Brics

India leads capacity building initiative on digital transformation in Brics

The session was inaugurated by Daniel Cavalcanti, BRICS Chair, and Atul Sinha, Director General of NCA-T, India

Colombia applies to join China-led Brics bank amid shift from US ties

Colombia's government has applied to join a China-based development bank, another sign of Latin America's drift away from the US as the Trump administration's foreign aid cuts, trade barriers and crackdown on immigration spurs many leaders in the region to seek closer ties with Washington's geopolitical rival. Colombian President Gustavo Petro wrapped up a visit to China this week with a stop in Shanghai, where he met with former Brazilian President Dilma Rousseff, the head of the New Development Bank. The multilateral lender was set up a decade ago as a project of Brazil, Russia, India, China and South Africa the BRICS nations of major developing markets as a counter to US-dominated institutions like the World Bank and Inter-American Development Bank. To date, the New Development Bank has approved loans for 122 infrastructure projects totalling more than USD 40 billion in areas such as transport, sanitation and clean energy, according to Rousseff. Petro, speaking to reporters in

Power Minister Manohar Lal to highlight India's energy gains at Brics meet

Union Minister Manohar Lal will showcase the country's achievements in the power sector over the past decade at BRICS Energy Ministers' Meeting on May 19, an official statement said on Saturday. Lal is on an official visit to Brazil to attend the meeting, a power ministry statement said. He will showcase the country's achievements in the energy sector over the past decade, including a 90 per cent increase in power capacity, leadership in renewable energy, green hydrogen, and biofuels, as well as innovations and sustainable development. India will also reaffirm its commitment to ensuring equitable access to energy and accelerating the energy transition.

Brics group shows internal rifts as ministers fall short of joint statement

Brazil said the group's foreign ministers expressed "serious concern at the prospect of a fragmented global economy and the weakening of multilateralism"

India urges global focus on small farmers at Brics agriculture meet

India on Friday pitched for placing small and marginal farmers at the centre of global agricultural strategies, saying they cannot face climate change, price volatility and resource scarcity challenges alone. Speaking at the 15th BRICS Agriculture Ministers meeting in Brazil, Agriculture Minister Shivraj Singh Chouhan said global food security goals would remain unfulfilled unless small farmers are protected and empowered. "We cannot leave smallholders to fight these challenges alone. They need our policy support," Chouhan said, describing agriculture as not merely an economic activity but a source of "livelihood, food, and dignity" for millions. Chouhan presented cluster-based farming, farmer producer organisations, cooperative models and natural farming as effective approaches for empowering small farmers and improving their market access, the Agriculture Ministry said in a statement. The meeting underscored the need for fair agricultural trade, control of global price volatility

Climate goals of developing nations at risk without funds from rich: India

Developing nations will struggle to meet climate targets without sufficient funding from developed countries, leading to underfunded climate action, India said on Thursday. At the BRICS Environment Ministers' meeting in Brasilia, Brazil, India strongly advocated for climate justice and equity and said that the success of this year's UN climate conference depends on whether developed nations fulfil their climate finance commitments. "Developing countries must receive adequate financial and technological support from developed nations. The proposed USD 300 billion per year by 2035 under the New Collective Quantified Goal on climate finance falls significantly short of the USD 1.3 trillion required. "Without sufficient funding, developing nations will struggle to meet climate targets, perpetuating underfunded climate action," India said. With COP30 being hosted in Brazil, India said there is strong symbolic and political momentum for ambitious climate action. "COP30 provides an ...

India urges Brics to mobilise $1.3 trillion to achieve climate goals

The Baku to Belem Roadmap is aimed at securing $1.3 trillion in climate finance to support Nationally Determined Contributions (NDCs)

Brics+ Unit: Is it a bridge too far amid shifting global dynamics?

