BRICS to soon get 6 new members
Six countries will soon join the BRICS group, and their membership will take effect from January 1 next year, South African President Cyril Ramaphosa said on Thursday. The countries are Argentina, Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates (UAE). The announcement came as South Africa is currently hosting the three-day BRICS Summit, which is set to end on Thursday.
Why does this story matter?
BRICS is a grouping of Brazil, Russia, India, China, and South Africa—the world's five largest emerging economies. It was reported earlier that the group is planning to expand nearly 22 years after its inception and that more than 40 countries have queued up to join BRICS. Reports claimed Brazil and India were opposing inducting new members into the group, which was refuted by officials.
'India has historic ties to each of these countries'
Ramaphosa said, "We...have tasked our foreign ministers to further develop the BRICS partnership model and list of prospective countries." Congratulating the leaders and the people of the new member nations, Prime Minister Narendra Modi said, "India has close ties, historic ties, with each of these countries and I believe we will work together for a new era of cooperation and prosperity."
Cooperation for space exploration
In view of Chandrayaan-3's soft landing on the Moon on Wednesday, which made India the fourth country in the world to have achieved the feat, PM Modi proposed the formation of a BRICS space exploration consortium.
Move can potentially bring 'Global South' together
This development has the potential to open up new avenues for various developing countries to join the coalition committed to the economic and geopolitical emancipation of the "Global South." It was reported that China was pushing to include new members in the alliance, especially Pakistan, which triggered a diplomatic predicament. India opposed Pakistan's inclusion, which was misrepresented as a blanket opposition to new members.
