At a recent international seminar on BRICS Studies, in addition to the predictable themes such as building a multipolar world order and the One Belt One Road project, fresh ground was also covered, including the contours of the New Development Bank and the potential impact of the refugee crisis on BRICS countries.
Sanusha Naidu, Research Associate at the Institute for Global Dialogue, Pretoria, explains why the BRICS grouping should not be expanded but the New Development Bank(NDB) is the ideal vehicle to include other developing countries
A major theme at the multilateral summits this month was connectivity, with China at the forefront. India is trailing behind due to a shortfall in investment and political will, among other factors. Prime Minister Modi must follow up on his meetings at the SAARC Summit by robustly taking forward India’s connectivity agenda
The New Development Bank was formalised at the just concluded meeting of the leaders of the BRICS nations in Fortaleza in Brazil this week. The location is to be Shanghai. The more appropriate and natural choice for locating the bank would have been Mumbai. There are several reasons why