12th BRICS Virtual Summit 2020

What's New ?

 The Prime Minister of India while addressing Virtually held 12th BRICS Summit, he focus on the issues like TERRORISM, COVID-19 pandemic and need to reform in GLOBAL Bodies.

Hosted by : Russia (President Putin)

Location : Virtual (originally in Saint Petersburg, Russia) due to COVID-19 pandemic.

Motto : 'BRICS Partnership for Global Stability, Shared Security and Innovative Growth'

Important Role of BRICS in three Areas :

1. Stability

2. Security &

3. Growth

Participants :

Bolsonaro    - President of    Brazil

Putin             - President of     Russia

Modi             - PM             of       India

Xi                   - President of      China

Ramaphosa - President of    South Africa

12th BRICS Summit : Russia

11th BRICS Summit : Brazil

13th BRICS Summit will be in India.

Major Points :

India's Stand at the 12th BRICS Summit :

1. United Nation (UN) and Other Global Bodies Reforms :

• This year, On the 75th anniversary of the Second World War, we pay tribute to the all vigilant soldiers whom we lost. India lost more than 2.5 million brave soldiers in this war on many fronts like Europe, Africa, and South East Asia.

• This year we are commemorating 75 years of the UN.

• India has been a strong supporter of multilateralism as UN's founding member.

• The Indian culture treats the whole world as one family, so it was natural for us  to support an institution like UN.

• India believe that reforms must be in the UN Security Council (UNSC) and expect support from BRICS nations.

• Other Global Bodies like WTO, IMF, WHO must be refoms according to current realities.

2. On Terrorism :

• Terrorism is the biggest issues in the current world.

• We have to ensure that terrorists and those who support and sponsor terrorists should be held guilty and this problem must be dealt in united manner.

• Russian support to BRICS Counter-Terrorism Strategy, which has acquired a definite shape. India will continue supporting this strategy.

3. COVID-19 Pandemic :

• India were deliver essential medicines to more than 150 countries during COVID-19 Pandemic.

• Need to cooperation among the BRICS Countries on the production of vaccine for COVID-19.

• India will work toward boosting BRICS collaboration in digital health and traditional medicine.

4. Atmanirbhar Bharat :

• India introduced 'Self-reliant India' campaign to the BRICS.

• This make self-reliant and resilient India can be a Force Multiplier for the post-COVID economy.

• Atmanirbhar can contribute strongly to global value chains.

5. Economy :

• BRICS economies will play a prime role in the post-COVID global recovery.

• BRICS nations have more than 42% of the world's population and these nations are also a driving engine of the global economy.

• There is ample scope of scaling up mutual trade between BRICS nations.

• BRICS mutual institutions and systems - such as BRICS-Inter Bank Cooperation Mechanism, New Development Bank, Contingent Reserve Agreement and Customs Cooperation - can also make our contribution effective in global recovery.

Significance for India-China Relation :

• It provides the Indian and the Chinese leadership an opportunity to exchange their thoughts on key priorities in the backdrop of the continue tension in border zone.

• Both the Shanghai Cooperation Organisation and BRICS have provided recent opportunities for exchange of ideas between the two sides.

About BRICS :

• BRICS is an acronym for the grouping of the world's leading emerging economies namely Brazil, Russia, India, China and South Africa.

• Leaders' Summit : Convened annually

• Chairmanship : rotated annually according to its acronym B-R-I-C-S.

• BRICS Countries accounts for about 40% of world population and about 30% of the GDP.

• South Africa was invited to join BRIC in December 2010, after which the group adopted the acronym B-R-I-C-S.

References

Pib

The Hindu