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BRICS expansion: India could soften its position on eligibility criteria

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BRICS expansion: India could soften its position on eligibility criteria

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Latest World News: BRICS expansion: India could soften its position on eligibility criteria

India could soften its stance on the expansion of the five BRICS countries when the proposal is discussed at the BRICS summit next month and not insist that the standards and qualification criteria declared under discussion, such as minimum GDP and trade with bloc members, be ‘strictly adhered to’ to accommodate countries favored by existing members, sources said.

New Delhi is likely to support the inclusion of around three to five new BRICS members. He would not insist that the qualifying criteria pushed by him, such as a GDP of $400 billion and BRICS trade of $50 billion, be strictly adhered to as long as it can be established that the new countries favored by other BRICS members are indeed emerging economies, a source monitoring the case said. activity area.

  • Also Read: India to Insist on Clear Criteria for BRICS Expansion

About 20 countries have expressed interest in becoming BRICS members, including Brazil, Russia, India, China and South Africa, and a decision on this could be taken at the BRICS summit in Johannesburg in August 2224. Prime Minister Narendra Modi is expected to represent India at the summit.

Pioneers

The favorites for new memberships are Indonesia, Saudi Arabia, Argentina and a few others. All of these countries meet the non-economic parameters of being UN members and democracies, the source said.

India has not been keen on expanding BRICS membership so far, as it is essentially an exercise initiated by China to increase its influence in the grouping. Since almost all other members are now open to the enlargement process, including Brazil, which wants Argentina as a member to increase the weight of Latin America, New Delhi does not want to be the only voice opposing it. Moreover, the favorites for membership are countries with which India has good diplomatic relations, the source said. activity area.

The BRICS now form one of the largest economic blocs in the world, accounting for more than a quarter of global GDP and 42% of the world’s population, according to an UNCTAD report.

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An Overview of Global Events in 2023

In 2023, the world witnessed a myriad of events that left a lasting impact on global affairs. From political developments and economic shifts to environmental challenges and breakthroughs in science and technology, the year was marked by significant changes and a sense of urgency for collective action. Here’s an overview of some of the latest world news in 2023.

Political Unrest and Diplomatic Strides:
In the political arena, several regions experienced unrest and geopolitical tensions. The ongoing conflict in the Middle East continued to dominate headlines, with efforts towards peace and stability remaining elusive. However, there were also moments of diplomatic breakthroughs as nations engaged in dialogues to ease tensions and work towards lasting solutions.

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Economic Transformations:
The global economy faced both challenges and opportunities. Trade disputes between major powers affected markets, while some countries grappled with debt crises. On the other hand, emerging economies showed resilience and promising growth, fueling optimism for a more balanced global economic landscape.

Technological Advancements:
Innovation surged forward in the tech industry, with breakthroughs in artificial intelligence, renewable energy, and space exploration. Quantum computing achieved milestones, promising radical transformations across industries. Renewable energy sources gained traction, with many countries setting ambitious goals to combat climate change.

Climate Crisis and Environmental Resilience:
As the climate crisis intensified, extreme weather events wreaked havoc in various parts of the world. Wildfires, hurricanes, and floods reminded humanity of the urgent need for climate action. In response, governments and communities across the globe doubled down on efforts to reduce carbon emissions, invest in sustainable infrastructure, and protect biodiversity.

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Health and Pandemic Management:
Health remained a global priority as countries continued to combat the COVID-19 pandemic. With the emergence of new variants, vaccination efforts and public health measures remained crucial to curbing the spread of the virus. There were also significant advancements in medical research and technology, offering hope for better preparedness in handling future health crises.

Sports and Cultural Milestones:
Amidst the challenges, the world found moments of joy and unity through sports and culture. International sporting events brought together athletes from diverse backgrounds, promoting solidarity and camaraderie. Cultural exchanges and celebrations showcased the richness of human diversity and fostered mutual understanding.

In conclusion, the year 2023 was a dynamic period filled with significant events that shaped the course of history. From political unrest to technological advancements and environmental challenges, the world witnessed the complexities of the global landscape. While obstacles remained, there were also encouraging developments and collaborative efforts towards a more sustainable, peaceful, and prosperous future for all nations. As we move forward, the lessons learned from these events serve as a reminder of the importance of collective action and cooperation to address shared global challenges.