BRICS began as a platform for some of the world’s fastest-growing emerging economies, but over the past two decades, the grouping has evolved into an influential organisation challenging the dominance of Western powers. India, one of its founding members, has undergone a similar transformation, moving from being questioned over its place in the bloc to playing a leading role.
Economic figures underline the shift in India’s position. Its growth rate is now higher than that of China, Russia and Brazil. In today’s episode of DNA, Rahul Sinha, Managing Editor of Zee News, conducted a detailed analysis of India’s 20-year journey within BRICS, examining how the country strengthened its economic and diplomatic position and emerged as one of the grouping’s key members. India recorded GDP growth of 7.8 per cent in the first quarter of the current financial year, making it the fastest-growing major economy in the world.
India’s position in the global GDP rankings has also improved. The change marks a sharp turnaround from the period when India’s economic growth and investment prospects were being questioned. A stronger economy and financial system have helped India consolidate its position within BRICS and increase its influence in the wider global economy. Over the years, India’s position has shifted from being viewed as the bloc’s weakest link to being regarded as one of its strongest engines of growth. Its expanding economy, growing diplomatic reach and role in shaping BRICS have strengthened its standing within the grouping.
The country was ranked 12th in 2006, while it now ranks sixth, according to the IMF.
