BRICS Current Affairs - 2020

India’s Ravi Prakash wins BRICS-Young Innovator Prize

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.

Key Highlights

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.

9th BRICS Trade Ministers Meet held in Brazil

The 9th BRICS Trade Ministers Meet was held in Brasilia, Brazil. It was attended by Union Minister Commerce and Industry Piyush Goyal, during which he deliberated on global economic climate with his counterparts from other member nations.

Key Deliberations at Meet

The global economic outlook is facing grave challenges amidst growing protectionism and rising trade tensions manifested in unilateral measures, therefore, Trade and Investment cooperation between BRICS nations must be advanced.

Growing trend of non-tariff barriers (NTBs) which deny market access is leading to economic uncertainty as well as raising the cost of doing trade for developing countries especially Ministry of Micro, Small and Medium Enterprises (MSMEs). Thus it is important to preserve rules-based trading system and adequate low-cost finance to provide sustainability for MSME. A win-win mindset is also needed from all concerned countries to spur trade & promote equity.

The need of the hour is to develop digital infrastructure, digital skills and institutions particularly in developing and less developed world.

With a view to balanced and equitable outcomes, the BRICS member countries must look at ways and means to increase cooperation amongst themselves across all modes of services.

What is BRICS?

It is an abbreviation for an association of 5 major emerging national economies, namely- Brazil, Russia, India, China and South Africa. The association was founded in 2006 and was originally grouped as first four as “BRIC”, before South Africa joined it in 2010. The BRICS countries comprises of 42% of the world’s population, having 23% of global GDP.