Modi to Join 16th BRICS Summit in Russia: Key Highlights

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.