PM Modi to chair the 13th BRICS summit today

·         As part of India's ongoing presidency of BRICS in 2021, Prime Minister Narendra Modi will chair the 13th Brazil, Russia, India, China and South Africa summit in virtual format today.

·         The theme of the summit is BRICS@15: Inter-BRICS Cooperation for Continuity, Consolidation and Consensus. India has outlined four priority areas for its presidency.

·         The meeting will be attended by Brazilian President Jair Bolsonaro, Russian President Vladimir Putin, Chinese President Xi Jinping and South African President Cyril Ramaphosa.

·         This is the second time that Prime Minister Modi will chair the BRICS summit. Earlier he had presided over the Goa summit in 2016.

Important Facts

About BRICS

v  BRICS is the acronym coined to associate five major emerging economies: Brazil, Russia, India, China, and South Africa.

v  Headquarters: BRICS Tower

v  Purpose: Political

v  Founded: June 2006

v  Funding: Member states

v  Subsidiary: New Development Bank

v  Founders: China, Brazil, Russia, United Nations General Assembly