PM Modi Lands in Russia for BRICS Summit 2024

Prime Minister Narendra Modi reaches Kazan, Russia, for the 16th BRICS Summit. He was warmly welcomed by people of Kazan while landing there. The summit to be held under Russia's chairmanship will take place from October 22 to October 24, 2024. This is perhaps one of the most important summits for BRICS with its membership now expanded to ten nations.

This BRICS Summit 2024

The 16th BRICS Summit is a very important event for the alliance, which will discuss economic cooperation, trade, and geopolitical issues. In 2006, this alliance was created as "BRIC" by Brazil, Russia, India, and China and was expanded in 2010 with South Africa. Till January 2024, BRICS has been joined by five other nations, including Ethiopia, Iran, Saudi Arabia, Egypt, and the UAE, thereby elevating its membership to ten in total. BRICS unites emerging markets to challenge western powers, largely North America and Europe, in world governance. The member countries now make up 45 percent of the world's population and 28 percent of the world economy. 

Role of India at the Summit

India's presence at the BRICS Summit is significant. The Prime Minister will have bilateral meetings with BRICS member country heads, wherein he would confront them in talks with respect to strengthening bilateral economic partnerships and cooperation in defense and energy sectors. A one-to-one meeting with Russian President Vladimir Putin might cover discussions on issues such as the Ukraine crisis, energy security, and India's defense relationship with Russia.

BRICS Expansion and Global Impact

Adding Iran, Saudi Arabia, and the UAE has further strengthened BRICS' world status, especially in oil and other energy resources. Overall, the countries account for 44% of total crude oil production worldwide and therefore make BRICS a crucial entity in the energy sector. The group also demands greater influence of developing countries in the operations of global institutions like the IMF and the World Bank.

Inputs by Agencies 

Image Source: Multiple Agencies 

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