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Context: Under Russia’s BRICS Chairmanship 2020, President Vladimir Putin will host Heads of State of Brazil, China, India and South Africa via videoconference on 17 November. Initially planned to take place in St. Petersburg in July, it was cancelled due to current coronavirus pandemic. The leaders will discuss the strengthening and further development of cooperation within the framework of BRICS, including in the context of the global political and socioeconomic consequences of the COVID-19 pandemic. In addition, the leaders will focus on significant and complicated issues or questions relating to geopolitical to socioeconomic spheres, transformations on the global landscapes in the 21st century. As stipulated by the guidelines, Russia took over the rotating presidency of the BRICS from Brazil. Since its establishment, BRICS has come a long way from an informal venue for exchanging views on current issues on the international agenda to an absolutely mature and stable network of multilateral interaction on diverse issues on international and domestic agenda of the five BRICS countries. About BRICS
Structure
Salient Features
Genesis
Timeline
Objectives
Areas of Cooperation 1. Economic Cooperation
2. People-to-People exchange
3. Political and Security Cooperation
4. Cooperation Mechanism Cooperation among members is achieved through:
Impacts of BRICS on global institutional reforms
New Development Bank
Contingent Reserve Arrangement
Challenges
Importance for India
Road Ahead
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