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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