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BRICS And Walls

Christophe Jaffrelot |

With the benefit of hindsight, one can learn several lessons from the BRICS summit in Goa. Before this event, close observers of India’s foreign policy in general and of BRICS in particular, Samir Saran and Abhijnan Rej, had emphasised the need “for creating new and agile institutions that can help the group”. Such an objective was ambitious and the Goa meeting has allowed BRICS to work in that direction. In the final declaration, the members countries not only felicitated themselves for “the operationalisation of the New Development Bank (NDB) and of the Contingent Reserve Arrangement (CRA)”, but agreed to set up a credit agency.

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