News
BRICS Strengthens Global South As Emerging Economies Push For Greater Global Influence
The BRICS cooperation mechanism is opening new avenues for economic growth, technological advancement and stronger representation of the Global South as the grouping enters a new phase of expansion.
Founded in 2006, BRICS has grown significantly over the past two decades through successive rounds of enlargement, bringing greater economic and demographic weight to a platform that promotes cooperation among emerging and developing economies.
With BRICS leaders set to meet in New Delhi, India, the grouping is increasingly becoming an important platform for emerging economies to coordinate their interests amid rising protectionism, economic fragmentation and changes in the global economic order.
BRICS members now account for about 40 per cent of global GDP at purchasing power parity and nearly half of the world’s population. Data released by UN Trade and Development in March showed that intra-BRICS merchandise trade has grown more than 13-fold since 2003, reaching $1.17 trillion in exports in 2024.
The growing influence of BRICS is also reflected in its expanding development agenda.
Cooperation now covers infrastructure, renewable energy, digital transformation, scientific research, advanced manufacturing and other sectors critical to developing economies.
At the centre of its development financing efforts is the New Development Bank, which has approved $42.9 billion for 140 projects as of the end of the first quarter of 2026.
The bank’s financing has supported infrastructure, clean energy and digital transformation projects, providing developing countries with additional options for funding long-term development priorities.
BRICS is also seeking to accelerate technological and industrial development through initiatives such as the BRICS Partnership on New Industrial Revolution Innovation Center in Xiamen.
Established in 2020, the centre facilitates cooperation in digitalisation, advanced manufacturing and technological innovation.
According to the commentary, these initiatives demonstrate that BRICS is not only seeking to amplify the voice of the Global South but is also creating practical mechanisms through which developing countries can access finance, technology and partnerships.
China, a founding member of BRICS, has continued to support expanded cooperation and broader participation within the grouping.
The commentary dismissed claims that BRICS is primarily designed as a rival bloc to the West, arguing that its stated principles of openness, inclusiveness and mutual benefit distinguish it from exclusive geopolitical groupings.
As BRICS marks 20 years of cooperation, the grouping is now looking towards what has been described as its third “golden decade,” with its expanded membership and wider areas of cooperation expected to further strengthen solidarity among developing countries.
The emerging direction of BRICS, the commentary said, could contribute to a more representative global governance system and a more inclusive form of economic globalisation, while giving the Global South greater space to shape its own development priorities.