Print Friendly, PDF & Email

13th BRICS Summit:

GS Paper 2

Topics Covered: Bilateral, regional and global groupings and agreements involving India and/or affecting India’s interests.

 

The 13th BRICS Summit is going to be held under India’s Chairship in 2021. It will be the third time that India will be hosting the BRICS Summit after 2012 and 2016.

  • The Indian Chairship of BRICS this year coincides with the fifteenth anniversary of BRICS, as reflected in the theme for the Summit.
  • The theme for the Summit: ‘BRICS@15: Intra-BRICS cooperation for continuity, consolidation and consensus.’

Priority areas under the Indian BRICS Chairship:

India had outlined four priority areas for its Chairship. These are Reform of the:

  1. Multilateral System.
  2. Counter Terrorism.
  3. Using Digital and Technological Tools for achieving SDGs.
  4. Enhancing People to People exchanges.

 

Background:

The BRICS summit is taking place at a time two of the Bloc’s members, India and China, are locked in a bitter border standoff in eastern Ladakh for over six months.

  • The BRICS is known as an influential Bloc that represents over 3.6 billion people, or half of the world’s population.
  • Such summits are significant for India as the BRICS countries have a combined GDP of USD 16.6 trillion.

 

What is BRICS?

BRICS is the group composed of the five major emerging countries – Brazil, Russia, India, China and South Africa.

  • It together represents about 42% of the population, 23% of GDP, 30% of the territory and 18% of the global trade.
  • The acronym BRIC was coined by economist ‘Jim O’Neill’ of Goldman Sachs in 2001 to indicate the emerging powers that would be, alongside the United States, the five largest economies of the world in the 21st century.
  • In 2006, BRIC countries started their dialogue, which since 2009 takes place at annual meetings of heads of state and government.
  • In 2011, with South Africa joining the group, the BRICS reached its final composition, incorporating a country from the African continent.

 

Insta Curious:

Have you heard about PARIS21 grouping? Reference: read this.

 

InstaLinks:

Prelims Link:

  1. About BRICS.
  2. Summits.
  3. Presidency.
  4. Organisations and groups associated with BRICS.

Mains Link:

Discuss the significance and relevance of BRICS for India.

Sources: the Hindu.