With global economic shifts underway, India should keep its options open on emerging alternatives to the dollar

Brics mulling national currencies to foster trade: Brazil Ambassador

Brazil is optimistic about participation of economic actors, civil society, and businesses in the US to fight climate change

IMF's Pak loan review: India to question Pakistan's Brics Bank stake plan

India has generally abstained from voting on loans sought by Pakistan in the IMF's executive board meetings

'Brics broke up': Trump claims bloc went silent after 150% tariff threat

US President Donald Trump has repeatedly warned BRICS nations against attempts to challenge the dominance of the US dollar with an alternative global reserve currency

Brics is dead, says Trump as he threatens member nations with 100% tariff

Earlier in January, Trump threatened to impose tariffs on Brics nations if they try to introduce alternative currency to the US Dollar

Brazil nixes Brics currency, eyes less reliance on 'mighty' dollar

Brazil is pushing reforms within Brics to ease international payments in local currencies, opening the door to less dependence on the dollar for global trade

News updates: FM gives final touches to her record eighth Budget

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Donald Trump warns Brics: 'Say goodbye to America' if US dollar is replaced

US President Donald Trump has warned Brics nations against creating an alternative currency to replace the US dollar, threatening 100 per cent tariffs on those attempting de-dollarisation

Brics+ eyes alternative payment systems, but dollar dominance looms

It is a necessary risk mitigation strategy in an uncertain world

Trump mistakes Spain for member of Brics bloc, repeats threat of tariffs

US President Donald Trump has apparently confused Spain for a member of the BRICS bloc of developing economies, causing some head-scratching and jitters over possible tariffs in Madrid. Spain is not in BRICS, whose initials stand for Brazil, Russia, India, China and South Africa. Spain is a member of NATO, along with the US, and of the European Union. Trump erroneously said Spain was in BRICS when a journalist asked him about NATO countries like Spain which don't meet the NATO minimum of spending 2 per cent of economic output on defence. Spain ranked last in the 32-nation military alliance, estimated to spend 1.28 per cent on defence last year. Trump started his answer by saying Spain is very low, referring to its defence expenditures, but quickly veered into speaking about the BRICS. They're a BRICS nation, Spain. Do you know what a BRICS nation is? You'll figure it out, he told the reporter from the presidential desk in the Oval Office. Trump repeated his threat to put costly ..

Trump's big warning to India, Brics nations on Day 1 as US President

US President Donald Trump warned BRICS nations, stating that countries pursuing de-dollarisation efforts will face a 100 per cent tariff on trade with the United States

Will help Vietnam become 'partner country' in Brics bloc, says Russia

Russia will facilitate Vietnam's participation in the BRICS bloc of developing economies as a partner country, the countries said in a joint statement on Wednesday after Russian Prime Minister Mikhail Mishustin's two-day visit to Hanoi. The Russian side welcomed Vietnam's active participation in BRICS events in 2024 and expressed its readiness to create favourable conditions if Vietnam joins BRICS as a partner country, the statement said. BRICS was formed by Brazil, Russia, India and China in 2009, with South Africa added in 2010, as a counterweight to the Group of Seven leading industrialised nations. Last year, the bloc added Iran, Egypt, Ethiopia and the United Arab Emirates. Saudi Arabia has been invited to join. Turkiye, Azerbaijan and Malaysia have formally applied to become members, and a few others have expressed interest. Vietnam's Southeast Asian neighbour Indonesia was admitted as a full BRICS member this month. But Vietnam remains reticent to join the bloc, said Nguyen

Indonesia admitted to BRICS bloc of developing nations, Brazil announces

Indonesia has been admitted as a full member of the BRICS bloc of developing economies, the group's presiding country Brazil announced Monday. Indonesia's candidacy was endorsed by BRICS leaders in August 2023, according to the foreign ministry of Brazil, which holds the group's presidency for 2024. However, the world's fourth-most populous nation opted to formally join the bloc only after the formation of its newly elected government last year. The Brazilian government welcomes Indonesia's entry into the BRICS, the government said in a statement. With the largest population and economy in Southeast Asia, Indonesia shares with other members a commitment to reforming global governance institutions and contributes positively to deepening South-South cooperation. BRICS was formed by Brazil, Russia, India and China in 2009, and added South Africa in 2010. Last year, the alliance expanded to embrace Iran, Egypt, Ethiopia and the United Arab Emirates. Saudia Arabia has been invited to joi