BRICS-Our role in building future

The fourth edition of the BRICS summit was held in the capital of New Delhi last week. The nations like Brazil, Russia, India, China and South Africa represent half the population of the world. Our leaders made new guidelines for growth for all nations by cooperation. India has made great strides in the international arena in organising joint ventures, collaborations, in cooperation and transfer of technology. And most of all, trade amongst nations. This will make way for other cooperative relationships.

Our needs are self-evident; we have a big growth in labour force, and we have to find gainful employment for all of them. We can learn how from other developing nations. We have constraints and limitations in fields like energy, in food stores and in water availability. And we need sustained economic growth and not just a spurt of growth. Energy production along with energy consumption has to be addressed. Green growth with ecology-friendly energy utilisation with limited use of fossil fuels is urgently needed. Although our per capita income has increased, there are extreme inequalities. By encouraging trade we will make sure that our economy grows. We have deficiencies in global governance and we have to come up with a plan for development of all. If we succeed in good trading relations, then scarcities can be eliminated.

India is strategically located and plays an important role in leading the nations of the developing world. All countries of the BRICKS have common problems like prolific urbanisation, and its allied ills like sanitation, water management, water drainage, transport, energy efficient structures etc. And all are affected by prevailing political climate which is causing world’s economic instability.For example price rise of oil.

We signed agreements to extend credit facilities in local currencies to reduce dependency on the dollar as a medium of currency.  To bring the economies of the BRICKS nations closer, we can invest on each other countries stock exchanges without currency risk. India and Brazil had made several pacts for mutual cooperation.We are, as bricks, building the future of the world as we play a central role in making of a new                   global order.Earth hour was observed two days ago when we had turned all lights off from 8:30 to 9:30 at night.....