By Wong Woon Shin
On Jun 27, New Delhi confirmed Modi鈥檚 attendance at the BRICS summit. According to Indian media reports, Brazil has also extended a state dinner invitation to him.
The physical absence of Xi and Putin – coupled with possible no-shows by the Iranian and Egyptian heads of state – is also expected to give other BRICS members more room to shine, Stuenkel said.
鈥(In a way, it) gives the democracies of the BRICS grouping more visibility – India, South Africa, Brazil, (and) probably Indonesia.鈥
Shifting dynamics aside, observers note the summit still provides BRICS countries the opportunity to come together and advance specific issues on their agenda.
There will likely be a 鈥渟trong focus鈥 on the reform of international institutions and climate finance, said Stuenkel, who added that Brazil is 鈥渙bviously鈥 trying to connect the BRICS summit to the COP30 climate conference, which it is hosting in November.
鈥(Also) perhaps the attempt to project BRICS as guardians of geopolitical stability in the face of an erratic America,鈥 Stuenkel said.
At the same time, familiar themes are set to be on the agenda. These include de-dollarisation – the drive to reduce reliance on the US dollar in global trade, finance and reserves – and the ongoing push to expand the bloc鈥檚 membership.
Beijing has long led calls for greater use of local currencies and has even backed proposals for a common BRICS currency. Fellow BRICS member and key strategic partner Russia has also expressed similar sentiments.
At last year鈥檚 summit in Kazan, Putin accused the US of 鈥渨eaponising鈥 the dollar.
Xi echoed those concerns, calling for 鈥渉igh-level financial security鈥 and urging reforms to the international financial architecture. He also reaffirmed China鈥檚 support for the New Development Bank, a key part of BRICS鈥 effort to build alternatives to Western-led financial institutions.