New Delhi. The influence of BRICS in world politics and economy is continuously increasing. Big countries like India, China and Russia have an important role in this. The group's growing scope and economic power has sparked a new debate about the global balance of power. However, it is too early to directly call this the end of American supremacy.
Why is BRICS important?
The biggest basis of BRICS' strength is the large economies, huge population and natural resources of its member countries. The group is trying to increase economic cooperation, ease trade and strengthen the voice of developing countries in international forums.
India's role is important
India has emerged as an important power in BRICS. New Delhi has been continuously emphasizing the interests of developing countries, the need for economic cooperation and reform of global institutions. For India, BRICS is also a platform where it can pursue its interests while maintaining balance in its relations with Western countries and other emerging powers.
Dollar option also discussed
Issues such as increasing trade in local currencies and simplifying cross-border payments have been under discussion among the BRICS countries. Its purpose is to make business more convenient. However, eliminating the global role of the US dollar immediately is not easy and will require a long economic process.
Is the world order really changing?
The growing influence of BRICS is certainly a factor towards making the world more multipolar. But the interests of the member countries of the group are not the same on every issue. Therefore, it would be more correct to see it primarily as a platform for economic and diplomatic cooperation rather than as a united military or political alliance.
In the coming years, BRICS's economic activities, participation of new countries and mutual trade may play an important role in deciding which direction the global balance of power moves. However, the influence of BRICS is definitely challenging American dominance.