BRICS - Important Notes for All Competitive Exams.

BRICS (Brazil, Russia, India, China & South Africa)

History

The term "BRIC" was coined in 2001 by then-chairman of Goldman Sachs Asset Management, Jim O'Neill, in his publication Building Better Global Economic BRICs.[18] The foreign ministers of the initial four BRIC states (Brazil, Russia, India, and China) met in New York City in September 2006 at the margins of the General Debate of the UN General Assembly, beginning a series of high-level meetings. A full-scale diplomatic meeting was held in Yekaterinburg, Russia, on 16 June 2009.
BRICS brings together five major emerging economies, comprising 43% of the world population, having 37% of the world GDP and 17% share in the world trade

BRICS Summit

Development Activities in BRICS Summit

3rd BRICS Summit - 14 April 2011 in China (Sanya) - First summit to include South Africa alongside the original BRIC countries.
4th BRICS Summit - 29 March 2012 in India (New Delhi) - The BRICS Cable announced an optical fibre submarine communications cable system that carries telecommunications between the BRICS countries.
6th BRICS Summit - 14–16 July 2014 in Brazil (Fortaleza) - BRICS New Development Bank and BRICS Contingent Reserve Arrangement agreements signed.
7th BRICS Summit – 8-9 July 2015 in Russia (Ufa) - Joint summit with SCO-EEU

8th BRICS Summit – October 15-16, 2016 in India (Goa)

India will host the 8th BRICS Summit during its Chairmanship which is scheduled to take place on 15-16 October 2016 in Goa.
The theme of India’s BRICS Chairmanship is Building Responsive, Inclusive and Collective Solutions.

During Indias BRICS Chairmanship, we will adopt five-pronged approach:

Institution building to further deepen, sustain and Institutionalize BRICS cooperation;
Implementation of the decisions from previous Summits;
Integrating the existing cooperation mechanisms;
Innovation, i.e., new cooperation mechanisms; and
ontinuity, i.e., continuation of mutually agreed existing BRICS cooperation mechanisms.

In short, the Indian approach towards its BRICS Chairmanship could be captured by ‘IIIIC or I4C’.

BRICS other Activities

The New Development Bank (NDB) and Contingent Reserve Arrangement (CRA) were signed into treaty at the 2014 BRICS summit in Brazil.
The New Development Bank (NDB) (formerly known as the "BRICS Development Bank")is based in Shanghai.
Baahubali to be screened at BRICS Film Festiva: The Beginning is one among of the four films to be selected for the BRICS Film Festival.

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Reference:

http://brics2016.gov.in/

https://en.wikipedia.org/

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