founders of the Bank in its Articles of Agreement.

…The ARC will be the face of the NDB

in Africa.”
For global development and prosperity, the NDB has also partnered with well-known
international and regional economic organizations. Other multilateral and regional banks
that have signed MoUs with the bank include the European Bank for Reconstruction and
Development (EBRD), the International Development Association (IDA), and the
International Finance Cooperation (IFC), the European Investment Bank (EIB), the
European Bank for Reconstruction and Development (EBRD), the Asian Infrastructure
Development Bank (AIIB), and the Asian Development Bank (ADB).

India and BRICSiv

India shares close economic and cultural ties with its BRICS partners. India attaches great
importance to meeting with BRICS as a forum for organization, discussion and
cooperation on issues in the present times. India's meeting with the BRICS countries can
be seen in the framework of our active and broad-based international engagement to
contribute to building a nonviolent and flourishing world.
India’s alternate with BRICS companions is round US$ ninety-five billion (2013-14 facts
from India's Ministry of commerce and industry). India’s strengths lie in labour, services,
generic pharmaceuticals, and information technology. There are vast synergies with
different BRICS partners that can be used to in addition improve intra-BRICS relations in
these areas.
Political and Security: Development in the global political space for peace, security and
prosperity, to enhance cooperation and dialogue on issues of global and regional security.
Our priorities under this pillar are:
 reform of the multilateral system
 counter terrorism cooperation
Economic and Financial: Expansion of intra-BRICS cooperation in areas such as
commerce, agriculture, infrastructure, small and medium enterprises, energy, finance, and
banking to promote economic growth and development for mutual prosperity.
Recognizing the benefits of employing technological and digital solutions to help the
BRICS countries meet the Sustainable Development Goals, special attention was paid to:
Implementation of the BRICS Economic Partnership Strategy 2020-25.
 Operationalization of BRICS Agricultural Research Forum.
 Collaboration on Disaster Resilience.
 Innovation collaboration.
 Digital health and traditional medicine

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Cultural and people-to-people exchange: To improve intra-BRICS people to people
contacts in academic, cultural, sports, youth, business, throughout usual contacts.
Exchanges among young scientists, Parliamentarians etc. are also held under this pillar of
BRICS collaboration. As Chair, India will work on specific deliverables across all three
pillars of intra-BRICS cooperation in 2021.v
The notion of the New Development Bank, which was put on the BRICS agenda at the
4th Summit held by India in New Delhi in March 2012, is India's main contribution to
BRICS. In August 2012, India held the key Negotiation meeting to move this effort
ahead. The agreement for establishing the bank was signed at the 6th Summit in Brazil in
July 2014, following multiple rounds of discussions and Finance Ministers' conferences.
The bank's headquarters are in Shanghai, with a nearby office in South Africa. The bank’s
primary president is from India.
India has proposed crucial tasks in order to enhance intra-BRICS cooperation. Those
tasks relate to online schooling, and low-priced fitness care platform, a virtual BRICS
university, BRICS language faculties, cooperation in small and medium enterprises,
tourism, kids exchange, a younger Scientists discussion board and catastrophe control.
Because they face numerous similar and distinct issues, the BRICS countries must work
together to develop cost-effective, reasonable, attainable, sustainable, and scalable
scientific solutions. He stated that BRICS account for 41% of the global population with
an increasing number of youth and that the promise demonstrated by young scientists
must be given its due in the global arena. The Indian Prime Minister has made a strong
commitment to strengthening the collaboration among BRICS countries in this critical
area of science, technology, and innovation, which directly affects the welfare and
development of all of our peoples. It is in everyone’s interest to increase the extent,
scope, and effect of the BRICS collaboration.vi Additionally, India has pioneered the
organization of multiple BRICS meetings and other BRICS-related events, hence
assisting in the standardization of such processes. As a result, the country hosting the
Heads of State Summit each year organizes the majority of these meetings and other
initiatives. For example, before the inaugural BRICS summit in Yekaterinburg, Russia in
June 2009, India hosted the first BRICS Academic Forum gathering in New Delhi in May
2009. These meetings, which serve as warm-ups for the BRICS summit, generate ideas
and recommendations that will be included on the summit's agenda. These discussions
have been held every year before the Heads of State meeting since 2010, and they are
coordinated by the country that hosts the leaders' summit. India suggested major steps
during the 6th BRICS Summit to strengthen intra-BRICS collaboration, including a
virtual BRICS university in Brazil in July 2014. In September 2016, India hosted the first
BRICS Young Scientist Conference as part of the BRICS Young Scientist Forum. In
October, India hosted the first BRICS trade fair and exhibition at the BRICS Business
Council in Ufa, Russia. To highlight cutting-edge technology and achievements in
industrial development in 2016. On April 9, 2017, India hosted the inaugural meeting of
the BRICS Science and Technology Driven Entrepreneurship and Innovation
Partnership.vii

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So far 13th BRICS Summits have taken place. First BRICS Summit was held in
Yekaterinburg, Russia on June 16, 2009; the second in Brasilia, Brazil on April 16, 2010;
the third in Sanya, China on April 14, 2011; fourth in New Delhi, India on March 29,
2012; the fifth in Durban, South Africa on October 26-27, 2013; sixth in Fortaleza,
Brazil, July 14-16, 2014; seventh in Ufa, Russia on July 8-9, 2015; eighth BRICS Summit
was hosted by India during its Chairmanship on October 5-6, 2016; the ninth summit was
held in Xiamen, China on September 3-5, 2017; tenth summit was held in South Africa
on 2018; eleventh BRICS summit was held by Brazil in 2019; twelve BRICS summit was
hosted by Russia in 2020. The 13th BRICS Summit held under India’s Chair ship on 09
September 2021. It had the third time that India had been hosting the BRICS Summit
after 2012 and 2016.
It is observed that BRICS has evolved to be recognized as an important group. Though,
there remains a certain area that must be prioritized to maintain the relevance of the
group. First, the world economy is witnessing an increasing trend towards protectionism,
creating fears of a ‘trade war’ between countries. In such a fluid situation, BRICS needs
to work jointly to expedite the implementation of commitments at various summits,
especially an open and inclusive global trading system with non-discrimination,
transparency and rules-based multilateral trading system sustaining the economy. Second,
there needs to be an equal emphasis on the reform of the permanent membership of the
UNSC, as well as the reform of other economic and financial institutions, in order to
achieve its mandate of a uniform international order in true spirit. While there is a greater
emphasis on reform of international financial institutions the IMF and the World Bank
since BRICS emerged as a group to address some of the challenges in global governance
processes during the GFC, the reform of the United Nations, particularly of permanent
membership the extension finds no direct reference in the declarations to the UNSC.
Overall, there should be continued efforts by BRICS countries to maintain a cohesive
stand on a range of issues of socio-economic importance, including reforms in global
governance for greater representation of developing countries, agriculture, science and
technology, education and health, and Coordinating positions in a number of international
fora, including the World Trade Organization, the G20, and others, in particular to stem
the rising tide of viii protectionism.

Conferences
Conference Country Year
1st Russia 2009
2nd Brazil 2010
3rd China 2011
4th India 2012
5th South Africa 2013

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