Are we moving towards a multipolar world?

The Kazan summit defined the essence of BRICS at a time when multilateral forums are flourishing.

Multilateral institutions are becoming the new reality in the geopolitical landscape. On October 22-24, Russia hosted the 16th Brazil, Russia, India, China and South Africa (BRICS) summit at Kazan. The summit was projected as a diplomatic success for Russia, sending a message to the West that it is not isolated internationally and continues to be courted by important countries around the world. BRICS started as a group of four emerging economies in 2006 and later included South Africa in 2010. Since then, it has expanded to add new members, i.e. Saudi Arabia, Iran, Ethiopia, Egypt, Argentina and the United Arab Emirates (UAE), giving economic teeth to the organisation. BRICS comprises 41 percent of the world population, having 24 percent of the world GDP and over 16 percent share of the world trade . With the new members joining, its potential is set to increase exponentially.