Why India is not in favor of expanding BRICS why the hesitation

[ad_1]

Beijing: BRICS means the organization of Brazil, Russia, India, China and South Africa. Next month a convention of the organization is to be held in Johannesburg, South Africa. China wants countries like Argentina, Egypt, Indonesia, UAE, Saudi Arabia, Algeria, Bangladesh and Iran to get a place in this organization. But India and Brazil have objections to this. A meeting has started from Tuesday to discuss the expansion of this organization in which its expansion is the main point of the agenda. Important statements were made on behalf of China and India to increase it.

China’s intention, India’s concern
China said last year that it intended to admit new members. But Indian Foreign Minister S Jaishankar had said last month that the process is still a work in progress. He had said that the norms and procedures needed to be discussed. Oliver Stuenkel, associate professor at Fundação Getulio Vargas University in Brazil, said that India’s concern is to what extent it will expand.

He said that now it has to be seen whether any important step will be taken in that direction or not. China is the strongest supporter of an expanded BRICS followed by Russia. Meanwhile, both India and Brazil are worried that if it expands, they will lose their influence over a larger group.

New members will be special from China!
Stuenkel said that the new members of the organization would be largely closer to China and not Brazil or India. He said the bloc is already seen as an alternative to the powerful G7 grouping. He said that whether it expands or not, the five BRICS countries already have a significant influence. Anwar, a fellow at Harvard University, said India’s recent tilt towards the West gives the impression that BRICS has an outsider. After this, there should be no problem in expanding this organization to other members. In recent times, Delhi has strengthened economic, defense and technological cooperation with the US, Japan, Australia and the European Union. Also he has an active role in the Quad.

what is brix
BRICS is sometimes seen as an association of emerging economies of the world BRICS as an association of emerging economies
The purpose of its establishment is to promote peace, security, development and cooperation
In 2010, when South Africa became a part of it, it became BRICS.

was seen as The purpose of its establishment is to promote peace, security, development and cooperation. This organization represents 43 percent of the world’s population, 26 percent of the area and about 30 percent of the global economy. BRICS was started as a way to advance the strategy of foreign investment. Initially it included only Brazil, Russia, India and China and it was called BRIC. When South Africa became a part of it in the year 2010, its name became BRICS.

bank of brics countries
In the year 2015, the New Development Bank (NDB) was started by BRICS. According to the website, since inception, the NDB has lent $33 billion to the five founding member countries for more than 96 projects. NDB has accepted Bangladesh, UAE and Egypt as new members in recent years. Uruguay is in the process of joining, while Saudi Arabia is also in talks to join.

Leave a Reply

Your email address will not be published. Required fields are marked *