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BRICS Summit 2022- Key Outcomes

BRICS Summit 2022- Relevance for UPSC Exam

BRICS Summit 2022: 14th BRICS Summit was recently held virtually under the chairmanship of Chinese President. BRICS is an important grouping from India’s perspective. BRICS grouping will come under UPSC Mains GS Paper 2 (International Relations- Bilateral, regional and global groupings and agreements involving India and/or affecting India’s interests.)

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BRICS Summit 2022 in News

  • Recently, Prime Minister Shri Narendra Modi led India’s participation at the 14thBRICS Summit 2022.

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14th BRICS Summit 2022

  • About: BRICS Summit 2022 was convened under the Chairmanship of President Xi Jinping of China on 23-24 June 2022, in a virtual format.
  • Participation: Along with Indian Prime Minister, President Jair Bolsonaro of Brazil, President Vladimir Putin of Russia, and President Cyril Ramaphosa of South Africa also participated in BRICS 2022 Summit.
    • Guest Countries: Algeria, Argentina, Cambodia, Egypt, Ethiopia, Fiji, Indonesia, Iran, Kazakhstan, Malaysia, Senegal, Thailand and Uzbekistan also participated as guest countries in the BRICS 2022 Summit.
  • BRICS 2022 theme: XIV BRICS Summit was held under the theme “Foster High-quality BRICS Partnership, Usher in a New Era for Global Development”.

12th BRICS Agriculture Ministers Meeting 2022

 

BRICS Summit 2022 Outcome- Beijing Declaration

  • On Russia-Ukraine Crisis: BRICS Beijing declaration supported resolution of Russia-Ukraine Conflict through peaceful diplomatic mechanisms.
    • In this context, BRICS showed its willingness to support the United Nations and the International Committee of the Red Cross (ICRC)’s efforts to deliver humanitarian assistance to Ukraine.
  • On Afghanistan Issue: BRICS countries showed their concerns about deteriorating situation in the Taliban-led Afghanistan.
  • On Terrorism: BRICS countries condemned any form of terrorism and reiterated that only UN Security Council has the authority for imposing sanctions of any organization.

 

 

India at BRICS Summit 2022

  • India called for strengthening of the BRICS Identity and proposed establishment of Online Database for BRICS documents, BRICS Railways Research Network, and strengthening cooperation between MSMEs.
    • India will be organizing BRICS Startup event this year to strengthen connection between Startups in BRICS countries.
  • Prime Minister highlighted-
    • India’s development partnership with Africa, Central Asia, Southeast Asia, and from Pacific to Caribbean;
    • India’s focus on a free, open, inclusive, and rules-based maritime space;
    • Respect for sovereignty and territorial integrity of all nations from the Indian Ocean Region to Pacific Ocean; and
    • Reform of multilateral system as large parts of Asia and all of Africa and Latin America have no voice in global decision-making.
  • India noted the importance of circular economy and invited citizens of participating countries to join Lifestyle for Environment (LIFE) campaign.

 

About BRICS Grouping 

  • About: BRICS is an acronym for the grouping of the world’s leading emerging economies, namely Brazil, Russia, India, China, and South Africa.
  • Background: In 2001, Goldman Sachs’ Jim O’Neill authored a paper called “Building Better Global Economic BRICs”, pointing out that future GDP growth in the world would come from China, India, Russia, and Brazil.
    • Though the paper did not recommend any formal grouping, it said that BRIC economies combined would outstrip the western dominated world order before 2039.
  • BRICS Formation: In 2006, leaders of the BRIC countries met on the margins of a G-8 (now called G-7) summit in St. Petersburg, Russia, and BRIC was formalized that year.
    • Shortly afterward, in September 2006, the group was formalized as BRIC during the 1st BRIC Foreign Ministers’ Meeting, which met on the sidelines of the General Debate of the UN Assembly in New York City.
    • First formal summit: took place in 2009 in the Russian Federation and focused on issues such as reform of the global financial architecture.
    • South Africa was invited to join BRIC in December 2010, after which the group adopted the acronym BRICS.
    • South Africa subsequently attended the Third BRICS Summit in Sanya, China, in 2011.
  • BRICS Headquarters: BRICS doesn’t have any headquarter rather all the countries of BRICS have offices dedicated to BRICS in their own nation.
  • BRICS Structure: BRICS does not exist in the form of organization, but it is an annual summit between the supreme leaders of five nations.
  • BRICS Presidency: The Chairmanship of the forum is rotated annually among the members, in accordance with the acronym B-R-I-C-S.
    • India had the BRICS Presidency from January 2021.
    • Currently, China has the BRICS Presidency.
  • BRICS Significance: BRICS Member Countries together represent-
    • 41% of the Global Population
    • 24% of the Global GDP and
    • 16% of the Global Trade

BRICS Business Forum 2022

BRICS Business Forum 2022

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