India participated in 10th BRICS Summit. BRICS nation represents 40% of the world’s population and accounts for 22% global economic GDP. It stands for Brazil, Russia, India, China & South Africa, and begin with the first summit in 2009. This year, the 10th summit is held at Johannesburg in South Africa.
The summit’s main focus was on Trump’s unconventional approach to world affairs, particularly the looming trade wars.
BRICS leaders stressed on guidelines based on the WTO i.e. the centrality of the rules-based, transparent, non-discriminatory, open & inclusive multilateral trading.
BRICS partnership on New Industrial Revolution (PartNIR) is to help nations to prepare for the Fourth Industrial Revolution. Also, it is a new strategy for employment, education and skill development as the digital revolution unfolds.
BRICS Business Council is formed to enhance trade and economic cooperation. Surely, the diverse sectors are ranging from financial services, manufacturing, energy, and regional aviation. Also, there is the people-centered approach to development through culture & tourism.
New Development Bank (NDB) came into force in 2015 held in Russia. It provides big loans for infrastructure projects. Right now, it dispersed loans totaling $5.1 Billion to the member countries.
India on the separate front raised the issue of global terrorism at the summit platform. As PM of India, Mr. Modi tried hard to attract the interest of other delegates towards Lashkar-e-taiba, Jaise-e-Mohammed, etc. India participated in 10th BRICS Summit.
Goals That Need to Achieve…
- Reforms of global financial governance to make ease of doing in underdeveloped countries.
- The democratization of the UN, to hear the voice of the even underdeveloped country.
- Expansion of the security council for India and Brazil, but China & Russia did not agree.
So, the overall diplomacy of India as India participated in 10th BRICS Summit, determined its importance at the global stage. Also, it ensures India’s benign presence at global world order.