External Affairs Minister S Jaishankar on Thursday rejected the argument that there was no need for “another club” called BRICS. He said he was pained by the “insecurity” in the developed world about the grouping.
Speaking with Ambassador Jean-David Levitt at the Global Centre for Security Policy, a think tank here, Jaishankar said if the G-7 can exist in the presence of the G-20, there is no reason why the BRICS cannot exist.
BRICS, which contributes 27 per cent to the global gross domestic product (GDP), was founded by Brazil, Russia, India and China.
South Africa later joined, and in January 2024 five new countries – Iran, Saudi Arabia, Egypt, UAE and Ethiopia – joined the grouping. “Why club? Because there was another club! It was called G7 and you wouldn’t let anyone else into that club. So, we go and make our own club,” Jaishankar said to loud applause from the audience.
“I am still amazed at how insecure the North becomes when you talk about BRICS,” he said.
Somehow, something stirs in people’s hearts.” “Here’s a thought. There is the G-20, has the G-7 been dissolved? Has its meetings stopped? No, it is still going on,” he said to thunderous applause.
So, there is G-20, and G-7 still exists. Then, why can’t there be G-20 and why can’t there be BRICS as well?”
Jaishankar explained how BRICS started and how it gained importance over time as others also saw the value in it.
“It’s actually a very interesting group, because, if you look at it, usually, any club or any group has either geographical proximity or some common historical experience, or, you know, a very strong economic connection,” he said.
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