Publication

This brief outlines some of the reasons why the author thinks that the July 2015 BRICS summit held in Ufa, Russia was a strategic milestone in the development of a newly emerging world order. The summit 1) resulted in the Agreement on the New Development Bank and the launch of the BRICS' Contingent Reserve Arrangement, which aims to address the effects of global financial challenges; 2) outlined a position on terrorism; and 3) presented the Ufa Declaration which a) underlines the significance of joint efforts between the BRICS in coordinating positions on shared interests on global peace and security issues; and b) highlights of the importance of investment. The author also discuses the importance of the BRICS summit for India.