Turning economic cooperation into shared prosperity
Topic – GS2: International Relations – BRICS, Global South and India-UAE Relations
Key points:
- UAE and BRICS
- The UAE became a full BRICS member in January 2024.
- Its approach is centred on economic cooperation, connectivity and practical outcomes.
- The UAE views BRICS as a platform to strengthen multilateralism and cooperation among diverse economies.
- Diversity as an opportunity
- BRICS members differ significantly in economic structures, resources and development levels.
- This diversity can create opportunities for complementary trade, investment, technology and supply chains.
- Greater economic integration can strengthen the broader Global South.
- Focus on practical cooperation
- BRICS can strengthen the multilateral trading system, improve connectivity and promote resilient supply chains.
- The New Development Bank has approved more than $40 billion in financing for sustainable development.
- Development finance can support infrastructure, investment and long-term growth.
- India-UAE economic partnership
- The India-UAE CEPA has created a stronger framework for bilateral trade and investment.
- Non-oil bilateral trade grew by 17% in 2025 to more than $76 billion.
- Both countries aim to increase bilateral trade to $200 billion by 2032.
- Cooperation extends beyond trade to investment, innovation, education, tourism and technology.
- UAE’s connectivity advantage
- Nearly 79% of the UAE’s GDP in 2025 came from non-oil sectors.
- Its ports, airports and logistics networks connect markets across Asia, Africa and Europe.
- Strong financial institutions and an investment-friendly environment enable capital to move across markets.
- Connectivity therefore includes not only goods but also capital, knowledge, technology and talent.
- India’s BRICS opportunity
- India’s 2026 BRICS leadership provides an opportunity to focus on resilience, innovation, cooperation and sustainability.
- India can promote open markets while strengthening supply-chain resilience.
- Greater cooperation among businesses, institutions and people can make BRICS more economically meaningful.
- Way forward
- Strengthen intra-BRICS trade and investment.
- Improve logistics and digital connectivity.
- Promote resilient and diversified supply chains.
- Facilitate technology and knowledge sharing.
- Expand development finance through institutions such as the New Development Bank.
- Ensure BRICS remains an open platform rather than a closed geopolitical bloc.
Conclusion:
The effectiveness of BRICS should ultimately be measured by the economic opportunities it creates for its members and the wider Global South. Under India’s leadership, greater emphasis on connectivity, resilient supply chains, innovation and practical economic cooperation can help transform BRICS into a platform for shared prosperity.