At the 18th BRICS Summit in New Delhi, Prime Minister Narendra Modi
GS2Polity · Governance · IR· Regional & global groupings (QUAD, BRICS, SCO, G20...)· Prelims + Mains·
De-dollarization and global governance: a key GS2 topic on South-South cooperation and multipolarity.
Why in news
Prime Minister Narendra Modi chaired the 18th BRICS Summit in New Delhi where member states unanimously adopted the 2026 BRICS New Delhi Declaration.
Background
The summit included eleven full member states, including Russia and China. Key agenda items involved economic reforms, reducing dependence on the US dollar, and restructuring international institutions to increase the voice of developing economies.
Facts for Prelims
- FactThe 18th BRICS Summit was hosted in New Delhi.
- FactThe summit included eleven full member states including Russia and China.
- FactThe 2026 BRICS New Delhi Declaration was adopted unanimously by member states.
Prelims practice question
Which document was unanimously adopted by member states during the 18th BRICS Summit in New Delhi?
- (a)Shanghai Cooperation Pact
- (b)2026 BRICS New Delhi Declaration
- (c)Global South Charter
- (d)G20 New Delhi Accord
Show answer
Answer: (b) 2026 BRICS New Delhi Declaration — The note states that member states unanimously adopted the 2026 BRICS New Delhi Declaration during the summit.
For Mains
Q. Discuss the significance of the BRICS New Delhi Declaration in restructuring international institutions and reducing global dependence on the US dollar.
Dimensions to cover in your answer
- Institutional reform: Addressing the disproportionate influence of developed nations in global financial governance
- De-dollarization: Exploring the feasibility of alternative payment systems for developing economies
- Geopolitical shift: Balancing the interests of the Global South amidst Ukraine and West Asia conflicts
Keywords: Global South · De-dollarization · Multilateralism · Institutional Reform · Economic Sovereignty
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