{"id":62546,"date":"2025-09-09T11:02:58","date_gmt":"2025-09-09T05:32:58","guid":{"rendered":"https:\/\/vajiramandravi.com\/current-affairs\/?p=62546"},"modified":"2025-09-09T11:05:27","modified_gmt":"2025-09-09T05:35:27","slug":"brics-summit-2025","status":"publish","type":"post","link":"https:\/\/vajiramandravi.com\/current-affairs\/brics-summit-2025\/","title":{"rendered":"BRICS Summit 2025 &#8211; India Calls for Fair Economic Practices"},"content":{"rendered":"<h2 style=\"text-align: justify;\"><strong>BRICS Summit Latest News<\/strong><\/h2>\n<ul style=\"text-align: justify;\">\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">India at the BRICS Summit 2025 called for fair and transparent economic practices, opposing the linkage of trade measures with non-trade issues amid rising US tariff disputes.<\/span><\/li>\n<\/ul>\n<h2 style=\"text-align: justify;\"><strong>Introduction<\/strong><\/h2>\n<ul style=\"text-align: justify;\">\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The BRICS Summit 2025, convened virtually under the leadership of Brazil, has emerged as a key platform for discussions on global economic disruptions triggered by rising tariff wars and geopolitical tensions.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Representing India, External Affairs Minister (EAM) <\/span><b>S. Jaishankar<\/b><span style=\"font-weight: 400;\"> underscored the urgent need for fair, transparent, and rules-based economic practices.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">He highlighted India\u2019s concerns over linking trade measures with non-trade issues, a veiled reference to the United States\u2019 recent tariff escalations.<\/span><\/li>\n<\/ul>\n<h2 style=\"text-align: justify;\"><strong>Understanding BRICS<\/strong><\/h2>\n<ul style=\"text-align: justify;\">\n<li><span style=\"font-weight: 400;\">BRICS, an acronym for <\/span><b>Brazil<\/b><span style=\"font-weight: 400;\">, <\/span><b>Russia<\/b><span style=\"font-weight: 400;\">, <\/span><b>India<\/b><span style=\"font-weight: 400;\">, <\/span><b>China<\/b><span style=\"font-weight: 400;\">, and <\/span><b>South Africa<\/b><span style=\"font-weight: 400;\">, is an influential intergovernmental grouping that represents <\/span><b>nearly 42% of the world\u2019s population and about a quarter of global GDP<\/b><span style=\"font-weight: 400;\">.<\/span><\/li>\n<li aria-level=\"1\"><b>Historical Background<\/b>\n<ul>\n<li><span style=\"font-weight: 400;\">The concept of BRICS was first introduced in <\/span><b>2001<\/b><span style=\"font-weight: 400;\"> by economist Jim O\u2019Neill to describe emerging economies shaping the global order.\u00a0<\/span><\/li>\n<li><span style=\"font-weight: 400;\">The first BRIC Summit was held in 2009 in Russia, and South Africa joined in 2010, transforming it into BRICS.<\/span><\/li>\n<\/ul>\n<\/li>\n<li aria-level=\"1\"><b>Objectives<\/b>\n<ul>\n<li><span style=\"font-weight: 400;\">Reform of global financial and political institutions to reflect emerging economies.<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Enhanced trade, investment, and sustainable development among member states.<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Cooperation on security, technology, and climate change.<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Advocacy for a multipolar world order to counter Western dominance.<\/span><\/li>\n<\/ul>\n<\/li>\n<li><b>Achievements<\/b>\n<ul>\n<li><span style=\"font-weight: 400;\">Over the years, BRICS has launched initiatives like the <\/span><a href=\"https:\/\/vajiramandravi.com\/current-affairs\/new-development-bank-ndb\/\" target=\"_blank\"><b>New Development Bank<\/b><\/a><b> (NDB)<\/b><span style=\"font-weight: 400;\">, which finances infrastructure and sustainable projects, and the <\/span><b>Contingent Reserve Arrangement (CRA)<\/b><span style=\"font-weight: 400;\"> to stabilise economies during crises.\u00a0<\/span><\/li>\n<li><span style=\"font-weight: 400;\">It has also served as a forum for discussing counter-terrorism, energy security, digital innovation, and global governance reforms.<\/span><\/li>\n<\/ul>\n<\/li>\n<li aria-level=\"1\"><b>Challenges<\/b>\n<ul>\n<li><b>Internal divisions<\/b><span style=\"font-weight: 400;\"> &#8211; particularly between India and China due to border tensions.<\/span><\/li>\n<li><b>Economic asymmetry<\/b><span style=\"font-weight: 400;\"> &#8211; China\u2019s overwhelming dominance compared to other members.<\/span><\/li>\n<li><b>Geopolitical contradictions<\/b><span style=\"font-weight: 400;\"> &#8211; diverging interests in Ukraine, West Asia, and trade policies.<\/span><\/li>\n<li><b>Limited integration<\/b><span style=\"font-weight: 400;\"> &#8211; trade among BRICS members is often constrained by deficits and protectionist measures.