BRICS is an association of five major emerging national economies, comprising 43% of the world population, having 30% of the world GDP and 17% share in the world trade. It is the acronym of Brazil, Russia, India, China and South Africa. This acronym was first used in 2001 by Goldman Sachs in Global Economies Paper “The World Needs Better Economic BRICS”. Initially, they were grouped in four i.e. “BRIC” and later South Africa was included in 2010.
Source:www. upload.wikimedia.org
The 1st BRIC Summit was held in Yekaterinburg, Russia on June 16, 2009. And So, South Africa attended the 3rd BRICS Summit in Sanya, China on 14 April 2011. So far seven BRICS Summit have taken place. And all five BRICS members are G-20 members. The 8th BRICS Summit was hosted by India in 2016 at Goa.
BRICS cooperation has two pillars – consultation on issues of mutual interest through meetings of Leaders as well as of Ministers of Finance, Trade, Health, Education, Agriculture, Communication, Labour, etc. and practical cooperation in a number of areas through meetings of Working Groups/Senior Officials. Regular annual Summits as well as meetings of Leaders on the margins of G20 Summits are held.
The theme of India's BRICS Summit 2016 is Building Responsive, Inclusive and Collective Solutions.
Source:www.images.financialexpress.com
Five approaches adopted during India’s BRICS Summit are:
i. Institution building which further deepen, sustains and institutionalise BRICS cooperation.
ii. Implementation of the decisions from previous Summits.
iii. Integrating the existing cooperation mechanisms.
iv. Innovation, i.e. new cooperation mechanisms on government-to-government, business-to-business and people-to-people to tap the full potential of BRICS cooperation and
v. Continuity, i.e. continuation of mutually agreed existing BRICS cooperation mechanisms.
India-Russia important deals signed during the BRICS Summit 2016:
Source:www.s1.firstpost.in.com
Total 16 agreements are signed between India and Russia mainly in the fields of defence, economy, energy, power, space and shipbuilding. And also laid the foundation of Unit 3 and 4 of the Kudankulam nuclear plant. Here are the deals that are signed:
Deals related to Defence (In BRICS Summit 2016) : As we all know that Russia is one of the India’s leading suppliers of advanced weapons and defence technology.
- India will actively collaborate in the military technical field.
- Russia will conduct joint researches with India, supply most advanced weapons, military equipment and produces goods for military purposes.
- Russian companies see real prospects and high attractiveness of the Indian market.
- The two important deals signed are Kamov Ka- 226 T and S400 Triumph.
PM Narendra Modi’s important Foreign Visits
Kamov Ka- 226 T deal cost is $ 1 billion in BRICS Summit 2016
Source:www.russia-insider.com
- India will initially import and then manufacture Russian Kamov Ka-226 T light utility helicopters.
- Ka-226 T is a powerful, light multirole helicopter with “high safety standards”, "incredibly precise hovering ability" and "excellent manoeuvrability".
- It has eco-friendly features, efficiency, modern avionics and additional flight safety solutions – making this one of the best models in its class.
- These choppers will replace the country's aging Cheetah and Chetak fleet.
- Both countries will boost Modi’s Make in India programme.
S-400 ‘Truimph’ deal cost is $ 5 billion (5 missiles of $ 1 billion each)
Source:wwwi.ndtvimg.com
- In BRICS Summit 2016 it was decided that Russia will deliver S-400 a long range air defence or anti aircraft missile system to India. The most advanced Surface to Air missile system.
- It is capable of firing three types of missiles, creating a layered defence, and simultaneously engaging 36 targets.
- Has the capability to destroy incoming hostile aircraft, missiles and even drones at ranges of up to 400 km.
- S-400 Truimph will provide India a ballistic missile shield.
- The sensitive radars of the system are thought to be able to detect even stealth aircraft which present a very small radar cross-section and are often impossible for other systems to track.
S-400 is an upgraded version of the S-300 which is only available to Russian defence forces and has been in service in Russia since 2007. It is manufactured by Almaz-Antey. After signing this deal India will become the second after China. |
Project 11356:
Source:www.i58.fastpic.rubig.com
- India and Russia will collaborate in making four state of art Admiral Grigorovich-class (Project 11356) guided-missile frigates, sensors and weapon systems.
- These frigates are being built at Yantar Shipyard in Kaliningrad.
- These Admiral Grigorovich class frigates are based on Talwar Class frigates, which were also made by Russia for the Indian Navy during 2003-2013.
- This project will enhance our weapon system and missile technology which was finalised in BRICS Summit 2016 India-Russia deal.
Amazing facts about Prime Minister’s Residence
Food Irradiation centres and Technology:
- United Innovation Corp of Russia and Indian agriculture association Hindustan Agro Co-op Ltd signed an agreement in BRICS Summit 2016 to set up a network of integrated irradiation centres for food products in India.
- It is an irradiation technology that helps in safely preserving food for longer period of time.
- Due to the lack of cold storage facilities or storage constraints India incurs a loss of Rs 2.5 lakh crore in food items like fruits, vegetables, meat, cereals, pulses and floriculture.
- Hindustan Agro will have the majority of 51% stakeholding and these centres will be managed by India-Russia joint venture.
- The irradiation centre at Rahuri in Maharashtra, run by Hindustan Agro farmer’s cooperative with the help of the Bhabha Atomic Research Centre.
- The foundation of Unit 3 and 4 of the Kudankulam nuclear plant in Tamil Nadu.
- 25 integrated infrastructure centres will be set up in India under this project and each will have grading, processing, packaging, cold storage and export facility.
- Each plant has 35,000 tonne to 40,000 tonne capacity per annum in a period of around 5 years.
Railways development:
- Discussions were held on the issues like modernisation of existing rail corridors, train traffic and transportation, training and knowledge sharing and rolling stock modernisation.
- Steps were taken to introduce high speed trains like Talgo.
- First bullet train between Mumbai and Ahmedabad which is a part of Modi’s Diamond Quadrilateral project.
Details of BRICS Summits:
S.No. | Host country | Host leader | Location |
1st | Russia | Dmitry Medvedev | Yekaterinburg (Sevastianov's House) |
2nd | Brazil | Luiz Inácio Lula da Silva | Brasília |
3rd | China | Hu Jintao | Sanya (Sheraton Sanya Resort) |
4th | India | Manmohan Singh | New Delhi (Taj Mahal Hotel) |
5th | South Africa | Jacob Zuma | Durban (Durban ICC) |
6th | Brazil | Dilma Rousseff | Fortaleza (Centro de Eventos do Ceará) |
7th | Russia | Vladimir Putin | Ufa (Congress Hall) |
8th | India | Narendra Modi | Benaulim, Goa (Taj Exotica) |
9th | China | Xi Jinping | Xiamen, China |
Conclusion:
The success of Summit provides more strength to India-Russia partnership. Russia will help in combating terrorism. As there is a need for zero tolerance in dealing with terrorist and their supporters. This partnership will help in boosting trade and investment which will help to fast track India’s association with Eurasian Economic Union Free Trade agreement. Opening nuclear power plant displays an extent of the India-Russia nuclear co-operation. They will also set up a Science and Technology Commission. Even the construction of the BrahMos supersonic cruise missile and the development of new, fifth generation fighter aircraft are the successful joint projects. In this way both countries are improving industrial cooperation, military and technical cooperation. At last the Russian projects in India not only have commercial importance but also plays a significant role in social and economies of the two countries also pave an influence on regional and global affairs. The ninth BRICS Summit will be hosted by China in 2017.
Comments
All Comments (0)
Join the conversation