India may soften its stand on expansion of the five-country BRICS when the proposal comes up for discussion at the BRICS Summit next month and not insist that the standards and stated criteria of qualification being discussed, such as minimum GDP and trade with bloc members, be ``strictly’’ met to accommodate countries favoured by existing members, sources said.

“New Delhi is likely to support the inclusion of about three to five new members into the BRICS. It would not insist that the criteria of qualification pushed by it, such as GDP of $400 billion and BRICS trade of $50 billion, be strictly met as long as it can be established that the new countries favoured by other BRICS members are indeed emerging economies,” a source tracking the matter told businessline.

About 20 countries have expressed interest in gaining membership in the BRICS, comprising Brazil, Russia, India, China, and South Africa, and a decision on the matter may be taken at the BRICS Summit in Johannesburg on August 22–24. Prime Minister Narendra Modi is expected to represent India at the Summit.

Frontrunners

“The frontrunners for new membership are Indonesia, Saudi Arabia, Argentina, and some others. All these countries meet the non-economic parameters of being UN members and democracies,” the source said.

India has not been very enthusiastic about the expansion of BRICS membership so far, as it is basically an exercise initiated by China to increase its clout in the grouping. “Since almost all other members are now open to the expansion process, including Brazil, which wants Argentina as a member to increase the weight of Latin America, New Delhi does not want to be the lone voice opposing it. Moreover, the frontrunners for membership are countries India has good diplomatic relations with,” the source told businessline.

The BRICS now form one of the world’s most important economic blocs, representing more than one quarter of global GDP and 42 per cent of the world’s population, according to an UNCTAD report.