PM Modi to attend BRICS

PM Modi is to attend the 11th BRICS summit that is to be conducted in Brazil on November 13, 2019.  He will be accompanied by a large business delegates during the visit. The theme of 2019 BRICS summit is Economic Growth for an Innovative Future

Highlights

  • PM is to attend restricted sessions during the visit. The sessions will focus on opportunities and challenges for the national sovereignty in the world.
  • BRICS Plenary session is to be held where the leaders are to discuss BRICS cooperation for economic development of member nations
  • Meeting of BRICS Business Council is also planned during the summit. During the session the MoUs between the BRICS countries and Investment Promotion agencies are to be signed
  • A joint Declaration will be issued at the end of the summit.

About BRICS

BRICS comprises of 5 major economies namely Brazil, Russia, India, China and South Africa. The member countries of BRICS grouping hold 42% of world’s population, 17% of world trade and 23% of world GDP. In 2018, BRICS commemorated its 10th anniversary in Johannesburg. The two main pillars of BRICS are

  • It helps to consult on issues of mutual interests through meetings
  • Also it helps to promote several sectors like agriculture, education, health, finance, trade, technology and communication.
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