Prime

when

Observer

Pakistan is making its intentions clear. It wants in on BRICS, the international bloc designed to counter Western-dominated institutions. 
Russia is backing this decision, raising concerns in India. The big fear is that Pakistan’s entry could give China even more power within the group, at India’s expense. 
It’s a risky play, but Pakistan isn’t backing down. Russia’s Deputy Prime Minister Alexei Overchuk said: 
<blockquote>
 “We are glad that Pakistan has applied. We will support this.”
</blockquote> 
He made the statement in Islamabad after a meeting with Pakistan’s Finance Minister Ishaq Dar. 
<h3 id="span-style-font-weight-400-brics-expansion-span">BRICS’ expansion</h3> 
Abhishek Sharma from the Observer Research Foundation, a think tank in Delhi, said it’s unlikely India will back Pakistan’s entry anytime soon, if ever. 
It is widely known that any new BRICS member must have strong ties with all existing members or substantial trade with them. Pakistan doesn’t fit that bill. 
BRICS was created in 2006 by Brazil, Russia, India, and China. South Africa joined later in 2010. More recently, Egypt, Iran, the UAE, Saudi Arabia, and Ethiopia were granted membership. 
So far, India’s focus has been on expanding its Global South initiatives, winning support from Western countries like the U.S., Germany, and Italy. 
China has a close relationship with Pakistan, and it led the charge for expansion when it chaired BRICS in 2022. 
<h3 id="span-style-font-weight-400-india-sees-pakistan-s-entry-as-a-threat-span">India sees Pakistan’s entry as a threat</h3> 
BRICS holds serious weight globally. The original five BRICS nations represent 40% of the world’s population and control 31.5% of global GDP. 
For comparison, the G7’s share is slightly lower at 30.7%. So, adding new members is a big deal. More than 40 countries have shown interest in joining BRICS this year. Pakistan officially applied in November 2023. 
Under BRICS rules, membership decisions must be unanimous. That means if India objects, Pakistan’s approval will stall. India doesn’t want to support anything that might boost China’s position, especially within BRICS, where China is already a dominant force. 
Pakistan is fully aware of the challenges ahead but remains determined. Russia will host the next summit in Kazan from October 22 to 24. 
As the current BRICS president, president Vlad Putin is expected to focus on expanding partnerships in areas like politics, security, economics, and culture. 
Officials have said they want the bloc to continue growing, both in size and influence. Yury Ushakov, a top aide to Putin, told state media that de-dollarization and expansion will be a top priority during the summit.

Pakistan pushes forward with mission to join BRICS, defying India

Table of Contents

Cryptopolitan_News

Other articles published on Oct 7, 2024

Crypto Whale Takes Major Hit on $EIGEN Trade: A Lesson for Investors

Best Cryptocurrencies to Invest in Right Now October 6 – Pendle, Celo, Fantom

Experts Set Ambitious Goals for TAO Coin

Bitcoin: Monitor The Key Figures Of This Week!

How To Pick the Best Crypto Staking Platform: Top 10 for 2024

Treasure DAO Announces New Testnet 'Topaz' in Migration to ZKsync

Join our free newsletter for daily crypto updates!