The BRICS group—Brazil, Russia, India, China, and South Africa—has become the center of attention for many developing countries that feel left out by Western institutions like the World Bank and IMF. These countries believe these organizations don’t treat them fairly or as equals, and they’re looking to BRICS for a new way forward. Indian Prime Minister Narendra Modi, speaking at the 16th BRICS Summit in Kazan, Russia, emphasized that BRICS could be the solution.
At the summit, Modi said...