<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h2 style=\"text-align: justify;\"><strong>Summary of the 2025 BRICS Summit<\/strong><\/h2>\n<ul style=\"text-align: justify;\">\n<li><b>India\u2019s Concerns on Tariff Wars<\/b>\n<ul>\n<li><span style=\"font-weight: 400;\">At the 2025 BRICS Summit, EAM S. Jaishankar raised concerns over the United States\u2019 imposition of <\/span><b>50% tariffs on Indian and Brazilian exports<\/b><span style=\"font-weight: 400;\">, citing penalties for oil trade with Russia.\u00a0<\/span><\/li>\n<li><span style=\"font-weight: 400;\">He strongly objected to linking trade measures with non-trade matters, arguing that such practices destabilise the global economic order.<\/span><\/li>\n<\/ul>\n<\/li>\n<li aria-level=\"1\"><b>Call for Fair and Transparent Economic Practices<\/b>\n<ul>\n<li><span style=\"font-weight: 400;\">S. Jaishankar emphasised that the international trading system must remain <\/span><b>open, fair, transparent, non-discriminatory, and rules-based<\/b><span style=\"font-weight: 400;\">.\u00a0<\/span><\/li>\n<li><span style=\"font-weight: 400;\">He stressed that increasing barriers and protectionism would not help developing economies, especially when global food, energy, and fertiliser security is already strained.<\/span><\/li>\n<\/ul>\n<\/li>\n<li aria-level=\"1\"><b>Need for Resilient Supply Chains<\/b>\n<ul>\n<li><span style=\"font-weight: 400;\">Highlighting vulnerabilities exposed by the COVID-19 pandemic, geopolitical conflicts, and climate disruptions, S. Jaishankar called for <\/span><b>resilient, redundant, and diversified supply chains<\/b><span style=\"font-weight: 400;\">.\u00a0<\/span><\/li>\n<li><span style=\"font-weight: 400;\">He advocated democratizing manufacturing across geographies to prevent overdependence on specific regions.<\/span><\/li>\n<\/ul>\n<\/li>\n<li aria-level=\"1\"><b>Global South and Multilateralism<\/b>\n<ul>\n<li><span style=\"font-weight: 400;\">The External Affairs Minister noted that the <\/span><b>Global South<\/b><span style=\"font-weight: 400;\"> has been disproportionately affected by conflicts in Ukraine and West Asia, experiencing shortages in food, fuel, and fertilisers.\u00a0<\/span><\/li>\n<li><span style=\"font-weight: 400;\">He pressed for a <\/span><b>diplomatic resolution to conflicts<\/b><span style=\"font-weight: 400;\"> and reformed multilateralism, particularly within the United Nations system.<\/span><\/li>\n<\/ul>\n<\/li>\n<li aria-level=\"1\"><b>India\u2019s Trade Deficits within BRICS<\/b>\n<ul>\n<li><span style=\"font-weight: 400;\">S. Jaishankar pointed out that India faces some of its <\/span><b>largest trade deficits with BRICS partners<\/b><span style=\"font-weight: 400;\">, especially China.\u00a0<\/span><\/li>\n<li><span style=\"font-weight: 400;\">He urged member states to review trade flows and adopt more cooperative mechanisms that can reduce imbalances and boost intra-BRICS trade.<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><b>Source :<\/b> <a href=\"https:\/\/www.thehindu.com\/news\/national\/world-needs-stable-environment-for-trade-economic-practices-must-be-fair-transparent-jaishankar-in-brics-virtual-meeting\/article70027240.ece\" target=\"_blank\" rel=\"nofollow noopener\"><span style=\"font-weight: 400;\">TH<\/span><\/a><span style=\"font-weight: 400;\"> | <\/span><a href=\"https:\/\/indianexpress.com\/article\/india\/at-brics-jaishankar-red-flags-linking-of-trade-measures-to-non-trade-matters-10238422\/\" target=\"_blank\" rel=\"nofollow noopener\"><span style=\"font-weight: 400;\">IE<\/span><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>At the 2025 BRICS Summit, India urged fair and transparent economic practices, amid rising global tariff disputes.<\/p>\n","protected":false},"author":21,"featured_media":62562,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[18],"tags":[2574,60,22,59],"class_list":{"0":"post-62546","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-upsc-mains-current-affairs","8":"tag-brics-summit","9":"tag-mains-articles","10":"tag-upsc-current-affairs","11":"tag-upsc-mains-current-affairs","12":"no-featured-image-padding"},"acf":[],"_links":{"self":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/62546","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/users\/21"}],"replies":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/comments?post=62546"}],"version-history":[{"count":0,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/62546\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media\/62562"}],"wp:attachment":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media?parent=62546"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/categories?post=62546"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/tags?post=62546"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}