Article Title: Modi likely to attend BRICS summit in Brazil next month, meet closely watched by US govt
06-06-2025
International Relations Current Affairs Analysis
Context
• Prime Minister Narendra Modi is expected to travel to Rio De Janeiro in July to attend the BRICS summit in Brazil, sources said here.
• The gathering is being closely watched by the Donald Trump administration in the U.S. that sees BRICS as a counterweight to the G-7 group of developed nations.
• In addition, BRICS discussions on the use of alternative or national currencies for trade are likely to trigger reactions in the U.S., given warnings in the past few months by U.S. President Trump against any “de-dollarisation” plans by BRICS
BRICS
• The BRICS now represent half the world’s population and 39% of global GDP. The G-7, on the other hand — comprising Canada, France, Germany, Italy, Japan, the U.K., and the U.S., along with the EU — accounts for about 30% of the world’s GDP.
• BRICS is an intergovernmental informal grouping of 10 emerging economies of the world.
• BRICS stands for the original founding members, Brazil, Russia, India, and China, with South Africa joining in 2010.
• In 2024, Iran, the United Arab Emirates (UAE),Saudi Arabia, Egypt, Ethiopia and Indonesia also became its members.
• Argentina was initially expected to join the group in 2024 but later decided against it.
• The first BRIC Summit was held in Russia in 2009.
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