Home Tags Posts tagged with "Brics"


In the wake of BRICS (Brazil, Russia, India, China, and South Africa) expanding its membership, concerns are growing about the future trajectory and purpose of this international platform. Recent events, such as the contrasting approaches of Russia and India, highlight the divergent paths within BRICS.

BRICS originated in the early 2000s as an attempt to understand global economic transformations. However, it truly gained momentum in 2009 when leaders from Brazil, Russia, India, and China came together for the first BRIC Summit. Their joint statement emphasized support for multilateral rule-making, a multipolar world order, and democratic decision-making in international financial institutions.

Over the years, BRICS aimed to gain a stronger voice in the international financial system, leading to the establishment of the New Development Bank (NDB) in 2013. The NDB was seen both as a challenger to established institutions like the IMF and as a means to democratize global governance.

Despite these initiatives, BRICS has faced challenges, especially as the global balance of power shifts. Russia was once crucial in managing China’s growing economic dominance within the group, but today, fault lines within BRICS are becoming more pronounced. Russia and China are pushing for a more overtly geopolitical agenda, while India and China find it increasingly difficult to find common ground.

The recent expansion of BRICS, which includes Saudi Arabia, Iran, the UAE, Ethiopia, Egypt, and Argentina, raises questions about the group’s purpose. India’s presence is seen as a counterbalance to prevent BRICS-Plus from becoming an anti-Western platform. However, the lack of a clear direction has led some to question the authenticity and purpose of the group.

As BRICS faces these challenges and changes, it must redefine its role and purpose to remain relevant on the global stage.

0 comment
0 FacebookTwitterPinterestEmail

As the G20 Summit approaches, Delhi is bustling with preparations to welcome world leaders for the event on September 9 and 10. Anticipating the participation of around 29 heads of state, along with senior officials from the European Union, representatives from guest countries, and leaders from 14 international organizations, the city has designated more than 30 hotels across Delhi-NCR to accommodate the dignitaries.

Notably, United States President Joe Biden is expected to stay at the ITC Maurya Sheraton. Comprehensive security arrangements are in place, including Secret Service commandos stationed on each floor and a specialized elevator reserved for President Biden’s use, taking him directly to his room on the 14th floor. Approximately 400 rooms at the hotel have been secured for President Biden and his accompanying staff.

Chinese President Xi Jinping’s residence for the summit will be the Taj Palace Hotel, while UK Prime Minister Rishi Sunak will be hosted at the Shangri-La Hotel. French President Emmanuel Macron has chosen the Claridges Hotel, and Australian Prime Minister Anthony Albanese will be accommodated at the Imperial Hotel.

The summit will witness various delegations spread across different hotels. The Turkish group will find their lodgings at the Oberoi Hotel, while representatives from Mauritius, Netherlands, Nigeria, and Spain will be situated at Le Meridien. Both the Chinese and Brazilian groups will be hosted at the Taj Palace Hotel, and the Indonesian and Australian teams will be housed at the Imperial Hotel. Delegates from the UK and Germany will stay at the Shangri-La Hotel.

The Hyatt Regency has been selected to accommodate the Italian and Singaporean teams, while the US group will be lodged at the Maurya Sheraton. The Lodhi Hotel will be the base for the Omani delegation, the Claridges Hotel will host the French team, and the Grand Hyatt in Gurugram will provide accommodations for the Bangladesh group. The Lalit Hotel will cater to both the Canadian and Japanese delegations, and the Oberoi Gurugram will house the Korean delegation. The Egyptian delegation will be situated at the ITC Sheraton in Saket, the Leela Hotel in Gurugram will be the residence for the Saudi Arabian delegation, and the UAE delegation will be hosted at the Taj Mahal Hotel in Delhi.

The participating hotels in Delhi include ITC Maurya, Taj Mansingh, Taj Palace, Hotel Oberoi, Hotel Lalit, The Lodhi, Le Meridien, Hyatt Regency, Shangri-La, Leela Palace, Hotel Ashoka, Eros Hotel, The Surya, Radisson Blu Plaza, JW Marriott, Sheraton, The Leela Ambience Convention, Hotel Pullman, Rosette Hotel, and The Imperial.

In the National Capital Region (NCR), accommodations for attendees will be provided at The Vivanta in Surajkund, ITC Grand in Gurugram, Taj City Centre in Gurugram, Hyatt Regency in Gurugram, The Oberoi in Gurugram, WestINN in Gurugram, and Crown Plaza in Greater Noida.

