The BRICS summit is set to be a pivotal moment in global diplomacy, with several key developments expected to shape the future of international relations. The meeting between Indian Prime Minister Narendra Modi and Chinese President Xi Jinping will be closely watched, particularly given China's recent support for Pakistan during Operation Sindoor. This has raised concerns about India-China ties, but both leaders have expressed a desire to reset bilateral relations through initiatives such as the Kailash Mansarovar Yatra.
In this context, the BRICS summit is also expected to focus on reforming institutions like the IMF and WTO, with an emphasis on increasing representation of developing countries. Indian External Affairs Minister S. Jaishankar has clarified that India has no policy to replace the dollar.
India is pushing for comprehensive WTO reforms, calling for decisive action against non-tariff barriers and restoration of the dispute settlement mechanism. Commerce and Industry Minister Piyush Goyal has outlined India's reform agenda at a meeting of 25 WTO member countries in Paris, highlighting the importance of addressing trade distortions and strengthening multilateral governance.
The upcoming ministerial conference is seen as a crucial opportunity to prevent the WTO from becoming a failed institution. The BRICS summit will also explore SCO cooperation, which could further strengthen ties between India and China.