BRICS

India's trade with BRICS countries surged over five years, with imports growing significantly faster than exports. This has led to a near doubling of India's trade deficit with the bloc, now reaching $224 billion, primarily driven by increased purchases from Russia and China.

Russian President Vladimir Putin will attend the BRICS summit in New Delhi on September 12-13. Kremlin aide Yury Ushakov confirmed his participation in the national capital. This visit marks a significant diplomatic event for India amidst global geopolitical shifts and growing BRICS collaboration. Details on his schedule are anticipated.

Adopt Alternative Dispute Resolution Declaration To Ease Court Burden

BRICS foreign ministers are struggling to agree on a joint statement concerning West Asia. Tensions flared between the UAE and Iran during the meeting. Iran accused the UAE of direct involvement in aggression. India's External Affairs Minister stressed the importance of consensus for new members. The outcome of the meeting remains uncertain.

Russian Foreign Minister Sergey Lavrov suggested India could play a long-term diplomatic role in mediating US-Iran tensions, while Pakistan facilitates immediate dialogue. Lavrov highlighted India's diplomatic experience and global standing, noting its direct stake in West Asian stability and energy security.

Iran accused the UAE of direct military involvement in attacks against Tehran during a BRICS meeting, escalating tensions. Tehran claims Abu Dhabi facilitated aggression and warned of retaliation against facilities aiding US or Israeli operations. This dispute complicates efforts to finalize a joint BRICS communique.

India's External Affairs Minister S. Jaishankar urged BRICS nations to find practical solutions to geopolitical crises, emphasizing the threat to global energy and economic security from West Asian tensions. He stressed dialogue, diplomacy, and respect for sovereignty, while also highlighting concerns over unilateral sanctions, terrorism, and the need for UN Security Council reform.

External Affairs Minister S Jaishankar will host his Iranian counterpart for bilateral talks focusing on energy and connectivity concerns, including stranded LPG tankers and Chabahar port operations. This meeting, occurring during the BRICS foreign ministers' gathering, aims to address regional conflicts and foster cooperation among member states.

But another Iran-US flare-up could hit plan

External Affairs Minister S Jaishankar criticized "unilateral coercive measures" and sanctions, stating they disproportionately harm developing nations and cannot replace diplomacy. He also voiced concern over the West Asia crisis, emphasizing the need for uninterrupted maritime traffic and a sustained ceasefire in Gaza, advocating for a two-state solution.

India is set to host a crucial Quadrilateral Security Dialogue (Quad) meeting, with US Secretary of State Marco Rubio expected to attend. This high-level gathering, involving India, the US, Japan, and Australia, is seen as a strategic move to counter China's influence in the Indo-Pacific. The meeting will likely address critical mineral supply chains and regional security concerns.

The CEA’s words could not be more direct and the situation the world’s sixth largest economy faces is by no means small. Several macroeconomic indicators are in focus; inflation, health of the current account, and the exchange rate.

Iran's foreign minister Abbas Araghchi claimeed that Tehran has received new messages from the US expressing a desire to continue talks, despite earlier public rejections. Araghchi stated that while Iran lacks trust in American intentions, they are working to preserve a fragile ceasefire to allow diplomacy a chance, emphasizing that military pressure has proven ineffective.

India is preparing to send ships through the Strait of Hormuz to secure vital crude oil and energy cargoes amid ongoing disruptions. The government is finalizing plans for Indian vessels to navigate the waterway, which handles a significant portion of global oil flows, as shipping activity has slowed due to the Iran conflict.