NEWS: BRICS is a group of major: Emerging economies, Developing countries

Cooperate on:

•        Global politics

•        Economic issues

•        International governance

•        Development

•        Trade and finance

•         Purpose of BRICS

BRICS acts as a platform for:

•        Consultation

•        Cooperation

•        Coordinationà On important global and regional issues.

Main Objectives of BRICS

Promote Multipolar World Order

BRICS wants: A world where power is shared among many countries, not dominated by one country.

Reform Global Governance

BRICS seeks reforms in institutions like:

•        United Nations (UN)

•        IMF

•        World Bank

Economic Cooperation Members cooperate in:

•        Trade

•        Investment

•        Development financing

•        Technology

•        Energy

Voice of the Global South BRICS represents:

•        Developing nations

•        Emerging economies and raises issues related to: Equity, Development, Climate justice

 Why is BRICS Important for India?

Strategic Importance

India uses BRICS to:

•        Promote multi-polarity

•        Balance western dominance

•        Increase influence in Global South

Economic Cooperation

BRICS supports:

•        Trade

•        Investment

•        Development finance

New Development Bank (NDB)

BRICS created: New Development Bank

Purpose: Infrastructure financing, Development projects

Alternative to:

•        World Bank

•        IMF dominance

Global South Leadership

BRICS helps India project itself as:

•        Voice of developing nations

•        Leader of emerging economies

Challenges Within BRICS

Despite cooperation, members have differences:

•        India–China border tensions

•        Different geopolitical interests

•        Economic competition

Thus BRICS is: A cooperation platform, not a military alliance.