Prime Minister Narendra Modi's two-day visit to Russia for the BRICS Summit 2024 has kicked off with several bilateral summits discussing key issues such as India-Russia ties, the war in Ukraine, and conflicts with Iran and Israel. The summit, with the theme of 'Strengthening Multilateralism,' will see discussions on global issues and includes new member nations - Iran, Egypt, Ethiopia, and the United Arab Emirates. As major emerging economies, the BRICS group comprises 41% of the world population and 24% of the world GDP, making it an important platform for discussions on global development and security.
BRICS: A Global Force for Collaboration and Development
The BRICS group, comprising Brazil, Russia, India, China, and South Africa, is an influential intergovernmental forum that has gained significant prominence in recent years. The acronym "BRICS" was first coined by Jim O'Neill, a former Goldman Sachs economist, in 2001, who recognized the potential of these emerging economies to reshape the global economic landscape.
Initially, the BRICS group consisted of Brazil, Russia, India, and China. South Africa joined in 2010, expanding the forum's reach and influence. The BRICS countries share a common goal of fostering economic growth, promoting international cooperation, and reforming global economic institutions to reflect the changing world order.
BRICS Summit 2024 and India's Role
The BRICS Summit 2024, held in Moscow, Russia, is set to be a significant event in the history of the group. With the theme "Strengthening Multilateralism," the summit will focus on key global issues such as sustainable development, climate change, international trade, and security.
Prime Minister Narendra Modi's participation in the summit highlights India's growing role within BRICS. India has been an active member of the group, contributing to discussions on various issues and leading initiatives in areas such as infrastructure development and financial inclusion. India's engagement with BRICS is expected to further strengthen its position as a global economic and diplomatic power.
BRICS: A Platform for Global Governance
As a major emerging economies, the BRICS countries represent a large portion of the world population and contribute significantly to global economic growth. The group provides a platform for these countries to coordinate their policies, pool their resources, and work together to address common challenges.
BRICS has established several mechanisms to promote cooperation, including the BRICS New Development Bank, the BRICS Business Council, and the BRICS Parliamentary Forum. These institutions facilitate economic, financial, and political dialogue among the member countries, helping them to shape the global agenda and contribute to a more equitable and sustainable world order.
Top 5 FAQs and Answers
1. What is the significance of the BRICS group? BRICS is an important platform for emerging economies to collaborate on global economic and political issues, fostering economic growth, promoting international cooperation, and reforming global economic institutions.
2. What are the key objectives of the BRICS Summit 2024? The summit aims to strengthen multilateralism, address global issues such as sustainable development, climate change, international trade, and security, and discuss the expansion of BRICS membership.
3. What is India's role within BRICS? India is an active member of BRICS, contributing to discussions and leading initiatives in areas such as infrastructure development and financial inclusion. India's engagement with BRICS strengthens its position as a global economic and diplomatic power.
4. What are the mechanisms established by BRICS to promote cooperation? BRICS has established the BRICS New Development Bank, the BRICS Business Council, and the BRICS Parliamentary Forum to facilitate economic, financial, and political dialogue among the member countries.
5. What is the potential impact of BRICS on the global economy? The BRICS countries represent a significant portion of the world population and contribute substantially to global economic growth. BRICS' cooperation and coordination can influence global economic policies, trade patterns, and the development of international financial institutions.
US President Donald Trump is set to make a "major Russia announcement" on Monday, which is expected to include harsh sanctions not only on Russia, but also on countries like China and India who buy Russian energy products. Reports suggest that Trump may authorize sending offensive weapons to Ukraine, which could potentially alter the course of the war and force Russian President Vladimir Putin to the negotiation table. However, it remains unclear whether a final decision has been made on the matter. Nevertheless, Trump has hinted at providing Ukraine with sophisticated military equipment and is reportedly considering authorizing additional funding for the country for the first time during his term. These developments come as Ukrainian authorities believe that anything less than a massive injection of military aid or crushing sanctions on Moscow will not end Russia's full-scale invasion on favorable terms for Ukraine.
