13th Brics Summit 2021 Theme
The theme for the 13th Brics Summit 2021 was 'BRICS@15: Intra-BRICS cooperation for continuity, consolidation, and consensus. Prime Minister of India, Narendra Modi, held the meeting virtually and chaired this summit.
Therefore, the 13th Brics Summit 2021 is a crucial topic in UPSC. Read further details about the 13th Brics Summit venue, pillars, highlights, and impact.
Importance of 13th Brics Summit
BRICS or 13th Brics Summit 2021 is an important meeting that joins major countries with growing economies incorporating 41% of the world population, 24% of the world's GDP, and around 16% share in the world trade.
- The countries included in BRICS have been the leading engines of global financial growth.
- These join together on important issues, including security, financial, economic, cultural and people-to-people interactions.
13th Brics Summit 2021 - History
BRICS involves gathering the world's significant economies, Brazil, Russia, India, China, and South Africa. Check out the history of the 13th Brics Summit 2021 from 2001 to 2010.
13th Brics Summit 2021 - History
Jim O’Neill, British Economist, introduced the term BRIC describing the economies of Brazil, Russia, India, and China.
The group was standardised during the first meeting of BRIC Foreign Ministers.
The group embraced the acronym BRICS when South Africa was invited to join BRIC in December 2010.
Pillars of 13th Brics Summit 2021
India worked on precise deliverables across all three pillars of intra-BRICS cooperation in 2021. During the 13th Brics Summit 2021, BRICS celebrated its 15th anniversary and remembered the first meeting at the UN General Assembly in 2006.
Political and Security
To enhance cooperation on global and regional security issues. The fundamental priorities under this pillar are improving the multilateral system (involving two groups of countries) and counter-terrorism cooperation.
Economic and Financial
To promote innovative methods to attain sustainable development goals. BRICS countries primarily focus on implementing the BRICS Economic Partnership Strategy 2020-25, Operationalization of the BRICS Agriculture Research Platform, and Cooperation on Disaster Resilience, Innovation Cooperation, and Digital Health and Traditional Medicine.
Cultural and people-to-people exchanges
To enrich intra-BRICS people-to-people contacts in sports, culture, academics, and business through exchanges. Discussions among Parliamentarians, youthful scientists etc., are also held.
Impact of 13th Brics Summit 2021 on Global Financial Institutions
In the financial crisis that occurred in 2008, the dollar-dominated market collapsed. It was one of the primary reasons behind the formation of BRICS or 13th Brics Summit 2021.
- BRICS was established intent that the emerging economies must play a more significant role in the World Economic.
- BRICS has even created the New Development Bank, or NDB, which has worked successfully since 2015.
Important UPSC Topics
Highlights of 13th Brics Summit 2021
Some of the highlights of the 13th Brics Summit 2021 are:
- Prime Minister Narendra Modi spoke on various issues ranging from COVID-19 to counter-terrorism and green tourism.
- He highlighted the importance of the 4Cs - cooperation, continuity, consolidation, and consensus in the theme.
- He stressed that despite the pandemic, over 150 programs were organized by BRICS, of which around 20 were ministerial-level programs.
- He also highlighted that several events occurred for the first time because of the cooperation of the BRICS, such as the very first BRICS Digital Health summit being organized.
- Adopting the BRICS Counter-terrorism action plan, BRICS Alliance for Green Tourism, Innovation cooperation action plan 2021-2024, and the Action plan 2021-2024 for Agricultural cooperation were commended.
- The signing of the BRICS Cooperation on Remote Sensing Satellite Constellation and the finalization of the BRICS Cooperation and Mutual Administrative Assistance in Customs Matters highlight the 13th Brics Summit 2021.
India had previously hosted the BRICS summit twice before- the fourth BRICS summit held in 2012 and the eighth BRICS summit held in 2012.
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