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During the BRICS Summit on Saturday, PM Modi was seen holding hands with Putin and Jinping.
Today is the last day of BRICS summit. There will be an open meeting today, in which leaders of member countries and heads of other invited countries will participate.
Many important issues related to BRICS will be discussed in the meeting. After this, PM Modi will hold separate bilateral meetings with the leaders of 4 countries.
On the first day of the summit, India made it clear that at present there is no proposal for BRICS countries to create any common currency of their own.
However, the Ministry of External Affairs said that discussions are definitely going on in BRICS to promote mutual trade and payments in local currency. Its objective is to ease trade between countries and reduce transaction costs.
BRICS countries approved New Delhi Declaration
BRICS countries approved the New Delhi Declaration during the summit on Saturday. In this, a joint statement was issued on many issues.
In the declaration, BRICS countries including Russia and China condemned the Pahalgam terrorist attack. The countries said that joint action will be taken against those who shelter terrorists.
Along with this, it was also agreed to stop the funding reaching the terrorists and take action against those who provide them safe haven.
The agreement to issue a joint statement among the BRICS countries has come at a time when there is tension in West Asia and Iran, Saudi Arabia and UAE have different stances on many issues.
5 important things about PM Modi’s statement at BRICS Summit
- Create a new agenda for the next 20 years: Proposal to create a new agenda for the next 20 years of BRICS and a permanent system for implementing the decisions.
- The Global South should take part in making the rules: Emphasis on equal participation of developing countries in setting rules for AI, cyberspace, space and biotechnology.
- Prepare the youth: Suggestion to provide training in negotiation and law to young diplomats and policy makers.
- Emergency networks should be created for sailors: Talk about creating a network between countries to provide treatment, contact with family and safe evacuation of sailors in trouble.
- Everyone’s future, everyone’s decision: Modi said- If the future of the world is shared then all the countries should have the right to decide it.
PM Modi on Saturday announced the formal launch of BRICS Summit 2026.
Iran-UAE Presidents held talks amid tension
Iranian President Masoud Pazhakian met UAE President Sheikh Mohammed bin Zayed on the sidelines of the BRICS Summit.
This meeting of the two leaders has taken place at a time when tension has increased in West Asia and the stances of the two countries are different on many regional issues.
However, Iran and UAE have been trying to improve relations for the last few years. In such a situation, this meeting is a sign of keeping the path of dialogue open between the two countries amid tension.
BRICS’ growing challenge for western countries
BRICS countries are now trying to reduce the use of dollars while doing business among themselves. For this, they want to increase transactions in each other’s respective currencies.
Besides, work is also being done on connecting the online payment systems of different countries. However, currently BRICS does not have its own payment system or a common currency.
In the BRICS Summit to be chaired by India this year, emphasis will also be laid on trading in its own currency and easy online payments. India wants the digital payment systems of BRICS countries and their digital currency to be linked.
This can make it easier to send money from one country to another and reduce the need for dollars every time.
The name of BRICS came from a bank report
BRICS was started not by any government, but by the report of a bank. In 2001, economist Jim O’Neill of the American investment bank Goldman Sachs used the term BRIC in his report. He described Brazil, Russia, India and China as fast growing large economies.
BRIC was not an organization then. In 2006, the four countries came together and formed the BRIC group. Its first official meeting was held in Yekaterinburg, Russia in 2009.
After South Africa joined in 2010, its name became BRICS. Last year, Iran, Egypt and Ethiopia also became full members.
Today BRICS is included in the world’s major economic forums. The share of its member countries in global GDP is more than 27%, while that of the European Union is about 14%.
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Also read these news related to BRICS…
1. Joint statement of BRICS condemns Pahalgam attack: Emphasis on stopping terror funding; Said- Together we will take action against those who give shelter to terrorists.
BRICS countries including Russia and China have condemned the Pahalgam terrorist attack. The countries said that joint action will be taken against those who shelter terrorists. Read the full news…
2. Putin’s taunt on America-Europe: Why do weak countries call themselves G7; Modi said- 40% of world’s GDP in BRICS countries
BRICS leaders, including Prime Minister Narendra Modi and Russian President Vladimir Putin, spoke on global trade at the BRICS Business Forum on Friday. Read the full news…
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