Current Affairs

UPSC BRICS MEDIA FORUM - English

Why in News?

Recently, the BRICS countries (Brazil, Russia, India, China and South Africa) launched a three-month-long training programme for journalists.

About

The Forum was established in 2015 by media organisations from five countries, including The Hindu (India), Brazil's CMA Group, Russia’s Sputnik, China's Xinhua and South Africa's Independent Media.

The forum aims to establish an efficient coordination mechanism among BRICS media, advance innovation-driven media development and gather stronger momentum for the development of BRICS countries through exchange and pragmatic cooperation under the mechanism.

BRICS

• The acronym "BRICS" was initially formulated in 2001 by economist Jim O'Neill, of Goldman Sachs, in a report on growth prospects for the economies of Brazil, Russia, India and China – which together represented a significant share of the world's production and population.
• The first BRIC Summit took place in 2009 in the Russian Federation and focused on issues such as reform of the global financial architecture.
• South Africa was invited to join BRIC in December 2010, after which the group adopted the acronym BRICS.South Africa subsequently attended the Third BRICS Summit in Sanya, China, in March 2011.
• During the Sixth BRICS Summit in Fortaleza (Brazil) in 2014, the leaders signed the Agreement establishing the New Development Bank (NDB headquarters - Shanghai, China).
• They also signed the BRICS Contingent Reserve Arrangement to provide short-term liquidity support to the members.

Importance of BRICS

• Geo-Politics: Present geopolitics has made it difficult for India to carve a middle path for balancing its strategic interests between the U.S and the Russia-China axis.
• Global Economic: BRICS countries shared a common objective of reforming the international financial and monetary system, with a strong desire to build a more just, and balanced international orderTo this end, the BRICS community plays an important role in the G20, in shaping global economic policies and promoting financial stability.
• Terrorism: BRICS also provides a platform for India to galvanize its efforts against terrorism.
• Global Grouping: India is actively pursuing its membership for the United Nation Security Council (UNSC) and Nuclear Supplier Group (NSG).

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