Latest news with #BRICS2025
IOL News
6 days ago
- Business
- IOL News
BRICS+ Series: BRICS Summit in Rio Sparks Political Shockwave
Heads of state and government of member, partner, and external engagement countries pose for a family photo during the BRICS summit in Rio de Janeiro, Brazil, on July 7, 2025. The 2025 BRICS Summit in Rio De Janeiro, Brazil, took place amidst a myriad of geopolitical conflicts. As it stands: the Russia-Ukraine conflict has received renewed momentum; the crisis in the Middle East has been exacerbated involving both Iran and the US–culminating in the US striking Iran; the conflict between India and Pakistan remain tense; multiple African conflicts in the Democratic Republic of Congo (DRC), Sudan, and Sahel. BRICS 2025 Summit Agenda and Key Themes The BRICS 2025 summit features a broad and ambitious agenda, addressing several urgent global priorities. Discussions are set to cover public health cooperation, economic and financial integration, climate policy, artificial intelligence governance, multilateral security reforms, and institutional strengthening. On the issue of global health, leaders aim to promote fair and universal access to essential medicines and investment, and financial cooperation will be a major focus, with renewed dialogue on advancing a shared BRICS currency and reducing dependency on the US dollar in cross-border transactions. Climate change remains high on the agenda, with member states expected to launch a joint "BRICS Climate Leadership Strategy" to drive coordinated environmental action. Efforts to establish inclusive global frameworks for governing artificial intelligence will also take centre stage, as the bloc pushes for ethical and balanced oversight in emerging technologies. The summit will explore ways to reform the international peace and security system, advocating for more equitable global governance structures. Finally, institutional development will focus on enhancing internal coordination mechanisms within the newly expanded BRICS grouping. The New Development Bank In the lead-up to the 17th BRICS Summit, Colombia and Uzbekistan have formally become members of the New Development Bank (NDB), bringing the total number of participating countries to eleven. Established in 2015 by the founding BRICS nations, the NDB was created to finance infrastructure and sustainable development initiatives across emerging markets. Speaking at a press conference after the bank's 10th Board of Directors meeting, NDB President Dilma Rousseff reiterated the institution's commitment to supporting the Global South. She highlighted the importance of investment in innovation, science, and technology to help member states transition effectively into the Fourth Industrial Revolution. Current members of the NDB include India, Brazil, Russia, China, South Africa, Bangladesh, the United Arab Emirates, Egypt, and Algeria. With its headquarters in Shanghai, the bank has so far approved over 120 projects spanning key sectors such as renewable energy, transportation, environmental conservation, water and sanitation, and digital infrastructure. Summit Overview: BRICS 2025 in Rio The 2025 BRICS summit marks a significant milestone for the coalition, underscoring the impact of its growing membership and increasing influence in world affairs. Under Brazil's presidency, the summit will reaffirm the bloc's commitment to deeper South-South cooperation and structural reforms in global governance institutions. Its wide-ranging agenda illustrates the diverse priorities and shared challenges confronting the Global South. Key Summit Developments Among the standout developments at the Rio summit were unified concerns over rising global tariffs, viewed as threats to fair trade—implicitly referencing recent US policies. BRICS leaders also condemned the targeting of Iranian infrastructure, reflecting shared unease over escalating regional tensions. The summit's focus areas—ranging from public health and financial sovereignty to climate action and AI regulation—highlight the bloc's broader ambition to shape international discourse. Beyond formal sessions, the event also served as an umbrella for cultural and economic engagements, such as the BRICS Games in Brazil and youth entrepreneurship forums in India, strengthening collaboration across various sectors. *Dr Iqbal Survé Past chairman of the BRICS Business Council and co-chairman of the BRICS Media Forum and the BRNN *Cole Jackson Lead Associate at BRICS+ Consulting Group Chinese & South American Specialist ** MORE ARTICLES ON OUR WEBSITE ** Follow @brics_daily on X/Twitter & @brics_daily on Instagram for daily BRICS+ updates
India.com
07-07-2025
- Politics
- India.com
'Extra tariffs will be imposed if...': US president Trump threatens BRICS countries; will India get affected too?
