The Rise of BRICS: A New Foundation for a Multipolar World

Editorial

The global political and economic power structure is changing rapidly. The international order, which for a long time operated under the influence of a limited number of power centres, is now moving towards a multipolar direction. BRICS is increasingly establishing itself as an important expression of this transformation. The 18th BRICS Summit, to be held in 2026 under India’s chairmanship, is expected to make this journey more institutionalised, inclusive and results-oriented. India has prioritised resilience, innovation, cooperation and sustainability as the core themes of its chairmanship.

It is no longer sufficient to understand BRICS merely as the original grouping of Brazil, Russia, India, China and South Africa. With its expansion, important countries from Asia, Africa, the Middle East and other emerging regions have joined this structure. This has made BRICS a major voice for the world’s developing and emerging economies. Despite differences in political systems and national priorities, the desire for equality, development, sovereignty, mutual respect and shared prosperity has brought the member states together.

The importance of BRICS does not lie in forming a bloc against any country or group. Its real significance is in providing the international community with more options. The developing world still does not have adequate representation in international financial institutions, trade structures and political decision-making processes. As the real character of the global economy has already changed, it is only natural and necessary for the structure of international institutions to evolve accordingly. BRICS has given a collective voice to this demand for reform.

Economic cooperation is another strong foundation of BRICS. Its cooperation has expanded into trade, finance, energy, agriculture, science and technology, health, education, environment and disaster management. The New Development Bank has created additional financing options for infrastructure and sustainable development in developing economies. If efforts to promote transactions in national currencies, simplify payment systems and expand trade connectivity among member states succeed, the global economy could become more balanced and secure.

For Nepal, the growing influence of BRICS is a matter of particular importance. Nepal’s two giant neighbours, China and India, are major powers within this structure. Russia, another important friend of Nepal, is also a founding member. It is therefore natural that economic, political and development-related decisions taken within BRICS will have an impact on the regional environment surrounding Nepal. The time has come for Nepal not merely to observe this transformation from a distance, but to study it carefully from the perspective of its national interest.

Nepal requires substantial investment and technology in infrastructure, energy, agricultural modernisation, information technology, tourism, health, disaster management and climate security. There is considerable scope for Nepal to expand cooperation with BRICS countries in all these areas. In particular, the growing frequency of natural disasters in the Himalayan region has clearly demonstrated the need for deeper cooperation among Nepal, China and India in weather information, river-flow studies, early warning systems, rescue technology and disaster-resilient infrastructure. Knowledge and technologies developed through mechanisms such as BRICS could also prove useful for Nepal.

The future of BRICS will not be determined by its size alone. Its influence will depend on trust among member states, concrete economic cooperation, the real needs of developing countries and commitment to international peace. If BRICS succeeds in translating equality, respect for sovereignty, shared development and multilateral cooperation into practice, it will not remain merely an organisation. It will become an important foundation of the changing world order.

For small and developing countries such as Nepal, the greatest benefit of a multipolar world is the expansion of choices. More choices increase diplomatic freedom. Sources of development expand. Areas of partnership become broader. Nepal should therefore view the rise of BRICS not through the lens of competition, but as a new possibility for opportunity, balance and shared prosperity.