Recently the 14th BRICS Summit which was held virtually came up with the Beijing Declaration.

1. ENSURING A STABLE
MACROECONOMY
Need for global economic growth and stability
Recently the 14th BRICS Summit which was held virtually
came up with the Beijing Declaration. They were discussed on
seven major points. Beijing Declaration, Russia's Response,
China’s position, Terrorism, Afghanistan, India’s stand and
Target of G7. During this meeting the member nations also
expressed their support to efforts of the UN secretary general,
UN agencies and ICRC to provide humanitarian assistance in
accordance with the basic principles of humanity, neutrality and
impartiality established in the UN General Assembly resolution
46/182, the declaration read. As we know the Russia – Ukraine
war situation. They were also worried about the Afghan
situation the quoted “We strongly support a peaceful, secure and
stable Afghanistan while emphasising respect for its
sovereignty, independence, territorial integrity.”
Where The Roads End?
BRICS nations have a common vision for global economic
governance and the mutual cooperation can make a useful
contribution to the global economic recovery, said PM Modi in
his address. The PM also talked about the growing membership
HARSH KUMAR

2. of the New Development Bank and the structural changes that
have increased the influence of the BRICS institution. The
BRICs more than doubled their share of the global economy
from 8% in 2000 to 19% in 2011, according to Bloomberg
Economics. But Political tensions have also flared up, with Putin
turning inward, scandals in Brazil and reform stumbles in India.
A botched currency devaluation from China in 2015 rattled
global markets and saw it backtrack on some of its market
opening plans. Since the inception of BRICS, the protracted
India–China rivalry has cast a dark shadow over the group. In
the aftermath of the India–China standoff in Ladakh, especially
the Galwan Valley clash evoking memories of more serious
clashes such as those at Nathu La in 1967 and even the 1962
border war, a crucial axis of BRICS cooperation – the India–
China relationship – has deteriorated. This Special Section
examines whether the India–China rivalry will render BRICS
dysfunctional. Will the BRICS group be broken? The
contributors will analyse whether BRICS can be a pacifying
force and outline the prospects for the development of BRICS in
light of the India–China crisis.
Conclusion
It can contribute significantly to global economic growth and
stability by leveraging NDB, CRA, and AIIB. By effectively
using the platform it can resolve the deadlock in the Ukraine
region and can unclog the supply chain thus bringing prices and
supplies to normalcy