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Prime Minister Narendra Modi said in a virtual summit of the Group of Five countries sponsored by China that corona The effects of the pandemic are still visible in the global economy and brix Mutual cooperation between countries can make a useful contribution to the global post-Covid recovery. According to the Prime Minister, brix Member nations share similar approaches to managing the world economy.

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key points :

  • President of China at the time of Modi’s statement Xi Jinpingrussian Vladimir Putinmilf brazilian Jair Bolsonaro and South Africa Cyril Ramaphosa were present.
  • Representation of the world’s five major developing countries brix (Brazil, Russia, India, China and South Africa) which accounts for 41% of the world’s population, 24% of its GDP and 16% of its commerce.
  • Ukraine crisis and prolonged military standoff between India and China in eastern Ladakh brix
    Served as a virtual backdrop for the meeting of presidents. In his role as the group’s chairman for this year, China hosted the meeting.
  • In his speech, Modi said that BRICS has undergone several structural changes which have improved the efficiency of the organisation.
  • Modi claimed that by taking such concrete action, BRICS has become a special international group whose aim is beyond discussion. We have also strengthened our people-to-people contacts by increasing contacts between the BRICS Youth Conference, BRICS sports and our civil society organizations and think tanks.
  Fitch upgrades IDRs of 9 Indian banks to stable

Important takeaways for all competitive exams:

  • President of China: Xi Jinping
  • President of Russia: Vladimir Putin
  • President of Brazil: Jair Bolsonaro
  • President of South Africa: Cyril Ramaphosa

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