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18th BRICS Summit adopts New Delhi Declaration
Why in News?
Founded by 5, now bigger: the New Development Bank fact every BRICS Prelims question checks
The 18th BRICS Summit in New Delhi adopted the New Delhi Declaration, reaffirming cooperation on multilateral reform, local-currency trade and counter-terrorism.
Why it matters: GS-2 core
What you need to know
2 min read
Leaders of the BRICS grouping meeting in New Delhi adopted the New Delhi Declaration at the 18th BRICS Summit, reaffirming cooperation on reform of multilateral institutions, trade in local currencies and counter-terrorism.
BRICS was founded in 2009 by Brazil, Russia, India, China and South Africa, and has since admitted new members and partner countries including Egypt, the UAE, Ethiopia and Indonesia.
India used the summit to push for reform of the UN Security Council and a greater voice for the Global South.
The Declaration also called for strengthening the New Development Bank, which BRICS set up in 2015.
Sources: The Hindu · Topper IAS editorial
Key facts
Remember these
- 18th BRICS Summit held in New Delhi adopted the New Delhi Declaration
- BRICS founded in 2009 by Brazil, Russia, India, China and South Africa
- New Development Bank set up by BRICS in 2015
- New members/partners since expansion include Egypt, UAE, Ethiopia and Indonesia
- Declaration reaffirms cooperation on multilateral reform, local-currency trade and counter-terrorism
Prelims · Mains
How the exam will ask it
Prelims
- The New Delhi Declaration was adopted at the 18th BRICS Summit.
- BRICS was established in 2009 by Brazil, Russia, India, China and South Africa.
- The New Development Bank was set up by BRICS in 2015.
- Egypt, the UAE, Ethiopia and Indonesia are among the newer members/partner countries of BRICS.
Mains
GS Paper 2 (International Relations/International Groupings): the New Delhi Declaration's push for UN Security Council reform and a stronger Global South voice reflects BRICS's evolving role as a platform for multilateral institutional reform; strengthening the New Development Bank and local-currency trade signals a shift away from dollar-dependent finance, with the way forward lying in translating these declarations into concrete institutional and trade mechanisms.
Quick recall
Answer before you reveal
Consider the following statements about BRICS:
- It was established in 2009 by Brazil, Russia, India, China and South Africa.
- The New Development Bank, set up by BRICS in 2015, is headquartered in Mumbai.
How many of the above statements are correct?
- 1 only
- 2 only
- Both 1 and 2
- Neither 1 nor 2
Show answer
Answer: A — BRICS was founded in 2009 by Brazil, Russia, India, China and South Africa (statement 1, correct). Its New Development Bank, set up in 2015, is headquartered in Shanghai, not Mumbai (statement 2, incorrect).
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