7, 2025. Speaking on the eve of the summit, President Luiz Inacio Lula da Silva of Brazil said, “We need to create a new trade currency to get rid of dependence on the US dollar.

Earlier, at the BRICS Business Council, Russia’s Finance Minister Anton Siluanov spoke of the ‘New Development Bank (NDB) becoming BRICS' cross-border settlement hub (alternative to SWIFT), providing loan guarantees for mega-infrastructure projects all across the BRICS sphere, with all BRICS members ratifying the move. One comment on this link reads: “What about India, I don’t trust them”. 

Addressing the BRICS Summit via video-link, Russian President Vladimir Putin strongly advocated the need for de-dollarization, as well as mentioning BRICS has much bigger GDP than G7. Sergey Lavrov, Russian Foreign Minister leading the Russian delegation to the Summit said: “Russia has issued an initiative to create within BRICS a new investment platform... to turn it into an innovative instrument for development that would not be affected by outside agendas". This signalled the end of IMF blackmail, dollar hegemony and Western veto power. 

Malaysian Prime Minister Anwar Ibrahim congratulated President Lula for his clear vision, saying instead of talking of unilateral actions and protectionism, BRICS should focus on collaboration of government, business and civil society. He termed the Summit a historic turning point in the unfinished struggle for post-colonial justice.

Prime Minister Modi posted on X: “With fellow BRICS leaders at the Summit in Rio de Janeiro, Brazil, reaffirming our commitment to closer cooperation and shared growth.
BRICS holds immense potential to shape a more inclusive and equitable global future". Modi’s teleprompter malfunctioned as he began to address the summit (a phenomenon that has become periodic), raising speculation of Chinese sabotage.

The Rio Declaration titled ‘Strengthening Global South Cooperation for a More Inclusive and Sustainable Governance’, issued on July 6, 2025, covered a whole range of issues, some of which are as under:

• Reaffirmed commitment to strengthen cooperation in the expanded BRICS under the three pillars of political and security, economic and financial, cultural and people-to-people cooperation.
• Welcomes Belarus, Bolivia, Kazakhstan, Cuba, Nigeria, Malaysia, Thailand, Vietnam, Uganda, Uzbekistan as BRICS partner countries.
• Support for a comprehensive reform of the UN, support to UNGA, IMF and WB, and serious concern over unilateral tariff, non-tariff measures and non-UNSC authorized sanctions.
• Condemn military strikes against Iran on June 13, 2025; in violation of international law and the UN Charter.
• Grave concern over the Occupied Palestinian Territory, with the resumption of continuous Israeli attacks against Gaza and obstruction of the entry of humanitarian aid into the territory.
• Strong condemnation of terrorism and terrorist attack in J&K on April 22, 2025, demanding those involved must be brought to justice, ensuring zero tolerance towards terrorism and rejecting double standards in countering terrorism.
• Strategy for BRICS Economic Partnership 2030 to consolidate mandates and guiding principles for cooperation on issues relating to the Multilateral Trading System, Digital Economy, International Trade, Financial Cooperation and Trade and Sustainable Development.
• Growing role of New Development Bank (NDB), continuing discussion on New Investment Platform (NIP), establishment of BRICS Multilateral Guarantees (BMG) initiative, and. incubating BMG within NDB.
• BRICS Interbank Cooperation Mechanism (ICM) to find acceptable mechanisms of financing in local currencies.
• Full support to India for its BRICS Chairmanship in 2026 and the holding of the XVIII BRICS Summit in India.

The Indian media is euphoric that the Rio Declaration strongly condemned the terrorist attack in J&K on April 22, killing 26 innocents, demanded all involved be brought to justice, as well as ensuring zero tolerance towards terrorism and rejecting double standards in countering terrorism. Headlines in mainstream Indian media read “India was confident of Pahalgam massacre”, “BRICS backs India line on terror & UNSC reforms, slams tariffs”, and the like. But the whole world (barring few like China, Pakistan, Turkey etc) condemned the Pahalgam massacre and asked for those responsible to be brought to justice – yet no one blamed Pakistan. This was also the case when India sent out multiple delegations abroad albeit none to SCO countries. Same was the result during numerous foreign jaunts of EAM S Jaishankar.

