Why in the News?

Gathering in Rio de Janeiro on July 6–7, leaders of Brazil, Russia, India, China, and South Africa adopted the BRICS Rio Declaration 2025 — marking a decisive shift in the bloc’s evolution.

About the Rio Declaration (2025):

• Overview: Adopted at the XVII BRICS Summit in Rio de Janeiro (July 6–7, 2025), the Rio Declaration reflects BRICS’s push for a more inclusive and multipolar global order.
• Call for reform: It calls for reforms in global institutions like the UN Security Council, IMF, and World Bank to give a greater voice to the Global South.
• Focus: It emphasized sovereign equality, sustainable development, digital cooperation, and solidarity among emerging economies.
• Expansion: BRICS welcomed Thailand as a full member and acknowledged 10 new partner countries, including Belarus, Nigeria, Cuba, and Vietnam, signalling broader representation.

Key Highlights of the Declaration:

• Global Reform Push: Demands reform of UN, IMF, Bretton Woods institutions for fairer representation of emerging economies.
• Climate Finance: Endorses Brazil’s Tropical Forests Forever Facility and calls on developed nations to fund just transitions.
• AI Governance: Supports a global framework aligned with national rules and UN Charter principles.
• Health Equity: Launched BRICS Partnership on Socially Determined Diseases to address poverty-linked health disparities.
• Economic Sovereignty: Push for local currency trade, non-dollar payment systems, and strengthening the New Development Bank.
• Security Commitment: Zero tolerance for terrorism, including cross-border support and financing.
• Digital Inclusion: Focus on women’s digital access, AI cooperation, and green technologies.
• India’s Role: Led initiatives on science collaboration, digital public goods, and proposed reforms for 2026 BRICS leadership.

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