BRICS Current Affairs - 2019
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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
India’s Ravi Prakash has won the BRICS-Young Innovator Prize at 4th BRICS -Young Scientist Forum’s Conclave held during 6-8 November2019 in Brazil. He won the first first prize carrying $25,000 for inventing an affordable indigenous milk chilling unit for smaller and marginal rural dairy farmers.
Ravi Prakash He is a PhD scholar of ICAR-National Dairy Research Institute (NDRI), Bangalore. He was a part of 21-member delegation sent to Brazil by Department of Science and Technology (DST) for the 4th BRICS-Young Scientist Forum (YSF), 2019.
Technology: It can be used for chilling milk from point of production by bringing down the temperature of raw milk from 37C to 7C within half an hour (30 minutes) using nano-fluid based phase change materials.
This innovation of affordable indigenous milk chilling unit is of great socio-economic importance for all the developing countries by preserving the quality and safety of milk just after production. It will add value in farmer’s kitty.
About BRICS Young Innovator Prize
Background: On July 2014, during the 6th BRICS Summit held in Fortaleza, Brazil, Indian Prime Minister Narendra Modi mooted the idea of youth engagement and desired to develop an innovative mechanism to engage, network and connect BRICS youth. Eventually, India’s proposal for creating a BRICS-Young Scientist Forum received unanimous support and was endorsed by BRICS Science, Technology and Innovation Ministers at 2nd Science, Technology and Innovation (STI) Ministerial Meeting held in Brasilia on March 2015.
Objective: To recognise and reward best results related to innovation, research and development projects representing technological innovation and a potential contribution to science and technology sector of BRICS (Brazil, Russia, India, China and South Africa) countries.
The prize specially recognizes young talented researchers and entrepreneurs, whose outstanding innovations make a profound impact on socio-economic environment as well as life conditions in societies of BRICS nations.