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  • The Eastern Window: An expanded BRICS will be a challenge to US hegemony May 22, 2023 08:40 AM IST

    The Eastern Window: An expanded BRICS will be a challenge to US hegemony

    BRICS is due to play a key role in oil politics with six crude producing nations including Saudi Arabia seeking its membership. This is among the efforts being made to reduce US influence in world affairs with China and Russia playing a key role. Efforts include an attempt to create a BRICS currency to ditch the US dollar

  • BRICS draws membership requests from 19 nations before summit April 25, 2023 06:55 AM IST

    BRICS draws membership requests from 19 nations before summit

    The emerging-markets bloc of Brazil, Russia, India, China and South Africa will meet in Cape Town on June 2-3 to discuss its enlargement, Anil Sooklal, South Africa’s ambassador to the group, said in an interview in the city on Monday.

  • China, India to lead global growth over the next five years: IMF report April 19, 2023 04:35 PM IST

    China, India to lead global growth over the next five years: IMF report

    Global headline inflation is set to fall from 8.7 percent in 2022 to 7.0 percent in 2023 on the back of lower commodity prices, but underlying (core) inflation is likely to decline more slowly. Inflation’s return to target is unlikely before 2025 in most cases.

  • Time for a BRICS reinsurance company December 05, 2022 01:36 PM IST

    Time for a BRICS reinsurance company

    The sensible thing for India to do is to keep buying Russian crude, set up a BRICS Re to offer reinsurance to those who insure the safe passage of Russian crude without price caps to wherever it is welcome, and to keep engaging both sides in the Ukraine war

  • Will the new BRICS basket ‘de-dollarise’ the global financial system? October 05, 2022 02:20 PM IST

    Will the new BRICS basket ‘de-dollarise’ the global financial system?

    The currency market is seeing turbulent times, especially in the backdrop of the Russia-Ukraine war and tighter fiscal actions by the US Fed. Hence, the BRICS’ launch of a new global reserve currency is seen as a move to reduce the dependence on the dollar and the euro.

  • BRICS nations talk on reserve currency to reduce dependence on dollar, euro October 04, 2022 09:27 AM IST

    BRICS nations talk on reserve currency to reduce dependence on dollar, euro

    The reserve currency will be based on a basket of the currencies of the five-nation bloc.

  • Can BRICS reserve currency diminish dollar dominance? September 02, 2022 12:24 PM IST

    Can BRICS reserve currency diminish dollar dominance?

    The BRICS countries – led by Russia and China, have set course to bring about a global financial currency system of their own for their vested interests

  • India is an important link between G7, G20, and BRICS June 29, 2022 10:59 AM IST

    India is an important link between G7, G20, and BRICS

    The G7 knows that global green transition and SDG targets cannot be achieved without India. For its ambitions, India needs G7 investment, technology, and green finance

  • Iran applies to join India, China and Russia in BRICS club June 28, 2022 03:15 PM IST

    Iran applies to join India, China and Russia in BRICS club

    The term BRIC was coined by Goldman Sachs economist Jim O'Neill in 2001 to describe the startling rise of Brazil, Russia, India, China. The BRIC powers had their first summit in 2009 in Russia. South Africa joined in 2010.

  • Iran applies to join BRICS group of emerging countries June 28, 2022 06:18 AM IST

    Iran applies to join BRICS group of emerging countries

    Iran's membership in the BRICS group, which includes Brazil, Russia, India, China and South Africa, "would result in added values for both sides," Iran's Foreign Ministry spokesperson said.

  • The Eastern Window | How India prevented BRICS from adopting an anti-West stance June 27, 2022 08:37 AM IST

    The Eastern Window | How India prevented BRICS from adopting an anti-West stance

    India prevailed on BRICS countries to avoid taking an anti-West stance. It is significant that China and Russia went along.

  • BRICS countries pledge to combat terror finance networks, safe heavens June 23, 2022 11:11 PM IST

    BRICS countries pledge to combat terror finance networks, safe heavens

    On Thursday, the BRICS nations issued a resounding denunciation of terrorism in all of its manifestations, including terrorists' cross-border travel, terrorism financing networks, and safe havens.

  • BRICS nations to continue discussion on expansion process: Declaration June 23, 2022 11:01 PM IST

    BRICS nations to continue discussion on expansion process: Declaration

    The presidents of the BRICS nations—Brazil, Russia, India, China, and South Africa—said on Thursday that they will keep talking about whether or not to allow new nations to join the club of five on the basis of "complete consultation and consensus."

