11th BRICS Summit Current Affairs - 2020
PM Modi attended the 11th BRICS summit and invited business leaders from BRICS nations to invest in India, especially in infrastructure development.
Highlights of the summit
- The BRICS countries discussed in creating a common crypto currency for mutual payments. The step was being discussed to reduce the share of payments in USD.
- PM Modi proposed the first meeting of BRICS Water Ministers in India.
- India is to host BRICS Digital Health Summit. The Summit will focus on innovative solutions to healthy lifestyle
- India will also host BRICS Youth summit that will focus on hackathon, startups and games
- Also, BRICS workshop on digital forensics is to be held in India
BRICS Business Council
The BRICS Business Council created a road map to achieve 500 billion USD trade target among BRICS nations by next summit. An agreement was signed between New Development Bank and BRICS Business Council to achieve this.
PM Modi met his Russian counterpart Mr Vladimir Putin on the sidelines of the 11th BRICS summit.
- During their meet, the leaders noted their satisfaction that the 25 billion USD trade target between the countries to be achieved by 2025 has already been achieved.
- Also, the leaders discussed about the first bilateral regional forum to dismantle the barriers of trade at regional level.
PM Modi met the President of Brazil Mr Jair MEssias Bolsonaro and invited him to be the Chief Guest at the Republic Day celebrations, 2020.
- After the meet, PM Modi outlines areas of animal husbandry, agriculture, post-harvest technologies and biofuels as areas of potential
- The leaders also discussed about space and defense sectors
PM Modi met the Chinese President Xi Jinping on the sidelines of the 11th BRICS summit.
- The countries have agreed to hold the next round of border talks after the leaders’ meet. The 21st round of border talks were held in 2018 by Security Advisor Ajit Doval and his Chinese counterpart.
- The Chinese President appreciated the 2nd Informal Summit in Chennai. He also invited PM Modi for the 3rd informal summit to be held in China in 2020.
- The leaders reviewed the preparations for celebrating the 70th anniversary of establishment of diplomatic relations between the countries.
Tags: 11th BRICS Summit • BRICS • BRICS Bank • Cryptocurrency • Foreign Investments in India
Brazilian President Jair Bolsonaro has accepted Prime Minister Narendra Modi’s invitation to be Chief Guest at India’s Republic Day celebrations in 26 January 2020.
Prime Minister Modi met Bolsonaro on the sidelines of 11th BRICS Summit, which is being held in Brasilia, Brazil. During the meeting, PM Modi invited the President of Brazil to be chief guest at Republic Day in 2020 which was accepted by Bolsonaro with pleasure.
Both leaders agreed to comprehensively enhance strategic partnership between the two countries as well as discussed other areas of cooperation including space and defence sectors.
India-Brazil: Both countries look forward to discuss matters relating to trade in upcoming visit. The Brazilian President informed PM Modi that a large business delegation will accompany him to India,
PM Modi has also outlined areas for potential investment from Brazil, including in areas of animal husbandry, agricultural equipment, post-harvest technologies and biofuels. He also welcomed decision of the Brazilian President to grant visa-free travel to Indian citizens.
Previous Invitees at Republic Day celebrations
In 2016, former French President François Hollande was the chief guest. In 2017, Crown Prince Mohammed bin Zayed Al Nahyan of United Arab Emirates (UAE) took part in the Republic Day celebrations as chief guest. The year 2018 Republic Day celebrations was historic as leaders of 10 ASEAN nations attended the event as chief guests. In 2019, South African President Cyril Ramaphosa was the chief guest and he was also the second South African president, after Nelson Mandela, to attend the grand event as its chief guest.
About Jair Bolsonaro
He is a 38th president of Brazil. Initially, he joined the politics as a city councillor in Rio De Janerio. Before joining Social Liberal Party (PSL) in 2018, he was the member of Christian Democratic Party (CDP). In 2018, he was nominated as the presidential candidate of PSL and became the front-runner after the arrest of Lula Da Silva in April 2018. He then took over the office as the President of Brazil on 1 January 2019.