India's No.1 PU & Degree With Integrated IAS & IPS(UPSC/PSC) Training College.
INDIA WELCOMES EGYPT, IRAN, UAE, SAUDI ARABIA, ETHIOPIA TO BRICS
Why in the news?
- India welcomed Egypt, Iran, UAE, Saudi Arabia, and Ethiopia to BRICS at a meeting hosted by Russia.
- Senior diplomat Dammu Ravi led the Indian delegation at the BRICS Foreign Ministers’ Meeting in Nizhny Novgorod, Russia.
- The Ministry of External Affairs spokesperson, Randhir Jaiswal, expressed India’s wholehearted welcome to the new members.
source:wallstreetmojo
About First Ministerial Meeting Post-Expansion:
- The meeting was the first ministerial gathering since the BRICS expansion in
- The new members—Egypt, Ethiopia, Iran, Saudi Arabia, and the UAE—joined Brazil, Russia, India, China, and South Africa as full-fledged members.
- Dammu Ravi, Secretary (Economic Relations) in MEA, represented India at the meeting.
| Understanding is BRICS?
● Definition: BRICS stands for Brazil, Russia, India, China, and South Africa, the world’s leading emerging economies. ● Origin: Coined by British Economist Jim O’Neill in 2001 as BRIC. ● Formalization: First BRIC Foreign Ministers’ meeting in 2006. ● Expansion: South Africa joined in 2010, becoming BRICS. ● 2023 Expansion: Argentina, Egypt, Ethiopia, Iran, Saudi Arabia, and UAE to join from January 1, 2024. ● Statistics: Pre-expansion BRICS represented 41% of the global population, 24% of global GDP, and 16% of global trade. ● Annual Summits: Held since 2009. Associated Article: |
