As world leaders arrive at Bharat Mandapam in New Delhi for the BRICS summit, crucial bilateral meetings including India-Russia and India-Iran are in focus. The discussion highlights that BRICS member nations represent nearly 50 percent of the global population, 40 percent of the global GDP, and 26 percent of global trade. Key expectations from the discussions include securing smooth market access for micro, small, and medium enterprises, drafting uniform international trade standards, and settling cross-border trade in local currencies to minimise current account deficits. The dialogue also explores expanding cooperation between India and Russia across defence joint production, aerospace, fertilizers, and rare earth minerals critical for new-age industries such as semiconductors and electric vehicles. Furthermore, former diplomat Gurjit Singh notes the significant convening power demonstrated by New Delhi as key global partners gather for the multilateral deliberations.
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