Why BRICS? Jaishankar’s sharp retort: ‘Because you won’t let us into G7 club’

Source: Hindustan Times | Original Published At: 2024-09-12 17:22:17 UTC

Key Points

• Jaishankar defends BRICS as a necessary counterbalance to exclusive groups like the G7.
• BRICS expansion in 2024 included Iran, Saudi Arabia, Egypt, UAE, and Ethiopia.
• Jaishankar highlights BRICS' organic growth and diversity compared to traditional blocs.
• Criticism of BRICS stems from insecurity among developed nations, according to Jaishankar.

External affairs minister S Jaishankar on Thursday dismissed arguments that BRICS is unnecessary, and said he was amazed by the insecurity felt by developed nations about the group, which includes China, Russia, and other six countries.

Speaking at the Global Centre for Security Policy in Switzerland’s Geneva, Jaishankar said if the G7 can exist alongside the G20, there is no reason why BRICS cannot.

“Why the club? Because there was another club! It was called the G7 and you will not let anybody else into that club. So, we go and form our own club,” Jaishankar said in the conversation with French ambassador Jean-David Levitte.

He questioned why there is opposition to BRICS, especially when groups like the G7 continue to exist alongside the G20. Jaishankar said if the G7, a group of advanced economies, can remain intact despite the presence of the G20, then BRICS, a coalition of emerging economies, should also be allowed to exist.

“I’m still struck by how insecure the North is when you speak about the BRICS. Somehow, something seems to get under people’s skin,” he added.

BRICS, which represents 27% of global GDP, was initially formed by Brazil, Russia, India, and China, with South Africa joining later. In January 2024, five more nations—Iran, Saudi Arabia, Egypt, UAE, and Ethiopia—became members, expanding the bloc’s influence.

EAM Jaishankar said that BRICS has grown organically as countries recognized its value. Unlike other groups that may have geographical or historical ties, BRICS is unique in its diversity.

BRICS gained “the life of its own over a period of time” as others saw value in it as well, he said.

“It’s actually a very interesting group, because, if you look at it, typically, any club or any group has either a geographical contiguity or some common historical experience, or, you know, very strong economic connect,” EAM added.