BRICS Summit: PM Modi’s Russia visit begins, set to meet Prez Putin; talks with China’s Xi Jinping expected | 10 points
Prime Minister Narendra Modi is visiting Russia for the BRICS Summit in Kazan on October 22, where he will meet President Putin and other global leaders. The summit will focus on multilateralism and global issues, with India emphasizing its role in economic cooperation within BRICS. Key Points
mintWhy BRICS? Jaishankar’s sharp retort: 'Because you won’t let us into G7 club'
EAM Jaishankar countered arguments against BRICS. He asserted that BRICS should be accepted alongside existing groups like the G7 and G20. | Latest News India Key Points
Hindustan TimesChina backs, but no consensus on admitting Pakistan into BRICS
Pakistan's bid to join the China-backed BRICS group, comprising Brazil, Russia, India, China, and South Africa, faces hurdles as existing members are not in consensus. Russia, the current BRICS President, appears hesitant about Pakistan's inclusion, citing the need for consensus among members and Pakistan's economic status. Meanwhile, Pakistan may enter the Shanghai Cooperation Organisation (SCO) with China's support, but criteria differ between the two groups. BRICS recently expanded to include UAE, Saudi Arabia, Egypt, Iran, Ethiopia, and Argentina, but Argentina later withdrew, leaving the total membership at 10. Key Points
Economic TimesIndia, China leading charge in wealth creation and strategic inclusion of MENA countries
India is predicted to see a 85% increase in millionaires by 2034, driving a potential USD 22.5 trillion surge in investable wealth. Key Points
mintVivek Ramaswamy: 'BRICS' common currency to replace dollar could be a major problem for US, govt must...'
Ramaswamy, a billionaire entrepreneur-turned-politician, said the BRICS is establishing a currency backed by gold to replace the dollar as the reserve currency of the world. "This is a major problem for the United States." Key Points
Business Today
Five nations become full members of BRICS
The BRICS bloc, comprising emerging economies like India, Russia, and China, has expanded its membership by inducting five new full members—Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates. Russian President Vladimir Putin announced this development as Moscow assumed the BRICS presidency, bringing the total number of member nations to 10. Key Points
Economic TimesBRICS bloc expands to include Egypt, Ethiopia, Iran, Saudi Arabia, UAE
This expansion comes amidst a backdrop of Western dominance in global affairs. Russian President Vladimir Putin, as the presiding head of BRICS, confirmed the development. Key Points
Business TodayBRICS caught up with Goldman Sachs growth forecast a decade early, driven by India-China’s 25-yr streak
In his closing column, T.N. Ninan looks back at the forecast that the BRICS economies would overtake the US, Japan, Germany, UK, France, and Italy, and how far that prophecy has been fulfilled. Key Points
ThePrintBRICS nations call for 'immediate, sustained & durable humanitarian truce' in Israel-Hamas conflict
During a virtual meet, BRICS nations emphasised on ‘importance of preventing further destabilisation’ in the Middle East. PM Modi skipped the meeting, was represented by EAM Jaishankar. Key Points
ThePrintChina has achieved 2 goals ahead of G20—expand BRICS & convince India that all is 'normal'
The Chinese statement reiterates Beijing’s position on delinking the border issue from the bilateral relationship. A détente at the BRICS summit was never in the offing. Key Points
ThePrint
BRICS has expanded, can’t continue being anti-US. It’s up to India to balance
BRICS was always considered as a bloc established to counterbalance the West. But the entry of Argentina, Egypt, Ethiopia, Iran, Saudi Arabia, and UAE has changed the game. Key Points
ThePrintNarendra Modi, Xi Jinping agree to expedite disengagement along LAC
Indian Prime Minister Narendra Modi and Chinese President Xi Jinping have agreed to an expeditious disengagement and de-escalation along the Line of Actual Control in eastern Ladakh, according to Foreign Secretary Vinay Mohan Kwatra. Modi highlighted India's concerns over unresolved issues along the India-China border and emphasized the importance of peace and tranquility in the region. Both leaders have instructed officials to intensify efforts for disengagement and de-escalation. This comes after multiple meetings between Doval and Wang to discuss the disengagement of troops and the future of political engagement. Key Points
Economic TimesWhat is a BRICS currency, and could one be adopted?
