CURRENT AFFAIRS

Detailed explanation-1: -For Brazil, BRICS served three significant functions: It reinforced its identity as a rising power in economic and political terms. It catalyzed more robust trade relations with emerging economies. It provided a safe space for Brazil to interact with China as equals.

Detailed explanation-2: -Concerning a BRICS expansion, Lavrov stated that Algeria, Argentina, and Iran had all applied, while it is already known that Saudi Arabia, Türkiye, Egypt and Afghanistan are interested, along with Indonesia, which is expected to make a formal application to join at the upcoming G20 summit in Bali.

Detailed explanation-3: -India has been an active participant in this organisation from its inception. Maintaining economic growth that benefits India’s citizens in terms of job creation, GDP growth, and poverty alleviation are in the country’s national interest.

Detailed explanation-4: -Brazil, Russia, India, China and South Africa, originally an informal group of the leading emerging economies of the early 2000s, have since experienced very different growth paths.