BRICS Summit

                         BRICS & 2021 SUMMIT

                          INTRODUCTION

• BRICS is the acronym stands by 5 upcoming emerging around globe in terms of economic & financial, various reforms etc. Brazil, Russia, India, China, and South Africa.
• As it was formed in 2006 the term BRIC given by British Economist Jim O’Neil and its First Official meeting held in Russia 2009, in Year 2011 South Africa become a partner and from BRIC it become BRICS.
• It contains 3.6 billion populations which is equal to 41% of the total world population & it includes the total GDP (BRICS Nations) around 16.6 trillion which is equal to 22% of gross total world products.

                      IMPORTANCE OF BRICS

• BRICS plays a major role in a peaceful, prosperous and multi polar world.
• During Summits, BRICS has one of the prime objective of eliminating terrorism, the group take stringent action on the specific aspect of terrorism.
• The BRICS provides to have a balance Geopolitics in multiple forum to have a balancing strategic interests among U.S, Russia, China and other countries.
• BRICS countries shared a common vision of upgrading the monetary system, with a strong desire and have balanced international order BRICS group also plays pivotal role in G20, in shaping globally economic strategies policies and promoting financial stability around the world.
• The New Development Bank (NDB) & Contingent Reserve Arrangement (CRA) are important upshots for BRICS nations. NDB has sponsored 44 projects with approx. net value of 12 billion $, addition to these BRICS countries comprises 8 projects with net value of 3246 million $ in India, Whereas CRA provides shield against global liquidity pressures has also been set up in BRICS  community.

13 BRICS SUMMIT: NEW DELHI DECLARATION

• In 2021 the BRICS has completed its 15 years and Summit of BRICS was hosted by India on 9 September 2021, chaired by PM of India Narendra Modi, because of COVID-19 meeting was virtually attended by all BRICS members.
• The Theme was “Intra BRICS cooperation for continuity, consolidation & consensus”.
• In the meeting India raised agenda about reform in multilateral system i.e. on UN Security Council, Eco-Financial Issue & cultural people to people contact and the major issue was on the Counter Terrorism.
• In addition to its India raised the Afghanistan issue in which instability and terrorism hub in Afghanistan, in support the Russian President also added that Afghanistan should not become sanctuary of terror group to other countries & raised the issue about the Hamid Karzai Airport Terror Attack but none of the countries mentioned the Taliban in written, and include the disputes and conflicts in Myanmar and Israel – Palestine issue & it also highlighted the Iran and USA nuclear deal finalization and stability in Middle East.
• In this Summit the quick winner was china as it expressed support of 2022 Winter Olympics & Paralympics in china since the mostly western countries boycotting the game but all BRICS nations agreed on china to participate in Winter Olympics.
• India also include its achievements under the chairmanship of BRICS 2021 such as Vaccine Research & Development center, green tourism promotion, Increase in trade within the countries, agriculture related technology sharing among the countries, post covid recovery & enhanced the motto of Build Back Resiliently, Innovatively credible and sustainably.                                                                                                                                           Way Forward for BRICS

• BRICS must encourage overall development for all small or big nation and amplify mutually favorable cooperation between them on the basis of shared interests & various others.
• Standardize of international matter i.e. accordance on global agendas & extend with the large-scale and equal participation of all collaborators and be based on recognized legal norms & conditions.
• The foremost objective is to admire for cultural and enlightenment diversity of the globe must be a top priority.
• BRICS nations endeavors for peace and geopolitics deal of crisis and squabble in numerous domain of the world.                                                                                                             Sources: –

• India Times.
• BRICS2021 Min. of External Affairs.

• Wikipedia & infobrics.

19/09/2021 (SUNDAY)

Punit Sharma