This website uses cookies to ensure you have the best experience. Learn more

Brics And India Essay

5175 words - 21 pages

Brics summit
“The aim of brics is to convert their growing economic power into greater geopolitical clout”
BRICS is the title of an association of leading emerging economies, arising out of the inclusion of South Africa into the BRIC group in 2010. As of 2012, the group's five members are Brazil, Russia, India, China and South Africa. With the possible exception of Russia, the BRICS members are all developing or newly industrialised countries, but they are distinguished by their large, fast-growing economies and significant influence on regional and global affairs. As of 2012, the five BRICS countries represent almost 3 billion people, with a combined ...view middle of the document...

A full-scale diplomatic meeting was held in Yekaterinburg, Russia, on May 16, 2008.

Summit | Participants | Date | Host country | Host leader | Location |
1st | BRIC | June 16, 2009 | Russia | Dmitry Medvedev | Yekaterinburg |
2nd | BRIC | April 16, 2010 | Brazil | Luiz Inácio Lula da Silva | Brasília |
3rd | BRICS | April 14, 2011 | China | Hu Jintao | Sanya |
4th | BRICS | March 29, 2012 | India | Manmohan Singh | New Delhi |
5th | BRICS | 2013 | South Africa | Jacob Zuma | TBA |

The BRIC grouping's first formal summit commenced in Yekaterinburg on June 16, 2009,with Luiz Inácio Lula da Silva, Dmitry Medvedev, Manmohan Singh, and Hu Jintao, the respective leaders of Brazil, Russia, India and China, all attending. The summit's focus was on means of improving the global economic situation and reforming financial institutions, and discussed how the four countries could better co-operate in the future. There was further discussion of ways that developing countries, such as the BRIC members, could become more involved in global affairs.
In the aftermath of the Yekaterinburg summit, the BRIC nations announced the need for a new global reserve currency, which would have to be 'diversified, stable and predictable'. Although the statement that was released did not directly criticise the perceived 'dominance' of the US dollar – something which Russia had attacked in the past – it did spark a fall in the value of the dollar against other major currencies.
In 2010, South Africa began efforts to join the BRIC grouping, and the process for its formal admission began in August of that year. South Africa officially became a member nation on December 24, 2010, after being formally invited by the BRIC countries to join the group. The group was renamed BRICS – with the "S" standing for South Africa – to reflect the group's expanded membership. In April 2011, South African President Jacob Zuma attended the 2011 BRICS summit in Sanya, China, as a full member.
The BRICS Forum, an independent international organisation encouraging commercial, political and cultural cooperation between the BRICS nations, was formed in 2011.
In June 2012, the BRICS nations pledged $75 billion to boost the International Monetary Fund's lending power. However, this loan is conditional on IMF voting reforms.

-------------------------------------------------
2012 BRICS Summit

The 2012 BRICS summit was the fourth annual BRICS summit, an international relations conference attended by the heads of state or heads of government of the five member states Brazil, Russia, India, China and South Africa. The summit was held at at Taj Mahal Hotel in New Delhi, India on 29 March 2012 and began at 10:00 Indian Standard Time. This is the first time that India has hosted a BRICS summit. The theme of the summit was "BRICS Partnership for Global Stability, Security and Prosperity".

-------------------------------------------------
Logo

Preparations for the summit began...

Other Papers Like Brics and India

Syrian Civil War Essay

1045 words - 5 pages people. 14. India to stand by the principle of national sovereignty that follows the U.N. Charter and also to support the BRICS declaration made in Durban. BRICS has called for a Syria-led process, a national dialogue and opposed further militarisation of the conflict in Syria. 15. India supports a non-military solution to the conflict and is of the view that the threat of use of force would be detrimental to the territorial integrity and

Capitalizing on India's Demographic Advantage Essay

970 words - 4 pages age of 35. With a whopping population growth rate, India will soon topple China, by the end of 2030. Since its Independence, India has grown almost three times in its population. The demographic developments in the BRICs over the next 10, 20, 30 years will vary greatly. This will impact not only economic growth prospects, but also savings and investment behaviour and potentially – if somewhat difficult to quantify – financial market

Cone Crusher for Sale in South Africa

609 words - 3 pages africa. if you want to get more detailed product informion and prices,recommend th you get in touch with us through gold ore washing machines manufacturers in india cone crusher manufacturers south africa,mining double cone crusher for sale in south africa. double hp series cone crushers are very hot cone crusher in south africa. it is well-known th south africa plinum used cone crusher for sale south africa heavy industry shanghaiused

Impact of Ipo on Indian Economy

925 words - 4 pages -20 major economies and a member of BRICS. On a per capita income basis, India ranked 140th by nominal GDP and 129th by GDP (PPP) in 2011, according to the IMF. Currently the GDP of India worth 1.676$ trillion and the GDP growth rate was 6.5% for (fy) 2012. The Indian Equity market is divided in to two parts Primary market - where the share is first issued in the form of IPO (Initial Public Offering) and after issuing the share it is listed

Brazilians

1007 words - 5 pages Emerging markets Recent history The four BRICs The BRIC’s roller coaster. 2009 Sales dropped in 50%, stabilize in 2010 Annual growth of 15% per year through 2014 Russia China The largest one. Share in 53% in 2008 Share is expected to be 61% in 2014 Brazil The most mature and stable market. Probably remain the second largest to 2014 Outpace both Brazil and China in growth India Summary • • • • • • The 4 BRICs

What Are the Main Characteristics of Emerging Markets?

