President Cyril Ramaphosa called for a shift away from raw material dependency during the Brics Business Forum in New Delhi, emphasizing the need for developing economies to focus on high-value manufacturing. Speaking at the event, Ramaphosa highlighted the potential for Brics nations to create a more resilient and inclusive economic future for the Global South. His remarks came as leaders from Brazil, India, China, Russia, and South Africa gathered ahead of the 18th Brics summit.
Ramaphosa’s vision aligns with broader discussions on economic diversification, as Brics nations seek to reduce reliance on commodity exports. During the forum, Indian Prime Minister Narendra Modi and Russian President Vladimir Putin also met, discussing ways to strengthen bilateral ties and address regional challenges. Modi urged Putin to pursue diplomatic solutions to end the Ukraine war, while Putin criticized Western efforts to maintain economic dominance.
The summit underscores growing tensions between Brics and Western powers, with Brics leaders advocating for a more balanced global economic order. As the bloc prepares to meet, the focus remains on fostering collaboration and strategic autonomy in an increasingly fragmented international landscape.
