BRICS Can Lead the World with New Initiatives, Says Senior Indian Analyst

“BRICS has achieved quite a lot in the short time of its existence,” said Nandan Unnikrishnan, Vice President and Senior Fellow of the Observer Research Foundation, in an interview with Russia’s Radio Sputnik this week.

“They have led the moves for the reformation of global financial institutions like the IMF and WB [World Bank]. Even more importantly they have created a new institution — the BRICS [new] Development Bank as well as the Contingency Reserve Arrangement. This is nothing short of a spectacular achievement, given that this is the first time such arrangements are being made in the past 200 years without the participation of Western powers. Such initiative must be strengthened.”

The New Delhi-based Observer Research Foundation, along with the Institute for Defense Studies and Analysis (IDSA), have emerged as major Indian think-tanks dealing with security and foreign policy matters.

When asked about his view on the expected role of the Shanghai Cooperation Organization (SCO), Unnikrishnan reiterated New Delhi’s view of ensuring security and stability in the neighborhood as well as in the region as a whole. India, along with Pakistan, and perhaps, Iran, are expected to become full members this year. India now has observer status in the SCO, as do Iran and Pakistan.

“India is very keen to address the issues of stability and development of its immediate and extended neighborhood, said Unnikrishnan. “SCO is a body that can help in achieving these aims.”