Economic Cooperation and Shared Prosperity

GS2– International Relations | BRICS | India–UAE Relations | Global South | Multilateralism

At a time when the international landscape is becoming more complex and uncertain, the case for meaningful international cooperation has rarely been stronger. Its value must increasingly be measured by its ability to deliver stability, resilience and shared prosperity.

BRICS members have different economic structures, resources, capabilities and development experiences — ranging from major producers and consumers to sources of capital, investment destinations, energy exporters and manufacturing centres.
Such diversity creates opportunities to connect markets, capital, capabilities and ideas, generating benefits for member countries and the wider Global South.

UAE’s approach to BRICS

The UAE views its BRICS participation as part of its broader commitment to multilateralism, constructive dialogue and diversified international partnerships.
It seeks to connect economies and regions while supporting an open international system based on peace, stability, sustainable development and shared prosperity.

For the UAE, BRICS should translate dialogue into easier trade, stronger investment flows, resilient supply chains, better connectivity and greater opportunities for businesses.
India’s 2026 BRICS Chairship: India’s focus on resilience, innovation, cooperation and sustainability provides a timely framework for advancing this agenda.

Resilient and inclusive globalisation

Rising trade restrictions, supply-chain disruptions and economic uncertainty are increasing costs for businesses and consumers; therefore, the answer should be to make global economic integration more resilient and inclusive, rather than retreat from it.
BRICS can create tangible benefits by strengthening the multilateral trading system, facilitating trade and investment, improving connectivity, building resilient global value chains and promoting sustainable development.

Role of development finance

The New Development Bank (NDB) has approved more than $40 billion in financing since its establishment for infrastructure and sustainable development across member countries.
The UAE’s engagement with the NDB even before joining BRICS reflects its emphasis on directing capital towards productive investment and long-term economic growth.

UAE–India Economic Partnership

The UAE–India Comprehensive Economic Partnership Agreement (CEPA) has created a more enabling environment for trade and investment between the two complementary economies.
In 2025, non-oil bilateral trade grew by 17% to over $76 billion, with both countries aiming to increase bilateral trade to $200 billion by 2032.

UAE–India ties extend beyond trade to investment, innovation, education, tourism and long-standing business and people-to-people connections.
Strong economic partnerships require not only government agreements but also lasting connections among businesses, institutions and societies, which build trust, opportunity and resilience.

UAE’s comparative advantages

Connectivity is central to the UAE’s economic model, making it well positioned to contribute to BRICS economic integration.
Non-oil sectors accounted for almost 79% of GDP in 2025, reflecting the UAE’s economic diversification.
The UAE possesses world-class infrastructure, trusted financial institutions, advanced logistics, energy capabilities and an open investment environment.

UAE ports, airports and logistics networks connect markets across Asia, Africa, Europe and beyond.
Its financial centres link international capital with regional investment opportunities.

The UAE has sovereign wealth assets exceeding $2.9 trillion, giving it significant capacity to mobilise capital.
With 38 concluded Comprehensive Economic Partnership Agreements, the UAE has developed extensive networks for connecting markets and economies.
Its model can contribute to a BRICS framework where trade, investment, technology, institutions and people are interconnected, strengthening resilience and shared prosperity.

Way Forward

India’s 2026 BRICS leadership should move the grouping from dialogue towards concrete, measurable outcomes in trade, investment, connectivity and sustainable development.
Encourage technology, research and innovation partnerships among BRICS countries while ensuring that the benefits of innovation reach a wider section of society.
Facilitate greater interaction among businesses, entrepreneurs, investors and institutions to convert government-level agreements into long-term commercial partnerships.
Expand cooperation in education, research, tourism, culture and youth engagement to build trust and durable networks among BRICS societies.
Use institutions such as the New Development Bank (NDB) to channel greater capital towards infrastructure, sustainable development and productive investment.
Strengthen ports, airports, logistics, digital networks and financial connectivity to reduce transaction costs and integrate BRICS markets more effectively.

Conclusion

India’s 2026 leadership provides an opportunity to strengthen resilience while keeping markets open and ensuring that cooperation creates wider opportunities.
The UAE–India partnership demonstrates that lasting economic cooperation depends not only on government agreements but also on strong links among businesses, institutions and people.
Ultimately, BRICS will succeed when cooperation translates into tangible benefits—greater prosperity, resilient economies and inclusive opportunities for the Global South.

Mains Question

Q. Discuss the opportunities and challenges in making BRICS a platform for resilient, inclusive and sustainable globalisation.