(photo credit reuters for representation only) Donald Trump threatens BRICS countries: In a significant development for global politics and India-US trade relations, US President Donald Trump has warned the members of the BRICS countries that he will impose additional tariffs on countries supporting any policy that is 'anti- US'. According to reports quoting the US President, an additional 10 percent tariff will be imposed on the members of the BRICS countries for opposing the US . Notably, US President Trump 's statement came after BRICS 2025 Summit condemned the US and Israeli attacks on Iran. What's BRICS? BRICS is an intergovernmental organization which comprises ten countries – Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Indonesia, Iran and the United Arab Emirates. The founding members of BRICS are Brazil, Russia, India and China. What happened at BRICS 2025 summit? At the BRICS 2025 summit held in Brazil , the 10 member countries – Brazil , China, Egypt , Ethiopia , India, Indonesia , Iran, Russian Federation, South Africa , United Arab Emirates – condemned the US- Israeli attacks on Iranian nuclear and military facilities and called the attacks illegal. Will India get affected? Although discussions regarding the India-US trade deal are underway, the current development might impact the US tariffs on India. BRICS calls for urgent UNSC reform, reiterate support for India In the recent development, leaders of BRICS nations also reiterated support for 'comprehensive reform' of the United Nations, including its Security Council, for making it more democratic, representative, effective and efficient. In a joint declaration at the 17th BRICS summit in Rio de Janeiro, China and Russia, as permanent members of the United Nations Security Council, reiterated their support for the aspirations of Brazil and India to play a greater role in the UN, including its Security Council. Notably, India has long sought a permanent seat in the UN Security Council (UNSC) to better represent the interests of the developing world. The UNSC is composed of 15 member states, including five permanent members with veto power and ten non-permanent members elected for two-year terms. (With inputs from agencies)
India Gazette
07-07-2025
- Politics
- India Gazette
EAM Jaishankar reaffirms India's commitment to developing privileged strategic partnership with Russia's FM
Rio de Janeiro [Brazil], July 7 (ANI): Russia's Foreign Minister Sergey Lavrov held talks with External Affairs Minister S Jaishankar on July 6, in Rio de Janeiro, on the sidelines of the 17th BRICS Summit, an official statement said. Both sides reaffirmed their commitment to further developing the special and privileged strategic partnership between the two countries across the entire spectrum of practical cooperation, the statement said. The parties discussed the schedule of upcoming Russian-Indian contacts. Particular attention was paid to intensifying engagement within BRICS, taking into account India's upcoming chairmanship of the association in 2026, as well as the positive outcomes of the current Brazilian chairmanship. The Ministers also exchanged views on a number of topical international issues, the statement added. In a post on X, Jaishankar stated, 'Good to meet with FM Sergey Lavrov of Russia on the sidelines of BRICS2025. Discussed bilateral cooperation, West Asia, BRICS and SCO.' Earlier, Russia's Ministry of Foreign Affairs shared a picture of Jaishankar and Lavrov, stating that the two leaders held talks on the sidelines of the BRICS Summit. 'Russia's Foreign Minister Sergey Lavrov and Minister of External Affairs of India S Jaishankar hold a meeting on the sidelines of the XVII BRICS Summit. Rio de Janeiro, July 6,' Russia's Ministry of Foreign Affairs posted on X. The two leaders had earlier met in Johannesburg in February this year, where they had discussed the ongoing progress of bilateral cooperation between India and Russia. Leaders of the BRICS group gathered in Rio de Janeiro to attend the 17th BRICS Summit hosted by Brazil. The BRICS summit held under Brazil's Chairmanship brought together leaders from Brazil, Russia, India, China, South Africa, as well as new members Egypt, Ethiopia, Iran, the UAE, and Indonesia. During the BRICS Summit on Sunday, Prime Minister Narendra Modi asserted that condemning terrorism must be a 'principle' rather than a matter of 'convenience', describing it as the 'most serious challenge' for humanity in the current global scenario. (ANI)
