 "In Graphics: What is Brics? Which countries are part of this group?")
Prime Minister Narendra Modi on Tuesday touched down in Russia’s Kazan city to participate in the 16th Brics Summit, which is being chaired by Russia. During the summit, he is also set to hold bilateral meetings with his counterparts from other Brics member countries.
In a press release, the Ministry of External Affairs (MEA) said, “The Summit, themed ‘Strengthening Multilateralism for Just Global Development and Security,’ will provide an important platform for leaders to discuss key global issues.”
Notably, this visit marks PM Modi’s second trip to Russia this year. He previously visited Moscow in July for the 22nd India-Russia Annual Summit, where he held a bilateral meeting with Russia’s Putin. During that visit, he was also awarded Russia’s highest civilian honour, the Order of St Andrew the Apostle, at the Kremlin.
The Brics group represents 45% of the world’s population and 35% of its economy based on purchasing power parity, with China contributing more than half of this economic strength. This summit is taking place as global finance leaders meet in Washington, set against a backdrop of ongoing conflicts in West Asia and Ukraine, a slowing Chinese economy, and concerns that the upcoming US presidential election may cause new trade disputes.
Bric, as a formal grouping, began after the meeting of the leaders of Brazil, Russia, India, and China in St Petersburg during the G8 Outreach Summit in 2006. This was further solidified during the first meeting of Bric Foreign Ministers on the sidelines of the UN General Assembly in New York that same year. The first Bric summit took place in Yekaterinburg, Russia, in 2009.
In 2010, the group agreed to expand Brics to include South Africa during the foreign ministers’ meeting in New York.
Let’s take a closer look at Brics and its member countries:
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