Brazil's President, Luiz Inacio Lula da Silva, has proposed the creation of a common currency for BRICS nations to reduce vulnerability to fluctuations in the dollar exchange rate. However, officials and economists have highlighted the challenges involved in such a project, given the economic, political, and geographic differences among Brazil, Russia, India, China, and South Africa. Key Points
Economic TimesWhat Modi, Xi & Putin focussed in opening remarks at BRICS Plenary Session
BRICS is holding its first in-person meeting since Covid pandemic. Beijing & Moscow make it known that they see grouping as a counterbalance to Western alliance. Key Points
ThePrintIndia fully supports the expansion of BRICS: PM Modi at open plenary session of the 15th BRICS Summit
Indian Prime Minister Narendra Modi expressed his support for the expansion of BRICS during the 15th BRICS Summit. He emphasized the importance of making BRICS a future-ready organization by enabling societies with technology. Modi also welcomed the special importance given to countries of the Global South under the chairmanship of South Africa. Key Points
Economic Times
Prime Minister Narendra Modi receives warm welcome from Indian community in Johannesburg
Prime Minister Narendra Modi arrived in Johannesburg, South Africa, to attend the 15th BRICS Summit. The Indian community eagerly awaited his arrival, with members expressing admiration for him and his leadership. Upon arrival, Modi received a ceremonial welcome and was greeted by South African dancers performing a traditional dance. He is scheduled to address the BRICS business forum and participate in meetings with the BRICS Business Council and BRICS Women Business Alliance. Key Points
Economic TimesBRICS' Johannesburg meeting amid talks of expansion
Prime Minister Narendra Modi on Tuesday left for Johannesburg for the first in-person BRICS Summit since 2019. In those terms, it is an important geo-political and geo-economic event. This time, however, leaders of the BRICS—the grouping of major emerging economies Brazil, Russia, India, Key Points
The Tribune IndiaWhat is BRICS, which countries want to join and why?
The BRICS group of major emerging economies - Brazil, Russia, India, China and South Africa - will hold its 15th heads of state and government summit in Johannesburg between Aug. 22 and Aug. 24. Key Points
ReutersExpansion of BRICS, use of national currency among key agendas of summit: India's BRICS Sherpa Dammu Ravi
The 15th BRICS Summit, set to take place from August 22-24, will discuss several key issues such as the expansion of BRICS and using national currency for trading among member countries, according to Dammu Ravi, India's BRICS Sherpa. The guidelines and criteria for expansion would be decided during the meeting, keeping in mind their agenda items and economic development. Key Points
Economic TimesFive things to know about BRICS
The BRICS countries, an acronym of the five members Brazil, Russia, India, China and South Africa, meet for three days for a summit in Johannesburg starting Tuesday. Representing 23 percent of the world's gross domestic product (GDP) and 42 percent of the world's population, they are seeking to dull Western economic domination in global affairs. Key Points
Economic Times
Can a good acronym give currency to a group that's lost relevance? The curious case of BRICS today
BRICS is in danger of becoming a vehicle for Chinese diplomatic thrust. This could become tricky territory for India, given its basically adversarial relationship with Beijing. Key Points
ThePrintRussia says expansion will strengthen BRICS
Russia has publicly endorsed adding new members to the BRICS group of countries, calling the move an important and influential counterbalance to the US-led West. Brazil's President Lula da Silva has stated it is 'extremely important' for Saudi Arabia, Argentina and the UAE to join the group. Key Points
Economic TimesIndia dismisses reports that it opposes BRICS expansion
With the upcoming BRICS summit in Johannesburg set to discuss admitting new members, India on Thursday dismissed as baseless reports that it is opposed to the expansion of the grouping. It is learnt that New Delhi is yet to take a final decision on Prime Minister Narendra Modi's in-person attendance in the summit of the five-nation grouping from August 22 to 24. Key Points
Economic TimesBRICS Urbanisation Forum to be held in South Africa next week
The first in-person follow-up to the BRICS Urbanisation Forum will take place in Durban on July 26. The event brings together ministry delegates, policy makers and other stakeholders to discuss building sustainable urban economies, livelihood survival strategies in urban environments and smart technologies to enhance resilience and liveability. Key Points
Economic TimesJaishankar, Brazilian counterpart hold talks on advancing cooperation in BRICS, IBSA, G20 blocs
External Affairs Minister S. Jaishankar met his Brazilian counterpart Mauro Vieira and held discussions on advancing India and Brazil’s cooperation in the BRICS, IBSA, G20 and United Nations frameworks. Key Points
The Hindu
India positive on BRICS expansion, but seeks wider consultations
India has been at the forefront of the years-long efforts aimed at reforming the Security Council. India says it rightly deserves a place as a permanent member of the Council, which in its current form does not represent the geo-political realities of the 21st Century. Key Points
Economic TimesBRICS that could be bigger
The grouping of Brazil, Russia, India, China and South Africa is considering whether to add new members and to look seriously at a common currency. Both proposals involve making complex choices. Key Points
The Indian ExpressJaishankar may meet Chinese counterpart on BRICS sidelines on June 1
The Jaishankar-Qin meeting could also focus on President Xi Jinping's possible visit to India for the SCO Summit on July 3-4. Jaishankar is also expected to meet his Russian counterpart Sergey Lavrov on the sidelines of the BRICS engagement, which would be their third meeting this year. This could lay the foundation for Russian President Vladimir Putin's India trip for the SCO Summit. Key Points
Economic TimesModi's presence to give a big push to Global South at BRICS Summit
The BRICS Summit in South Africa next week will be the largest gathering of the bloc with over 60 countries invited. PM Modi will meet with African leaders and push India's Global South agenda. Putin is expected to speak virtually on August 23. On the first day of the summit, a business forum will be held, with heads of state addressing participants at the final session in the evening. Key Points
Economic Times