BRICS New Delhi Declaration Champions MSMEs and Condemns Unilateral Trade Tariffs

Gist The 18th BRICS Summit concluded with the adoption of the New Delhi Declaration , which strongly advocates for integrating Micro, Small, and Medium Enterprises MSMEs into global value chains by addressing critical financing bottlenecks. The bloc formally condemned unilateral tariffs and economic sanctions, highlighting their disruptive impact on global supply chains and vulnerable populations. For civil services aspirants, this declaration is crucial as it outlines the Global South's collective pushback against Western financial hegemony and introduces actionable mechanisms, like the proposed BRICS invoice discounting system, to facilitate cross-border trade. Background BRICS is an intergovernmental organization comprising major emerging economies that advocates for a multipolar world order and equitable global governance. The bloc has consistently called for the reform of the Bretton Woods institutions the International Monetary Fund and the World Bank , the United Nations Security Council UNSC , and the World Trade Organization WTO to reflect the contemporary economic weight of the Global South. The preceding summit in Rio de Janeiro laid the groundwork for the current declaration by raising alarms over unilateral trade barriers and emphasizing trade…