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Current Affairs-Topics
Modi to Join 16th BRICS Summit in Russia: Key Highlights
On October 22-23, 2024, Modi will visit Kazan, Russia, hosted by President Vladimir Putin. The summit aims to strengthen multilateralism for global development and security, with new BRICS members joining. |
Visit Details and Context
- Dates: October 22-23, 2024
- Location: Kazan, Russia
- Host: President Vladimir Putin
- Modi's second Russia visit in 2024
- Summit theme: "Strengthening Multilateralism for Just Global Development and Security"
Summit Significance
- Platform for key global discussions
New BRICS members joining:
-
- Egypt
- Ethiopia
- Iran
- UAE
- Represents 42% of world population
- Accounts for 23% of global economy
- Focus on economic sovereignty
- Plans for partner-country category expansion
Bilateral Engagements
Confirmed Meetings:
-
- Bilateral talk with Putin on October 22
- Discussions with BRICS counterparts
Potential Discussions:
-
- Possible meeting with Xi Jinping
- Gaza situation on agenda
- Palestinian President Mahmoud Abbas invited
- Infrastructure projects discussion:
- Arctic Sea route
- North-to-South corridor
Strategic Importance
- Assessment of BRICS initiatives
- Future collaboration opportunities
Economic cooperation focus:
-
- Trade enhancement
- Defense partnerships
- Technology collaboration
- Global development goals
- Security considerations
- Multilateral approach to international issues
BRICS: A Geopolitical organization comprising G20 countries
- BRICS (Brazil, Russia, India, China, South Africa)
- South Africa joined the bloc a year later.
- Iran, Egypt, Ethiopia, and the United Arab Emirates joined on 1 January 2024.
- The group comprises about 30% of the world's land surface and 45% of the global population.
- Bilateral relations are based on non-interference, equality, and mutual benefit.
- The first formal summit was held in Yekaterinburg in 2009.
- Saudi Arabia is yet to officially join, but participates in the organization's activities.
- BRICS is considered the leading geopolitical rival to the G7 bloc.
- In 2012, BRICS pledged $75 billion to boost the IMF's lending power.
- In 2013, the group agreed to create a global financial institution.
- In 2014, the group signed a document to create a US$100 billion New Development Bank and a reserve currency pool.
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