00:15Welcome back. The 18th BRICS summit has concluded in New Delhi with leaders calling for deeper global
00:21self-cooperation and greater representation in the international system. As India hands
00:26o'er the BRICS Presidency to China, the alliance enters a new phase focused on turning its
00:32agreements into concrete actions and strengthening cooperation among its expanding membership.
00:39The 18th BRICS summit has concluded. Heads of state and government leaders have begun returning
00:43to their home countries following their final meeting on Sunday, the second day of the summit.
00:48This session, the BRICS Plus, or Outreach Meeting, brought together the 11 core member states and 10
00:53partner nations to discuss actionable steps for implementing yesterday's joint declaration
00:59and deepening bilateral and multilateral cooperation.
01:05During the meeting, Chinese President Xi Jinping delivered an important statement
01:09proposing that the greater BRICS encompassing members, partner countries, and interested nations
01:14could establish an integrated internal market. He called for joint efforts to safeguard supply
01:19chains and transport corridors, building on his remarks from yesterday, where he indicated that
01:22BRICS would play a larger role and resolve the Middle East conflict stemming from the attack on Iran.
01:27President Xi emphasized that this expanded coalition could also collaborate in key sectors such as
01:32artificial intelligence, the digital economy, manufacturing, science, and development.
01:38Russian President Vladimir Putin also addressed the assembly, asserting that the global south must
01:42establish an insurance mechanism to shield countries against sanctions like those targeting Russia and Iran.
01:49Iranian President Massoud Pazeshkin had presented a similar proposal yesterday. While Putin did not
01:55detail the exact mechanics, he stressed the need to protect national economies from sanction-related
01:59damages, a clear reference to ongoing initiatives aimed at developing payment systems independent of
02:04SWIFT and the US dollar. Additionally, Putin argued that the global south needs to build its own global
02:10governance structures to counter both traditional and non-traditional threats, noting that Russia faces a
02:14Western-supported conflict in Ukraine while Iran and other nations confront serious external risks.
02:19As host of the summit, Indian Prime Minister Narendra Modi delivered the closing remarks. He called for
02:25a fundamental overhaul of the global power structure, comparing the current system to a pyramid where
02:29a select few at the top make decisions while the global south is forced to comply. Modi urged global south
02:34nations to transition from rule followers to rule shapers. He emphasized that the BRICS alliance must become more
02:40execution-oriented, ensuring that decisions are implemented in a timely, planned manner with direct,
02:45tangible benefits for citizens. India proposed a society-centric model of integration focused on
02:51business-to-business and people-to-people connections beyond the purely governmental level,
02:55an approach strongly endorsed by members like South Africa. South African President Cyril Ramaphosa highlighted
03:01the consensus achieved in the final declaration as a major victory, given the conflicting stances among
03:06members regarding the attack on Iran. While the United Arab Emirates and Iran hold opposing positions
03:11in the conflict, both BRICS members agreed on a unified statement. Furthermore, Indian diplomacy
03:16successfully brought leaders from both nations to the same table in New Delhi for the first time since
03:20the conflict began. While the long-term impact of this diplomatic breakthrough remains to be seen,
03:25it is widely regarded as a significant achievement of India's chairmanship. With the conclusion of this
03:29summit, India formally hands over the annual presidency of BRICS to the People's Republic of China.
03:34The work of the alliance continues year-round through dozens of ministerial meetings and
03:38intergovernmental networks, which will now be guided under Chinese leadership until the next heads of
03:43state summit. Overall, the atmosphere in New Delhi is one of optimism. The Global South has once again
03:48raised its voice for a more inclusive international system, an egalitarian economic structure, and greater
03:53representation in global institutions while actively negotiating deeper internal integration.
03:58With President Xi Jinping signaling concrete developments ahead, the incoming Chinese presidency will be
04:03decisive for the alliance's trajectory.
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