Tue Oct 22 17:20:50 UTC 2024: **Summary of News Article: BRICS Summit 2024**

– **Event:** Prime Minister Narendra Modi departed to attend the 16th BRICS Summit in Kazan, Russia, on October 22, 2024.
– **Significance:** This summit is the first since the group’s expansion last year, which is particularly important for India as Modi may meet China’s President Xi Jinping following recent disengagement agreements along the Line of Actual Control (LAC).

– **BRICS Overview:**
– Originally comprised of Brazil, Russia, India, China, and South Africa, BRICS has expanded to include Egypt, Ethiopia, Iran, and the United Arab Emirates (UAE).
– The organization now represents nearly half of the world’s population and about one-quarter of the global economy.
– Envisioned as a non-Western counterweight to institutions dominated by the Global North, such as the World Bank and IMF.

– **Historical Context:**
– The term “BRIC” was first used by Goldman Sachs in 2001.
– The formal grouping started in 2006, with the first summit held in 2009.
– The recent expansion grew out of a summit in South Africa last year, which invited six additional countries, with four joining in January 2024.

– **Diplomatic Meetings:**
– Modi is expected to meet Russian President Vladimir Putin and possibly Xi Jinping, reflecting India’s strong ties with Russia amidst Western pressure related to the Ukraine war.
– Discussions will also involve key figures like Iran’s President Masoud Pezeshkian due to ongoing conflicts in West Asia.

– **India’s Goals at the Summit:**
– Modi emphasized the importance of BRICS for multilateralism and global development, including topics like climate change, economic cooperation, and resilience in supply chains.
– India aims to enhance trade, security, and climate collaboration during this summit.

– **Challenges and Criticism:**
– Analysts note that BRICS has not yet fulfilled its potential due to internal differences, including the India-China border dispute and varying degrees of hostility toward the West among members.

– **Call for Cybersecurity Modernization:**
– As cybersecurity threats grow, industry leaders are advocating for a dedicated ministry for cybersecurity and defense in India, signaling concerns about current frameworks and policies.

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