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.
As discussions continue about increasing energy procurement from America, India states its commitment to safeguarding the interests of Indian consumers amid the ongoing trade talks and tariffs imposed by the US. While there has been no confirmation of a direct conversation between Prime Minister Modi and President Trump on the matter, Indian officials affirm their willingness to diversify their energy portfolio and continue importing from the US. This comes as India seeks to mitigate potential challenges in the global energy market.
In a sweet and heartwarming video, Indian cricket captain Virat Kohli sends his team and fans into a frenzy as he posts a few glimpses of his team's departure for the upcoming Australian tour. The video serves as a reminder of the camaraderie, determination, and skill that makes team India one of the pre-eminent cricket teams in the world. With familiar faces in the mix and special reunions in the making, this video is sure to turn up the excitement for the upcoming challenge.
US President Donald Trump stated that Indian Prime Minister Narendra Modi had assured him that India will stop purchasing oil from Russia, in a meeting with US ambassador-designate Sergio Gor and Modi. This comes after Trump's previous announcement of 25% tariffs on Indian exports to the US for India's continued purchase of Russian oil. However, India has not issued a response to Trump's remarks. This marks a potential strain on the already fraught trade ties between the US and India, as Trump puts trade negotiations on hold until the energy ties between India and Russia are resolved.
Pakistan's Prime Minister Shehbaz Sharif surprised many at the US-brokered Gaza Peace Summit with his unexpected announcement nominating former US President Donald Trump for the Nobel Peace Prize. Sharif praised Trump's "outstanding contributions" for stopping a potential conflict between India and Pakistan, leaving several leaders, including Italy's Giorgia Meloni, visibly taken aback. Meloni's candid reactions have garnered attention in the past, making her the subject of viral videos.
A flotilla attempting to deliver aid to Gaza has been intercepted by the Israeli military, including a ship carrying the well-known activist Greta Thunberg. The flotilla spokesperson has accused Israel of illegal attacks on unarmed humanitarian ships while Israel's foreign ministry maintains that all passengers, including Greta, are safe and healthy. Despite the interception of 30 boats, the Global Sumud Flotilla continues to sail towards Gaza in their mission to break the Israeli blockade.
Canadian Foreign Affairs Minister Anita Anand's first visit to India aims to enhance and expand the bilateral relationship between India and Canada. Prime Minister Modi and Anand discussed ways to strengthen cooperation in various sectors such as trade, technology, energy, agriculture, and people-to-people exchanges. This visit comes after PM Modi's productive meeting with Prime Minister Mark Carney during the G7 Summit earlier this year. External Affairs Minister S Jaishankar also held discussions with Anand to restore and reinvigorate the mechanisms necessary to advance the partnership between the two countries.
In a significant step towards easing tensions between Israel and Hamas, a second group of 13 Israeli hostages has been released and handed over to the International Committee of the Red Cross. These hostages were held by Hamas in the Gaza Strip since the 2023 conflict between the two countries. Their safe transfer to Israeli authorities marks a major milestone in the humanitarian arrangement under the recent ceasefire agreement. This development has brought great relief to the families of the hostages and signals a more stable situation in Gaza, closely monitored by the U.S. and regional leaders.
Lahore, Pakistan erupts in chaos and violence as members of the Tehreek-e-Labbaik party take to the streets to protest the alleged shooting and critical injury of their leader Saad Rizvi by Pakistani security forces. The TLP claims that over 180 protesters have been killed and over 1900 are critically injured in the clash, making it one of the deadliest protests in recent history. The situation is becoming increasingly tense as rumors spread about Rizvi's condition and protesters continue to demand justice for the pro-Palestine movement in Pakistan.
The Indian Army is set to host the United Nations Troop Contributing Countries' Chiefs' Conclave, bringing together senior military leadership from 32 nations that contribute troops for UN peacekeeping missions. The three-day event in New Delhi will focus on addressing operational challenges, evolving threats, and the role of technology in strengthening UN peacekeeping efforts. India, being one of the largest contributors to UN missions, is taking the lead in convening this important forum for sharing best practices and building a shared understanding for future peacekeeping.
In a significant step towards ending the ongoing conflict in Gaza, seven Israeli hostages captured by Hamas in October 2023 have been handed over to the International Committee of the Red Cross. This is part of a peace plan brokered by President Donald Trump which aims to bring an end to the two-year long fighting between Israel and Hamas. The release of the remaining 20 living hostages, as well as the bodies of the 28 dead hostages, is expected to follow shortly.