PM Narendra Modi’s Visit to Russia for BRICS Summit
Prime Minister Narendra Modi has embarked on a two-day visit to Russia to participate in the 16th BRICS Summit held in Kazan from October 22-24. The summit, chaired by Russia, focuses on the theme ‘Strengthening Multilateralism for Just Global Development and Security.’
Key Objectives of the Summit
The summit provides a platform for leaders to discuss global issues and assess the progress of BRICS initiatives. It aims to identify potential areas for future collaboration among member countries.
India’s Role and Agenda
Indian Ambassador to Russia, Vinay Kumar, emphasized India’s commitment to economic cooperation within BRICS. Key topics include economic cooperation, trade settlement in national currencies, sustainable development, digital inclusion, and financial inclusion of marginalized communities.
PM Modi’s Bilateral Meetings
During the visit, PM Modi is expected to hold bilateral meetings with BRICS leaders, including a confirmed meeting with Russian President Vladimir Putin. The discussions will focus on enhancing India-Russia relations and achieving a trade target of USD 100 billion by 2030.
BRICS Expansion
BRICS, originally formed by Russia, India, and China, expanded to include South Africa in 2010. In 2024, five new members joined: Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates.
Doubts Revealed
PM Narendra Modi -: PM Narendra Modi is the Prime Minister of India, which means he is the leader of the Indian government.
BRICS Summit -: The BRICS Summit is a meeting of leaders from five countries: Brazil, Russia, India, China, and South Africa. They discuss important global issues like economy and security.
Kazan -: Kazan is a city in Russia where the 16th BRICS Summit is being held. It’s known for its rich history and cultural diversity.
Economic cooperation -: Economic cooperation means countries working together to improve their economies, like trading goods and services or investing in each other’s businesses.
Trade in national currencies -: Trade in national currencies means countries exchanging goods and services using their own money instead of using a common currency like the US dollar.
Sustainable development -: Sustainable development is about growing the economy in a way that doesn’t harm the environment and ensures resources are available for future generations.
Bilateral ties -: Bilateral ties refer to the relationship between two countries, in this case, India and Russia, working together on various issues like trade and security.
USD 100 billion trade target -: The USD 100 billion trade target is a goal set by India and Russia to increase the amount of goods and services they exchange to be worth 100 billion US dollars by the year 2030.
Five new members -: BRICS is expanding to include five new countries in 2024, which means more countries will join the group to work together on global issues.
