During the BRICS summit in New Delhi on Saturday, leaders adopted the New Delhi Declaration. Prime Minister Narendra Modi presented the consensus document, marking a significant development for the bloc.
“The New Delhi Declaration adopted today provides a clear direction for our shared resolve. The declaration stated intra-BRICS trade should increasingly be conducted in local currencies rather than the US dollar. “We also emphasised that the Global South must have equal participation in the development of future technologies and the rules governing them. It is now our responsibility to translate these resolutions into tangible results,” he added.
The declaration called for reforms of multilateral institutions, including a “structural update” of the United Nations Security Council (UNSC), and strongly condemned terrorism. It also denounced “unilateral acts of war” and stressed the need to ensure safety of seafarers and commercial navigation amid the ongoing military aggression in the Middle East. “Today’s discussion makes it evident that the changing world cannot be steered by outdated institutions; reforms are essential in representation, responsiveness and rule-making,” PM Modi said in his concluding remarks.
