Pm Modi Current Affairs - 2019

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Facts Box: Indo-Pacific Oceans Initiative

The Indo-Pacific Initiative was proposed by PM Modi for a safe and secure maritime at the East Asia Summit. This indicates that India is ready to play a bigger role in the region where China has been pushing its military assertiveness.

Facts of Indo-Pacific Initiative

  • The idea of the initiative was mooted by the PM when he addressed the East Asia Summit in Thailand.
  • The main objective of the initiative is to achieve safe, secure and a stable maritime domain.
  • The initiative aims to achieve this by creating partnerships among interested states by sustainably using marine resources.
  • To take the initiative forward, India will organize a Indo-Pacific Conclave in Chennai early next year.
  • Japan, Australia and Thailand support the initiative already. And many more ASEAN countries are expected to express their support to the initiative in the near future.
  • The initiative is considered by the experts as an incremental step to the Shangri la dialogue.

Significance of the initiative

  • This will give confidence to minor players of ASEAN that their role in the region will not be diluted
  • It will ensure freedom of navigation, freedom of overflights and the disputed are resolved as per international conventions

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.