NDTV
07-07-2025
- Business
- NDTV
S Jaishankar Meets Counterparts From Russia, Iran, Mexico At BRICS Summit
Rio de Janeiro: External Affairs Minister S Jaishankar has met his counterparts from Russia, Iran and Mexico and discussed bilateral cooperation and global issues. Mr Jaishankar met these leaders on Sunday the sidelines of the 17th BRICS Summit here in Brazil. Mr Jaishankar, during his meeting with Russian Foreign Minister Sergey Lavrov, discussed bilateral cooperation, West Asia, BRICS and the Shanghai Cooperation Organisation (SCO). "Good to meet with FM Sergey Lavrov of Russia on the sidelines of #BRICS2025," Mr Jaishankar posted on X. Good to meet with FM Sergey Lavrov of Russia on the sidelines of #BRICS2025. Discussed bilateral cooperation, West Asia, BRICS and SCO. 🇮🇳 🇷🇺 — Dr. S. Jaishankar (@DrSJaishankar) July 6, 2025 He also met his Iranian counterpart Seyed Abbas Araghchi, and discussed regional developments. "Glad to meet FM @araghchi of Iran this (Sunday) evening. Our conversation focused on recent regional developments," Mr Jaishankar said. Glad to meet FM @araghchi of Iran this evening. Our conversation focused on recent regional developments. 🇮🇳 🇮🇷 — Dr. S. Jaishankar (@DrSJaishankar) July 6, 2025 During his meeting with the Secretary of Foreign Affairs of Mexico, Juan Ramon de la Fuente, Jaishankar discussed the advancement of bilateral partnership, focusing on health, digital, technology and space. The BRICS has emerged as an influential grouping as it brings together 11 major emerging economies of the world, representing around 49.5 per cent of the global population, around 40 per cent of the global GDP and around 26 per cent of the global trade. BRICS, originally comprising Brazil, Russia, India, China, and South Africa, expanded in 2024 to include Egypt, Ethiopia, Iran, and the United Arab Emirates, with Indonesia joining in 2025.
Hans India
07-07-2025
- Business
- Hans India
Trump hints at new tariffs for countries backing BRICS agendas contrary to American values
US President Donald Trump has threatened countries that side with BRICS policies which are 'anti-American' with additional tariffs. In the latest threat from the US president, he said that countries that move to side with anti-American policies of BRICS will have to pay an additional tariff of 10 percent. During the BRICS 2025 summit that was held in Brazil, the 10 member countries - Brazil, China, Egypt, Ethiopia, India, Indonesia, Iran, Russian Federation, South Africa, United Arab Emirates condemned the US and Israeli strikes on Iranian nuclear and military facilities as 'illegal.' In addition, Indian Prime Minister Narendra Modi, at the Brazil Summit had brought out a double standard towards terror when it comes to attacks in the Global South. BRICS 2025 summit: 'Double standards' towards Global South In the joint declaration that also decried the Pahalgam terror attack in Jammu and Kashmir, the BRICS countries have called for an end to cross-border movement of terrorists, terror financing and safe havens. 'We urge to ensure zero tolerance for terrorism and reject double standards in countering terrorism,' said the joint statement. In addition, the joint declaration also took a jab at the 'indiscriminate rising of Trump tariff' without directly calling out the US, and said that such a move will endanger global trade and disrupt global supply chains. BRICS members also ramped up its language on the war in the Gaza Strip, echoing the Global South's disapproval for unilateral military actions. Trump tariff letters 'signed and ready' As the deadline for his tariff pause inches closer, the US president has said that he has tariff letters for 12 countries 'signed and ready.' As reports call Trump's alleged bluff, the Republican president has said the letters will be released on Monday - 12 PM EST. On April 2, Trump announced the revised and hiked tariff rates for all of the US' trading partners. In the wake of global backlash and the collapse of trade deals, the US president had announced a 90-day pause on tariffs, which was later extended till July 9.
