PM Modi Emphasizes BRICS' Role in Shaping Inclusive World Order Under India's Leadership

Prime Minister Narendra Modi recently affirmed that the BRICS bloc, led by India, is dedicated to building a more inclusive world order. He underscored the importance of collective action in addressing global challenges and promoting equitable development.

This statement comes as India holds the rotating chairmanship of BRICS, an acronym for the association of five major emerging national economies: Brazil, Russia, India, China, and South Africa. The group was formed with the aim of promoting peace, security, development, and cooperation globally.

Exam Insights & GK Analysis: This news is important for current affairs sections in competitive exams like KPSC, KEA, Banking, and SSC. Candidates should know that BRIC was initially conceptualized in 2001 by Goldman Sachs economist Jim O'Neill. South Africa joined in 2010, changing the acronym to BRICS. The group's primary objectives include economic cooperation, political dialogue, and cultural exchanges among its member states. The New Development Bank (NDB), headquartered in Shanghai, China, is a multilateral development bank established by BRICS states. India's current chairmanship period is a key aspect for exam questions.