BRICS Summit 2020 : Daily Current Affairs

BRICS Summit 2020

Prime Minister attended the 12 th BRICS Summit hosted by Russia on November 17 virtually.

The summit is being held in the backdrop of the 75th anniversary of the United Nations and in the midst of the COVID-19 pandemic.
Prime Minister Narendra Modi, in his address at the virtual BRICS Summit, said nations supporting terrorism should be called and that such countries should be "brought to the book".
PM also said, “Terrorism is the biggest problem facing the world today. We have to ensure that the countries that support the terrorists are held accountable and this problem is tackled in an organised manner.”
This year’s theme is ‘Global Stability, Shared Security and Innovative Growth’.
In 2021, BRICS will complete 15 years.
India's vaccine production and delivery capacity will also work in the interest of humanity to tackle the COVID crisis A self-reliant and resilient India post-COVID can be a force multiplier for the global economy, said PM Modi.
Even during the pandemic BRICS has been progressing well. The role of BRICS is significant when it comes to stability.
There is a need for reforms of the UN Security Council and organisations like IMF, WTO.

Leaders discussed intra-BRICS cooperation and key issues in the global context, including:

Reform of the multilateral system
Measures to mitigate the impact of the ongoing COVID-19 pandemic
Cooperation in Counter Terrorism, trade, health, energy and people to people exchanges

BRICS is the acronym coined to associate five major emerging national economies: Brazil, Russia, India, China, and South Africa.
Since 2009, the BRICS nations have met annually at formal summits.
The BRICS is known as an influential bloc that represents over 3.6 billion people, or half of the world’s population. The BRICS countries have a combined GDP of USD 16.6 trillion.
Bilateral relations among BRICS nations are conducted mainly based on non- interference, equality, and mutual benefit.
The primary purpose is to enhance economic and political cooperation among BRICS nations.

India will be taking over the Chairmanship of the BRICS, which would be the third BRICS Presidency for India since its inception after 2012 and 2016.
India will host the 13th BRICS Summit next year.