Recently India hosted the first Meet of BRICS Finance Ministers. This was the first BRICS meet under the chairmanship of India in the year 2021. As of 2021 BRICS Chair, India aims to focus on strengthening intra-BRICS cooperation based on continuity, consolidation and consensus.

Points To Note

These points discussed in the meet

  • Use of Digital Technologies
  • Global Economic Outlook and Response to COVID-19 pandemic
  • Activities of New Development Bank
  • Social Infrastructure Financing
  • Cooperation on Customs related issues
  • International Monetary Fund reforms
  • Financial Inclusion
  • Fintech for SMEs
  • BRICS Bond Fund
  • BRICS Rapid Information Security channel (BRICS-RISC)

India as BRICS host

India will host the 2021 BRICS meeting. This is the 13th summit of the grouping. Also, 2021 marks the 15th anniversary of the international grouping.  This is the 3rd time India is hosting BRICS Summit. Previously India hosted BRICS Summit in the year 2012 and in the 2016.

BRICS Summit 2021

The 2021 BRICS Summit will focus on 3 main pillars. They are:

  • Political and Security
    • They will discuss on reforms of multilateral system and counter terrorism cooperation
  • Economic and Financial relations
    • BRICS Economic Partnership Strategy 2020-25 is to be implemented.
    • BRICS Agriculture Research Platform operations are to be discussed
    • Innovation Cooperation
    • Digital Health and Traditional Medicine
  • Cultural and People to people relations

India hosted BRICS Finance Ministers Meeting 2021 India hosted BRICS Finance Ministers Meeting 2021