10th BRICS policy planning dialogue in Brasilia lays groundwork for upcoming summit

New Delhi, Mar 26: The 10th BRICS Policy Planning Dialogue was held on 24-25 March 2025 in Brasilia, bringing together policy planners from Brazil, Russia, India, China and South Africa alongside senior representatives from the expanded BRICS membership. Raghuram S, Joint Secretary (Policy Planning & Research), MEA, led the Indian delegation. The 10th BRICS Policy Planning Dialogue also discussed and set the stage for the forthcoming BRICS Summit later this year.

The MEA press release said that the meeting also brought together policy planners reflecting the bloc’s growing influence in global affairs and covered a wide range of geopolitical and economic issues, reinforcing BRICS’ commitment to strengthening multilateralism, fostering South-South cooperation, and advocating for reforms in global governance institutions.

Key discussions focused on institutional development following the bloc’s recent expansion, along with critical policy areas such as global health cooperation, international trade and financial stability, climate action, artificial intelligence governance, and the reform of multilateral peace and security frameworks.

This year’s BRICS Policy Planning Dialogue takes on added significance amid heightened geopolitical tensions, particularly following recent comments from US President Donald Trump criticising BRICS and warning against any efforts to introduce an alternative global reserve currency. The US has expressed concerns that BRICS, with its increasing economic clout, may challenge the dominance of the US dollar in global trade and finance. Washington has particularly taken issue with discussions surrounding a potential BRICS-backed currency, which some analysts argue could reshape the global financial order by reducing dependence on Western financial institutions.

China and Russia have been particularly vocal about de-dollarisation efforts, advocating for the greater use of national currencies in trade settlements.

With an expanded membership that now includes major oil-producing nations and emerging market economies, BRICS is positioning itself as a counterweight to Western-led economic frameworks. The group’s recent discussions on trade and financial policies highlight its ambition to play a greater role in shaping global economic norms. The New Development Bank (NDB), the BRICS-led financial institution, is already extending its influence by funding infrastructure projects across developing nations without the stringent conditions often imposed by Western financial institutions such as the IMF and World Bank.

Additionally, climate action and artificial intelligence governance were prominent on the agenda, with member states seeking common ground on sustainable development and the regulation of emerging technologies. Considering growing concerns over AI’s impact on global labour markets and digital sovereignty, BRICS countries are keen to establish cooperative mechanisms to shape AI governance frameworks. The upcoming BRICS Summit later this year is expected to solidify further the bloc’s strategic direction, particularly regarding financial cooperation, trade mechanisms, and geopolitical realignments. While the U.S. and its allies remain wary of BRICS’s rising influence, the group continues to assert its role as a key player in an increasingly multipolar world order.

As global tensions persist, BRICS finds itself at a crossroads—whether to deepen its economic integration and challenge Western financial hegemony or adopt a more balanced approach that maintains engagement with existing global financial structures. The choices made in the coming months could significantly shape the future of international economic governance.

Discussions were held on a wide range of global geopolitical issues as well as regional developments. The Dialogue provided an opportunity to deliberate on the institutional development of BRICS, reflecting the bloc’s recent expansion. Key development priorities, including global health cooperation, the evolving international trade and financial scenario, climate action, artificial intelligence governance, and reforms of multilateral peace and security frameworks were also discussed.