Rejuvenating BRICS in Goa: What’s on the agenda?

Amid the festering recession in wide swathes of the world and a conflicted geopolitical landscape, India is poised to host the 8th BRICS summit in the picturesque resort city of Goa, which is expected to unveil a raft of new ideas and initiatives,designed to provide an added strategic traction to this influential grouping of emerging powers.

India has declared I4C or IIIIC as the framing mantra for the 8th BRICS summit, which includes Institution Building, Implementation, Integration, Innovation, and Continuity with Consolidation.In a deft word game, the BRICS acronym has been reinvented, with the overarching objective of “Building Responsive, Inclusive and Collective Solutions” to pressing global challenges.

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Behind India’s BIMSTEC-BRICS gamble: How to isolate Pakistan

Marking the near complete isolation of Pakistan in the region, terrorism is set to dominate the agenda of dual summits of BRICS and BIMSTEC countries India is hosting in Goa October 15-16.

With Pakistan showing no sign of abandoning terrorism as an instrument of state policy, the overarching focus of India will be to get both BRICS and BIMSTEC groupings to back a collective approach to combating the scourge. India will be pressing these groupings to support a non-segmented approach to terror, which is necessary in view of the propensity of some countries to portray terrorists as freedom fighters, as Pakistan has done in the case of militants active in Kashmir.

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Ufa summit: BRICS leaders walk the talk, New Development Bank to lend by 2016

Reinforcing their commitment to remapping the global financial landscape, the leaders of the BRICS group of emerging powers declared operationalized their two signature initiatives the New Development Bank (NDB) and Contingent Reserve Agreement(CRA), saying these institutions will act as a global safety net amid fragile economic recovery. “We welcome the substantive progress that was made since the Fortaleza Summit on 15 July 2014 during the Brazilian BRICS Chairmanship, especially the establishment of BRICS financial institutions: the New Development Bank (NDB) and the Contingent Reserves Arrangement (CRA). The Ufa Summit marks their entry into force,” said the Ufa Declaration. Amid fragile global recovery, the BRICS also formally adopted strategic economic partnership which will upscale trade and investment among emerging economies and positioned them as the future hub of economic growth.
The 7th BRICS summit has imparted a big push to the ongoing project of recasting the global financial system and underscored the centrality of emerging powers in this process.

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