Leaders of the BRICS nations are meeting in New Delhi on Saturday for a summit focused on trade, investment and global conflicts, as the bloc seeks a bigger role in shaping the global agenda for emerging and developing countries.Indian Prime Minister Narendra Modi is hosting Russian President Vladimir Putin, Chinese President Xi Jinping, Iranian President Masoud Pezeshkian and counterparts from the other eight BRICS members.The summit comes as wars in Ukraine and the Middle East, along with rising U.S.-China tensions, test the bloc's ability to find common ground among countries with competing geopolitical interests.Thousands of police and paramilitary personnel were deployed around the summit venue and other parts of New Delhi, with traffic restrictions and diversions in place.BRICS was founded in 2006 by Brazil, Russia, India and China, with South Africa joining in 2010.
It has since expanded to 11 members, representing about half the world's population and a significant share of global economic output.The group has increasingly called for greater representation for developing countries in global institutions.The leaders are expected to discuss economic cooperation, energy, food security, technology, supply chains and reforms to global institutions.
Reducing reliance on the U.S.dollar will also be a priority, with members promoting greater use of their own currencies in trade and payments, as well as pushing for alternatives to Western-dominated financial institutions.China and Russia see BRICS as a way to reduce Western dominance, particularly that of the United States, while strengthening cooperation among emerging and developing economies.Putin, in a speech at the BRICS Business Forum in New Delhi on Friday, said the grouping was not against anyone and Moscow was open to cooperation with countries around the world"We are in favor of our interests," he said.Iran has also pushed for mechanisms that could reduce the bloc's reliance on Western financial systems ...