Then
BRICS summit is an acronym for Brazil 🇧🇷, Russia 🇷🇺, India 🇮🇳, China 🇨🇳 , and South Africa 🇿🇦, the strong grouping of world's leading and ushering marketing economics of this time.
BRICS creates opportunity for peace, security and development to all nations under it, and more cooperation towards humanity for a more beneficial fair world 🌎 market.
The first creation of BRIC session took place on 16th June 2009 in Yekaterinburg, Russia where the elected officials of 4 nations declared the BRIC economic bloc open. South Africa 🇿🇦 was invited to join in 24th Dec.2010 which formed BRICS.
Since its formation, it had a positive effect on international economic growth and systems.
In 2010 China 🇨🇳 became the second biggest economy in the globe.
India currently ranks as the 10th biggest economy as per GDP, and 4th in terms of GDP at PPP (= purchasing power parity).
In 2011 Brazil 🇧🇷 became world's 6th grade in economy.
Russia 🇷🇺 is currently the globe's 9th largest economy and South Africa 🇿🇦 ranked as the 26th biggest economy of today.
Present heads of member states are Brazil President Jair Bolsonaro, Russian President Vladimir Putin, Indian Prime Minister Narendra Modi, and China's part Xi Jinping and finally the same counter part of South Africa is Lyril Ramaphosa.
The start and continuation of this meet is redirected from UNGA, United Nations General Assembly, 61st session of which took place 15 years ago in Sept. 2006 when for Brazil, Celso Amorim, for Russia, Sergey Lavrov, and Vladimir Putin, Pranab Mukherjee for India, and finally President Li Zhaoxing for China headed the summit.
The 1st BRIC summit took place 13 years ago on 16th June 2009 when President Lula da Silva headed Brazil 🇧🇷, President Dmitry Medvedev leaded Russia 🇷🇺, then prime minister Mr. Manmohan Singh headed India, and President Hu Jintao lead China 🇨🇳. Till then many summits took place each year circulating each country's term one by one each year. HQ of BRICS is in BRICS tower, at Shanghai People's Republic of China 🇨🇳.
BRICS is also equipped with financial backgrounds by NDB = New Development Bank, which was formerly known as BRICS D B =BRICS Development Bank, whose CEO and President at present is Marcos Prado Troyjo. The NDB looks after all demands and trusts and needs of nations under it from time to time.
Latest country Iran 🇮🇷 has applied for the membership of BRICS on 28th June 2022, in the summit held at China.
Formerly chairman of NDB of BRICS who completed his 5 year term last year on 2021. As per World Bank data of 2019, the extent of BRICS include 41% of the world's population, 29.3% of total land surface area, acquiring 24% of global GDP, and covering 16% of whole world's trade. This is remarkable as per the spread of influence and growth.
But in this China summit of 2022, the leading developing countries, for whom India cannot be unsupportive of their future decisions are tending desires towards anti- western agenda by the two heads Xi and Putin of China and Russia, by this move also diluting India's influence, and also making multi-alignment strategy offered by India more unstable, keeping India to opt for socialist countries, neglecting the western world.
Do think about this, till next, Subir Kumar Ghosh.
