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BRICS

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Sourav Singh

The document discusses BRICS, an association of five major emerging economies: Brazil, Russia, India, China and South Africa. It provides background on BRICS, including its history beginning in 2001, annual summits that began in 2009, the addition of South Africa in 2010, and the establishment of financial structures like the New Development Bank in 2014. In summary, BRICS represents over 3.6 billion people and has a combined GDP of $16.6 trillion, and focuses on areas like infrastructure development, poverty reduction, and establishing independent financial institutions.

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BRICS Presented By SOURAV DEEP SINGH Roll no.:101508121
CONTENTS INTRODUCTION HISTORY SUMMITS ABOUT BRICS FORUM CHALLENGES ADVANTAGES DISADVANTAGES CONCLUSION
ABOUT BRICS BRICS is the acronym for Brazil, Russia, India, China and South Africa. It is an association of five major emerging national economies. They are distinguished by their large, fast growing economies and significant influence on regional and global affairs The five BRICS countries represent over 3.6 billion people, or half of the world population. The five nations have a combined GDP of US$16.6 trillion. Bilateral relations conducted on the basis of non- interference, equality, and mutual benefit.
HISTORY The term "BRIC" was coined in 2001. It was coined by the then-chairman of Goldman Sachs Asset Management, Jim O'Neill. The foreign ministers of the initial four BRIC states met in New York City in September 2006. A full-scale diplomatic meeting was held in Yekaterinburg, Russia, on 16 June 2009.
FIRST BRIC SUMMIT The first formal summit was held in Yekaterinburg on 16 June 2009. The summit's focus was on improving the global economic situation and reforming financial institutions. Discussed how the four countries could better co-operate in the future. The BRIC nations announced the need for a new global reserve currency.
ENTERY OF SOUTH AFRICA South Africa became a member nation on 24 December 2010. The group was renamed BRICS. In April 2011, the President of South Africa, Jacob Zuma, attended the 2011 BRICS summit in Sanya, China, as a full member.
SUMMITS Summit Date Venue 1st 16-Jun-09 Yekaterinburg, Russia 2nd 15-Apr-10 Brasilia, Brazil 3rd 14-Apr-11 Sanya, China 4th 29-Mar-12 New Delhi, India 5th 26-27 Mar-13 Durban, South Africa 6th 14-16July-14 Fortaleza, Brazil 7th 89 July-15 Ufa, Russia 8th 1516 OcT-16 Goa, India 9th 2017 Xiamen, China
ABOUT BRICS FORUM Formed in 2011. It is an independent international organization that works for a structured social, economic and environmentally sustainable BRICS block. Currently the forum is working on building partnerships and collaborating with member state institutions.
FOCUS OF BRICS FORUM To develop a development bank to balance the influence of the World Bank and IMF Business Governance and leadership Science and technology Poverty Investment landscape To remove trade barriers Healthcare Innovation in building infrastructure
BRICS GROWTH
FINANCIAL STRUCTURE NEW DEVELOPMENT BANK Treaty was signed in 2014 and became active in 2015. It is a multilateral development bank operated by the BRICS states. Its focus will be on lending of up to $34 billion annually for infrastructure projects. The bank will have starting capital of $50 billion, with capital increased to $100 billion over time. The bank is headquartered in Shanghai, China. K. V. Kamath was appointed as the President of the bank
Why BRICS need NDB? Growing emerging market. International economic growth. Financial assistant. Populations control. Climate change, food and energy security.
CHALLANGES Development of BRICS bank. Reduce the urban-rural income gap. Maintaining macroeconomic stability. Inadequate financial reform. Managing supply chain. Addressing gender inequalities. To remove trade barriers. Optimum use of resources. To achieve regional development. Building relationship.
ADVANTAGES Large population provides a large work force. Block foreign terrorists and blocking sources of financing terrorism. Increase trade between the BRICS nations. Establishment independent financial institution. Rapid expansion of the middle class will boost the economy. Less dependent on exports. Extremely rich in resources such as coffee, sugarcane, iron and crude oil etc.
DISADVANTAGES Population problem. Lack of infrastructure. Decline in economy and population in Russia. On going conflicts with the neighboring countries. Corruption.
TARGET SECTOR FOR BRICS TRADE Manufacturing, services and agriculture. Construction and water provision. The green economy and tourism. Energy, infrastructure, mining beneficiation. Increase healthcare.
CONCLUSION The BRICS have come together in a political grouping in a way that has far exceeded most expectations. Although BRICS cooperation has been significant , intra BRICS competition and rivalry are important limits on how much further BRICS cooperation can go.
THE END

