What is BRICS? A simple guide ahead of Prime Minister Modi's address
BRICS is an intergovernmental group of eleven countries: Brazil, Russia, India, China, South Africa, Saudi Arabia, Egypt, United Arab Emirates, Ethiopia, Indonesia, and Iran. It was created to foster cooperation among emerging economies and to coordinate on political, economic, and social issues, especially those affecting the Global South. The group holds annual summits where leaders discuss ways to boost their collective influence on world affairs.2. HOW BRICS HAVE GROWN OVER TIMEOrigin: The term 'BRIC' was first used in 2001 to describe Brazil, Russia, India, and China, countries with rapidly growing economies.Expansion: South Africa joined in 2010, making it BRICS. In 2024 and 2025, the group will expand further to include Saudi Arabia, Egypt, the UAE, Ethiopia, Indonesia, and Iran, reflecting its growing importance and reach.advertisementPurpose: BRICS aims to reform global institutions like the UN, IMF, and World Bank, ensuring fairer representation for developing countries.3. WHY BRICS MATTER IN TODAY 'S WORLDEconomic Power: BRICS nations account for a large share of the world's population, GDP, and trade, making them a powerful economic bloc.Challenging the West: The group seeks to counterbalance Western influence in global institutions and promote the interests of emerging economies.Key Issues: BRICS addresses global challenges such as economic recovery, sustainable development, terrorism, and reforming international organisations.Internal Differences: While BRICS aims for unity, its members have different political systems and interests, which sometimes make collaboration difficult.4. PM MODI 'S KEY FOCUS AREAS AT THE BRICS SUMMITAlthough the official agenda isn't fully confirmed, Prime Minister Narendra Modi is widely expected to highlight several familiar priorities when he addresses the BRICS summit. As a leader who has played an active role in shaping BRICS discussions, Modi is likely to focus on:Highlight Terrorism: Modi often stresses the need to fight terrorism and hold accountable those who support it.Push for Reforms: He advocates for changes in institutions like the IMF, WTO, and WHO to better reflect today's realities.Promote Economic Cooperation: Modi supports greater trade, investment, and economic recovery among BRICS members, especially after global crises like the COVID-19 pandemic.advertisementSupport the Global South: He emphasises the importance of giving developing countries a stronger voice in world affairs.Encourage Innovation: Modi may discuss India's strengths in technology, vaccine production, and sustainable development.5. THE ROAD AHEAD FOR BRICS AND INDIA 'S ROLEGrowing Influence: As BRICS expands, its ability to shape global policies grows, but so do its internal challenges.India's Leadership: India is seen as a bridge between different regions and a key advocate for reform and cooperation within BRICS.Future Summits: The next BRICS summit will focus on global governance reforms and cooperation among the Global South, with India expected to play a prominent role in these discussions.BRICS is at a crossroads, with its expanded membership offering both new opportunities and challenges. As Prime Minister Modi addresses the summit, his focus on economic growth, security, and global reforms will help define the group's future direction and its impact on the world stage.- EndsMust Watch
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