| ID | 140022 |
| Title Proper | India, BRICS and the world economy |
| Language | ENG |
| Author | Sinha, Dilip |
| Summary / Abstract (Note) | BRICS is not an organised coalition seeking to create its own international order. It lacks adequate homogeneity and shared ideology for that. It is a pressure group of countries which want to be included in the decision-making forums of the international financial system. They feel that they have earned their place, and their credentials must be recognised. The slowdown in the growth rate in all BRICS countries, except India, has prompted many western experts to predict its demise. This appears to be an expression of desire rather than the result of objective analysis. The future shape of BRICS will depend on how the high priests of the present order react to their legitimate demands. What began as a prescient tip of a farsighted investment banker may either result in the reorganization of the existing system or lead to the setting up of a rival structure. The world would be better off in both eventualities |
| `In' analytical Note | Indian Foreign Affairs Journals Vol. 10, No.2; Jun 2015: p.160-173 |
| Journal Source | Indian Foreign Affairs Journals 2015-06 10, 2 |
| Key Words | World Economy ; India ; Washington Consensus ; G-20 ; International Financial Architecture ; New Development Bank ; Rival Structure ; Reserve Arrangement ; BRICS |