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BRICS

  • 1. BRICS Presented By SOURAV DEEP SINGH Roll no.:101508121
  • 2. CONTENTS INTRODUCTION HISTORY SUMMITS ABOUT BRICS FORUM CHALLENGES ADVANTAGES DISADVANTAGES CONCLUSION
  • 3. ABOUT BRICS BRICS is the acronym for Brazil, Russia, India, China and South Africa. It is an association of five major emerging national economies. They are distinguished by their large, fast growing economies and significant influence on regional and global affairs The five BRICS countries represent over 3.6 billion people, or half of the world population. The five nations have a combined GDP of US$16.6 trillion. Bilateral relations conducted on the basis of non- interference, equality, and mutual benefit.
  • 4. HISTORY The term "BRIC" was coined in 2001. It was coined by the then-chairman of Goldman Sachs Asset Management, Jim O'Neill. The foreign ministers of the initial four BRIC states met in New York City in September 2006. A full-scale diplomatic meeting was held in Yekaterinburg, Russia, on 16 June 2009.
  • 5. FIRST BRIC SUMMIT The first formal summit was held in Yekaterinburg on 16 June 2009. The summit's focus was on improving the global economic situation and reforming financial institutions. Discussed how the four countries could better co-operate in the future. The BRIC nations announced the need for a new global reserve currency.
  • 6. ENTERY OF SOUTH AFRICA South Africa became a member nation on 24 December 2010. The group was renamed BRICS. In April 2011, the President of South Africa, Jacob Zuma, attended the 2011 BRICS summit in Sanya, China, as a full member.
  • 7. SUMMITS Summit Date Venue 1st 16-Jun-09 Yekaterinburg, Russia 2nd 15-Apr-10 Brasilia, Brazil 3rd 14-Apr-11 Sanya, China 4th 29-Mar-12 New Delhi, India 5th 26-27 Mar-13 Durban, South Africa 6th 14-16July-14 Fortaleza, Brazil 7th 89 July-15 Ufa, Russia 8th 1516 OcT-16 Goa, India 9th 2017 Xiamen, China
  • 8. ABOUT BRICS FORUM Formed in 2011. It is an independent international organization that works for a structured social, economic and environmentally sustainable BRICS block. Currently the forum is working on building partnerships and collaborating with member state institutions.
  • 9. FOCUS OF BRICS FORUM To develop a development bank to balance the influence of the World Bank and IMF Business Governance and leadership Science and technology Poverty Investment landscape To remove trade barriers Healthcare Innovation in building infrastructure
  • 11. FINANCIAL STRUCTURE NEW DEVELOPMENT BANK Treaty was signed in 2014 and became active in 2015. It is a multilateral development bank operated by the BRICS states. Its focus will be on lending of up to $34 billion annually for infrastructure projects. The bank will have starting capital of $50 billion, with capital increased to $100 billion over time. The bank is headquartered in Shanghai, China. K. V. Kamath was appointed as the President of the bank
  • 12. Why BRICS need NDB? Growing emerging market. International economic growth. Financial assistant. Populations control. Climate change, food and energy security.
  • 13. CHALLANGES Development of BRICS bank. Reduce the urban-rural income gap. Maintaining macroeconomic stability. Inadequate financial reform. Managing supply chain. Addressing gender inequalities. To remove trade barriers. Optimum use of resources. To achieve regional development. Building relationship.
  • 14. ADVANTAGES Large population provides a large work force. Block foreign terrorists and blocking sources of financing terrorism. Increase trade between the BRICS nations. Establishment independent financial institution. Rapid expansion of the middle class will boost the economy. Less dependent on exports. Extremely rich in resources such as coffee, sugarcane, iron and crude oil etc.
  • 15. DISADVANTAGES Population problem. Lack of infrastructure. Decline in economy and population in Russia. On going conflicts with the neighboring countries. Corruption.
  • 16. TARGET SECTOR FOR BRICS TRADE Manufacturing, services and agriculture. Construction and water provision. The green economy and tourism. Energy, infrastructure, mining beneficiation. Increase healthcare.
  • 17. CONCLUSION The BRICS have come together in a political grouping in a way that has far exceeded most expectations. Although BRICS cooperation has been significant , intra BRICS competition and rivalry are important limits on how much further BRICS cooperation can go.