  • At BRICS summit, Putin slams 'thoughtless and selfish actions' of certain states that hurt global economy June 23, 2022 09:26 PM IST

    At BRICS summit, Putin slams 'thoughtless and selfish actions' of certain states that hurt global economy

    In an apparent allusion to the US and its Western allies, Russian President Vladimir Putin said on Thursday that the BRICS countries' cooperation in creating a multipolar world is more important than ever.

  • BRICS nations have similar approach to governance of global economy, says PM; calls for mutual cooperation for post-Covid global recovery June 23, 2022 09:17 PM IST

    BRICS nations have similar approach to governance of global economy, says PM; calls for mutual cooperation for post-Covid global recovery

    The COVID-19 pandemic's negative impacts on the world economy are still evident, and cooperation among the BRICS countries can be a valuable part of its recovery, Prime Minister Narendra Modi said on Thursday during a virtual summit of the five-nation alliance hosted by China.

  • BRICS members have similar approach to governance of global economy: PM June 23, 2022 06:38 PM IST

    BRICS members have similar approach to governance of global economy: PM

    The Prime Minister said this in his opening remarks at the virtual BRICS annual summit in presence of Chinese President Xi Jinping, Russian President Vladimir Putin and top leaders of Brazil and South Africa. The summit is being hosted by China as the Chair for this year.

  • Why US Fed must extend dollar swap lines to BRICS central banks June 23, 2022 05:00 PM IST

    Why US Fed must extend dollar swap lines to BRICS central banks

    With a capital of $100 billion, the BRICS Contingency Reserve Agreement is touted to be a possible alternative to the US Fed’s Foreign Currency Liquidity Swap Lines, acting as a liquidity manager for BRICS nations 

  • Indian economy expected to grow by 7.5% this year: PM Narendra Modi June 22, 2022 09:28 PM IST

    Indian economy expected to grow by 7.5% this year: PM Narendra Modi

    According to Prime Minister Narendra Modi, the Indian economy will grow by 7.5% this year, making it the major country with the quickest rate of growth.

  • Xi warns about 'expanding military alliances' at BRICS summit: State Media June 22, 2022 09:18 PM IST

    Xi warns about 'expanding military alliances' at BRICS summit: State Media

    Chinese President Xi Jinping warned against "expanding" military ties on Wednesday in a speech ahead of a virtual summit with top leaders from Russia, India, Brazil and South Africa.

  • Chinese President Xi hits out at US, EU for imposing sanctions against Russia June 22, 2022 05:48 PM IST

    Chinese President Xi hits out at US, EU for imposing sanctions against Russia

    History has shown that hegemony, group politics and bloc confrontations bring neither peace nor stability, but rather war and conflict, President Xi said in a keynote speech.

  • India to resist anti-US messaging at BRICS summit with Xi Jinping, Vladimir Putin June 22, 2022 07:05 AM IST

    India to resist anti-US messaging at BRICS summit with Xi Jinping, Vladimir Putin

    The virtual event, which Beijing is hosting this week, is set to bring together Xi, Russian President Vladimir Putin, Indian Prime Minister Narendra Modi, South Africa’s Cyril Ramaphosa and Brazil’s Jair Bolsonaro.

  • BRICS NSAs discuss new threats, challenges to national security June 16, 2022 11:35 AM IST

    BRICS NSAs discuss new threats, challenges to national security

    National Security Advisor Ajit Doval on Wednesday attended via video link the 12th Meeting of BRICS (Brazil, Russia, India, China and South Africa) National Security Advisers and High Representatives on National Security.

  • BRICS bank to open India's regional office in GIFT City in Gujarat May 20, 2022 07:23 PM IST

    BRICS bank to open India's regional office in GIFT City in Gujarat

    Working in close coordination with the NDB Headquarters, the Indian Regional Office will focus on project origination

  • BRICS must live up to commitments to sovereign equality and territorial integrity: EAM Jaishankar May 19, 2022 08:12 PM IST

    BRICS must live up to commitments to sovereign equality and territorial integrity: EAM Jaishankar

    In his remarks at the BRICS Foreign Ministers' Meeting, External Affairs Minister S Jaishankar also said that the grouping must display "zero tolerance for terrorism, especially cross-border terrorism", in an apparent reference to Pakistan.

  • BRICS needs to be more cohesive in dealing with geopolitical developments May 12, 2022 04:28 PM IST

    BRICS needs to be more cohesive in dealing with geopolitical developments

    BRICS could have been a bloc, while managing certain contradictions, and worked seamlessly with the rest of the world. But the western dominance on international finance and trade is so huge that even a group such as BRICS is waking up to the reality of not getting its house in order in time