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Pakistan’s bid to join BRICS remains stalled due to India’s opposition, despite support from Russia and China. Islamabad applied in 2023, hoping to diversify financing amid economic challenges. It has also bought a $580 million stake in the BRICS-backed New Development Bank. Since BRICS admission requires consensus among existing members, India’s stance remains a key obstacle.

Pakistan’s bid to join BRICS, the coalition of emerging economies comprising Brazil, Russia, India, China and South Africa, continues to remain stalled amid opposition from India.

Pakistan applied for BRICS membership in 2023, as the grouping expanded beyond its original five members. Last year, Egypt, Ethiopia, Iran and the United Arab Emirates were admitted, transforming the bloc into BRICS+.

Pakistan is among 29 other countries that have applied for membership of the grouping. Islamabad’s push to join BRICS has largely been driven by its economic challenges and its efforts to diversify international financing options. According to the Pakistan Economic Survey, the country’s GDP growth rate stood at 3.70 per cent.

A Nikkei Asia report stated that Pakistan has purchased a $580 million stake in the BRICS-backed New Development Bank, seeking to diversify its financing options and reduce its dependence on the World Bank and the International Monetary Fund.