• Friday, December 09, 2022

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Modi hosts BRICS leaders as bloc beset by economic woes

(From left) Michel Temer, Narendra Modi, Xi Jinping, Vladimir Putin and South African president Jacob Zuma before the BRICS meeting in Hangzhou, China, in September

By: Eastern Eye Staff

Prime minister Narendra Modi will look to reinvigorate the BRICS group of emerging nations at a summit this weekend, with India seen as a bright spot in a bloc whose clout has been undermined by economic woes. BRICS – a club made up of Brazil, Russia, India, China and South Africa – was formed in 2011 with the aim of using its growing economic and political influence to challenge Western hegemony. The nations, with a joint estimated GDP of $16 trillion (£13tr), set up their own bank in parallel to the Washington-based International Monetary Fund (IMF) and World Bank, and…

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