A small plane crashed at London Southend Airport in Essex, England on Sunday, causing the airport to close operations until further notice. The fire and emergency services are currently on the scene, and it is reported that there were multiple injuries as a result of the crash. The cause of the crash is still unknown, but air accident investigators are currently looking into the incident.
A small plane crashed at London Southend Airport on Sunday afternoon, leading to reports of multiple injuries. The 12-meter aircraft reportedly experienced difficulties shortly after takeoff and crashed into the ground. Emergency services responded quickly to the scene, but the extent of the injuries is currently unknown. The cause of the crash is under investigation.
A small passenger plane crashed at London Southend Airport shortly after lifting off the runway, resulting in a massive fireball and thick black smoke. The jet was headed to the Netherlands and could carry up to 13 passengers and 2 crew members. Emergency response teams, including ambulance crews and Essex Police, were quickly deployed to the crash site. Investigations are ongoing to determine the cause of the crash and the status of passengers and crew onboard the aircraft.
Residents of London Southend witnessed a horrifying sight on Sunday as a small plane crashed at the city's airport, leading to a massive emergency response. Local resident Dani Hill described feeling immense fear and shock as she saw a plume of black smoke rise from the crash site. The incident, deemed as a "serious incident" by officials, occurred at approximately 4 p.m. local time and involved a general aviation aircraft. The airport has confirmed the incident and is working closely with emergency services, with investigations ongoing. Nearby establishments were evacuated as a precaution and an update on any possible casualties or intended destination of the aircraft is yet to be released.
The Indian Army has dismissed claims made by banned outfit ULFA-I that it carried out a drone attack on their Eastern headquarters in Myanmar. The outfit had claimed that 19 of its cadres were killed and 19 injured in the attack, including a senior commander. However, the Indian Army has stated that they have no information or involvement in any such operation. This denial comes at a time when ULFA-I leader, Paresh Barua, is reportedly facing challenges in his militant career with only one senior functionary left in Myanmar.
The Indian Army has refuted claims made by the outlawed group United Liberation Front of Asom-Independent (ULFA-I) that it was responsible for drone and missile attacks on several insurgent camps along the Indo-Myanmar border. The attacks reportedly led to the death of the chairman of their lower council and injured several others. The separatist group has claimed that these attacks were carried out by Indian occupational forces, using drones manufactured in Israel and France. However, the Indian Army has stated that it had "no inputs" about these operations and THE WEEK could not independently verify the claims made by the banned group. These attacks highlight the ongoing conflict between the Myanmar's ruling junta and militant organizations, posing a concern for India due to the smuggling of arms in the area.
In a recent press statement, the ULFA(I) claimed that its camps along the Myanmar border were targeted by drone attacks carried out by the Indian Army. The insurgent group further reported that a senior leader was killed and approximately 19 others were injured in the alleged assaults. However, the Indian Army has denied any involvement in the incident, stating that they have no information to confirm such an operation. Media reports also claim that the Indian Army may have coordinated the mission with the Myanmar military, but both parties have officially denied these speculations.
In the midst of ongoing conflict in the Middle East, the latest victim count reports the tragic death of children in Gaza due to an Israeli airstrike. Emergency officials confirm the deaths, bringing further devastation to the region. Meanwhile, death tolls continue to rise in other areas, such as the UK, where a child has died from measles. Beyond these tragedies, other news to come this week includes the release of a highly anticipated war series starring actor Jacob Elordi and the continuation of a heatwave in the UK.
Over 2,500 Myanmar refugees who had fled to Mizoram's Champhai district due to violent clashes between two Chin armed groups have started making their way back home. The displacement began on July 5 and was a result of the CNDF launching an offensive on CDF-Hualngoram's camps in Chin State. Medical assistance and aid were provided by local organizations, and Mizoram's Chief Minister sent a political adviser to mediate peace. Most of the refugees have now returned to Myanmar, with the situation being closely monitored in the border region.