The real triumph for India in the Rio Declaration would have been if Pakistan was named for the Pahalgam massacre, especially with Iran and Palestine named although in different contexts. However, expecting this is perhaps too much when Defence Minister Rajnath Singh attending the recent SCO summit in Beijing, as also NSA Ajit Doval visiting Beijing failed to name Pakistan. But do we realize why a terrorist country like Pakistan presently holds the presidency of the UNSC?   

The Rio Declaration is not signed, but is India in consonance with what all is mentioned therein? The grouping is sincere about de-dollarization, expanded role of the New Development Bank (NDB) and alternative to the SWIFT System. But India, having supported de-dollarization earlier, made a sudden U-turn last year, fearing US tariffs. Again, the Rio Declaration condemns military strikes against Iran on June 13, 2025, violating international law and the UN Charter, as well as expressing grave concern over the Occupied Palestinian Territory, with the resumption of continuous Israeli attacks against Gaza and obstruction of the entry of humanitarian aid into the territory. But India abstained from the UNSC vote on the ceasefire in Gaza, as also distanced from the SCO Statement condemning Israeli strikes on Iran.

Social media accredits our duplicitous foreign policy to Jaishankar, who as India’s ambassador to the US managed to revoke the ban on Modi visiting America because of the Godhra riots, and who was appointed External Affairs Minister (EAM) within a short span of retiring as foreign secretary. It is being said that Jaishankar is behind Modi getting the “Highest Civilian Award” in 25-odd countries. This could be true with Jaishankar sending a simple missive to our missions abroad having unlimited funds (perhaps more than R&AW); who foot all expenses of politicians/political delegations visiting abroad, even personal purchases they make.

Smart diplomats grab opportunities. Our mission in Tokyo has a minister-level officer from the economic ministry. One ambassador would offer buffet lunch for Indian economic delegations and Japanese invitees, pay the bill himself and pocket many times more money from the economic ministry funds. He owned an apartment in Manhattan (New York) 31 years back and boasted he could have 20 bank accounts abroad, with no one knowing. But, if Jaishankar has/is arranging the Highest Civilian Award for Modi, he should have also arranged a headgear (preferably tribal), which Modi loves. Of all the memes of Modi on social media, the most amusing is him dressed as a North Korean General, with his front full of medals.    

The POTUS Donal Trump has threatened 10% additional tariffs on countries aligning with BRICS’ anti-US policies, “without exception”. But President Lula in his closing remarks at the BRICS Summit said, "We don't want an emperor, we are sovereign countries. It's not right for a president of a country the size of the United States to threaten the world online." India as usual has nothing to say, with India looking for the USD 500 billion India-US trade agreed between Modi and Trump, and Piyush Goyal, Minister of industry and Supply announcing no trade with ASEAN countries! Why and for how long will India continue with such duplicity, having become a nonentity at SCO and questionable antics in BRICS?

The irony is that duplicity and ambiguity in India is all pervasive, not limited to foreign policy alone. For example, the government can’t stop raving about India having become the third largest economy in the world. But Nitin Gadkari, Union Minister of Road Transport & Highways, referring to the economic policies, has said, “Nowadays poor are getting poorer & few rich people are getting all the wealth in this country” – exact opposite of Modi’s slogan of Sabka Saath, Sabka Vikas

But Gadkari himself has a lot of answering to do, with newly constructed National Highways (NH) developing cracks, potholes and sinking, the latest one being a large portion of the newly constructed NH-66 in Kerala collapsing, washing away hundreds of crores spent on it.

So, how many contractors did Gadkari arrest in these massive scams? All this is concurrent to news that some individuals, included a contractor, have built 24-carat gold plated villas in India  (https://timesofindia.indiatimes.com/india/house-of-gold-indore-contractors-24-carat-gold-plated-villa-draws-fire-online-triggers-misuse-of-funds-debate/articleshow/122252870.cms). The tragedy is the common Indian caught in this web of deceit.

The author is an Indian Army veteran. Views expressed are personal.