1238 words - 5 pages developing countries. The purpose of this article is to further analyze the characteristics of emerging markets, I am going to focus on the broad economic aspect of EM, which refers to some developing countries like Brazil, Russia, India, China. (BRICs). I would like to separate this article into three different parts. In the first part, I discuss the implications of emerging markets and why people choose to invest in them. The second part is the central

Neoliberlism

1325 words - 6 pages Neoliberalism and the Global Effects In Chapter 1, The Third World agenda is allocated to the developmental goals for the underdeveloped nations such as Brazil, Russia, India, China and South Africa (BRICS) and global democracy. In 1971, the United States known as one of the “North” states, decided to utilize the Dollar and depart from the Gold Exchange Standard as an enormous advantage. The US was unwilling to pay in gold to creditors from

Meet the Brics

1098 words - 5 pages output during the period. As BRICS observed as emerging market, many investors recognize the potentially attractive return characteristics and diversification benefits of this asset class. However, most pension plans and other institutions currently allocate less than 5% of their overall portfolio to emerging market equities. In Russia there is by now momentous verification of the growth of consumerism throughout the history decade. Parallel trends

A Comparative Study of Political, Economic and Social-Cultures Issues of the Russia and India

2579 words - 11 pages international interpretation. Part 2.1 examines cultural shock as a result of overseas posting, also consider cross cultural training which will increase new manager cultural competency. 1 Task 1 1.1 Economy of Russia and India Economy has become one of the major systems for internationalism. As part of BRICs members, Russia and India share common traits in terms of their economic condition. Both were planned socialist economics characterized

South Africa Coal Crushing Plant

917 words - 4 pages , quarry or mining lease agreement Crusher South Africa. COAL MINING coal crushing equipment south africa Rock coal crushing equipment south africa CME is a leading global manufacturer of crushing and milling equipment (coal crushing equipment south africa),CME also supply Coal Crushing and Screening Plant in India,South Coal crushing and screening plant is one of the key parts of coal preparation. In general, coal is crushed and then screened to

Financial Planning

792 words - 4 pages INVEST – I, DGLRX US -> 76% NA + 13.4% ASIA : Our decision is primarily based on the expected return because average returns for developed market funds are relatively low compare to index. Emerging: BRICs, Taiwan India: Matthews India Fund (MINDX) -> 7. Alternatives -> real estate *difference between a private real estate & an REIT on paper. There are virtually no difference in return and expense but we focused on

Related Essays

Disposable Hygiene Products Market Regulations And Competitive Landscape Outlook To 2020

688 words - 3 pages hygiene products market. Furthermore, rising consumption of products such as sanitary pads, wipes, baby products and others across the globe is anticipated to drive demand for disposable hygiene products market in near future. Among the developing economies, increasing population and manufacture of such products in countries such as India and China and low penetration of these products is expected to open opportunities for growth of the market in BRICS

Brics Build A New World Order

2451 words - 10 pages the BRICS – Brazil, Russia, India, China and the latest member, South Africa. Since the G-7 has turned into a gabfest, the BRICS will increasingly set the global economic agenda. This is not a replay of the Great Game – geopolitical manoeuvres aimed at top dog status – though you can never discount that possibility entirely. The BRICS have no empire ambitions, and in fact are a diverse group of multi-ethnic nations with very little in

Economy Of India Essay

1755 words - 8 pages economy of india The economy of India is the eleventh largest[->0] in the world by nominal GDP[->1] and the third largest[->2] by purchasing power parity[->3] (PPP).[1] The country is one of the G-20 major economies[->4] and a member of BRICS[->5]. In 2011, the country's per capita income[->6] stood at $3,694[->7] IMF[->8], 129th in the world, thus making a lower-middle income economy.[10] After the independence-era Indian economy (before and

Second Hand Mobile Crushers In South Africa

589 words - 3 pages south africa. second hand crushers ads for salemobile crusher in south africa second hand mobile crushers and screens in south second hand mobile crushers and screens in south africa.,one of the largest quarry machine manufacturers in china, enjoys the repution of reliable quality and second hand crushers south africa brics crusher second hand crushers south africa. if you want to get more detailed product informion and prices,recommend th you