0 comment
0 FacebookTwitterPinterestEmail

New Delhi, August 29, 2023 – Russian President Vladimir Putin engaged in a productive phone call with India’s Prime Minister Narendra Modi, conveying his regretful inability to attend the upcoming G20 Summit in New Delhi. During the conversation, the two leaders discussed a range of bilateral cooperation matters and shared perspectives on mutual regional and global concerns, including insights from the recent BRICS Summit in Johannesburg.

In his communication, President Putin expressed his regrets about not being able to personally attend the G20 Summit scheduled for September 9-10, 2023. Instead, he confirmed that Russia will be represented by Foreign Minister Sergey Lavrov. Prime Minister Modi responded with understanding and appreciation for Russia’s continued support of India’s initiatives as the host of the G20 Presidency.

Both leaders reaffirmed their commitment to ongoing communication and collaboration. The telephone conversation took place in light of recent reports indicating President Putin’s decision not to personally participate in the G20 summit due to a “busy schedule” and a continued focus on Russia’s “special military operation” in Ukraine.

The G20 summit, anticipated to be one of India’s largest gatherings of world leaders, is set to take place in New Delhi on September 9 and 10. India assumed the G20 Presidency from Indonesia on December 1, 2022.

Kremlin Spokesman Dmitry Peskov confirmed the president’s absence, stating that Putin’s participation format will be determined in due course. President Putin’s remote participation in this week’s BRICS summit in Johannesburg was noted, with Foreign Minister Sergey Lavrov representing him at the event.

President Putin’s decision aligns with his prior non-participation in global summits due to international considerations. In light of the arrest warrant issued by the International Criminal Court (ICC) in March, his absence from the G20 Summit in Bali last year and the recent BRICS summit in Johannesburg underscores his cautious approach.

As the G20 Summit approaches, global leaders will convene in New Delhi to address critical global issues and collaboratively chart a path forward.

0 comment
0 FacebookTwitterPinterestEmail

In 2001, Jim O’Neill, then head of global economics research at Goldman Sachs, introduced the term “BRICs” in a paper highlighting the potential economic growth of Brazil, Russia, India, and China. Initially regarded as a marketing strategy, this concept evolved into a powerful political bloc known as BRICS after South Africa’s inclusion in 2010. As the 15th annual BRICS summit approaches in Johannesburg, South Africa, the group’s significance is being revaluated, with developing nations eager to join its ranks.

Central to this shift is the New Development Bank (NDB), established in 2014 with a $10 billion initial investment from each member country. Headquartered in Shanghai, the NDB has attracted attention as a credible alternative to Western-dominated multilateral financial institutions, addressing unease within the developing world. Smaller stakes from countries like Bangladesh, the UAE, Uruguay, and Egypt further underline its appeal.

The rise of BRICS has raised concerns in Western circles, evident in speculative reports about Indian Prime Minister Narendra Modi’s attendance at the summit. The Western media’s coverage of a potential India-China standoff during the summit underscores the growing clout of BRICS. Despite these uncertainties, BRICS members maintain their unity, with China and India dismissing rumours of discord over expansion.

This gathering momentum is fuelled by more countries expressing interest in joining BRICS, including Saudi Arabia, UAE, Egypt, Algeria, and Argentina. Discontent with the IMF’s regulatory approach has pushed the developing world towards this alternative platform. BRICS aims to offer a counterbalance to Western influence, with China and Russia advocating for a more independent global financial system and currency.

As BRICS expands its presence and influence, nations like India, South Africa, and Brazil are grappling with balancing their agendas within the group. With over 30% of global GDP among its members, BRICS countries seek to challenge the limited influence they hold in institutions like the IMF. Amid the ongoing reform versus replacement debate, India’s focus is on making BRICS a catalyst for a more equitable and reformed multilateralism.

In summary, BRICS has transformed from an economic concept into a geopolitical force that challenges Western dominance. The group’s New Development Bank provides a viable alternative to traditional financial institutions, attracting interest from a growing number of developing nations. BRICS’ collective influence and push for an alternative global financial order are reshaping the international landscape, sparking a re-evaluation of power dynamics on the global stage.

0 comment
0 FacebookTwitterPinterestEmail

Our News Portal

We provide accurate, balanced, and impartial coverage of national and international affairs, focusing on the activities and developments within the parliament and its surrounding political landscape. We aim to foster informed public discourse and promote transparency in governance through our news articles, features, and opinion pieces.


Subscribe my Newsletter for new blog posts, tips & new photos. Let's stay updated!

Laest News

@2023 – All Right Reserved. Designed and Developed by The Parliament News

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?
Update Required Flash plugin