Prime Minister Narendra Modi having a meeting with the President of the Republic of South Africa, Cyril Ramaphosa, on the sidelines of the 15th BRICS Summit, in Johannesburg on August 23, 2023.
The two leaders reviewed the progress made in bilateral relations between the two countries and expressed satisfaction at the progress made in various fields including defence, agriculture, trade and investment, health, conservation and people-to-people relations.
- The two sides also exchanged views on multilateral organisations and continued coordination in regional and multilateral issues of mutual interest.
- President Ramaphosa expressed full support for India's G-20 chairmanship and appreciated India's initiative to grant full G-20 membership to the African Union.
- President Ramaphosa said he looked forward to travelling to New Delhi for the G-20 Summit.
- The Prime Minister congratulated President Ramaphosa for the successful conduct of the BRICS Summit.
- The Prime Minister accepted the invitation of President Ramaphosa to pay a State Visit to South Africa at a mutually convenient date.
- BRICS is an acronym for a grouping of the world's five leading emerging economies: Brazil, Russia, India, China and South Africa.
- BRICS was discussed in a 2001 report by Goldman Sachs economist Jim O'Neill on the growth prospects for the economies of Brazil, Russia, India and China.
- In 2006 the four countries began a regular informal diplomatic coordination with annual meetings of foreign ministers at the end of the General Debate of the United Nations General Assembly.
- Thereafter it was decided that it should be held as an annual summit at the level of Heads of State and Government.
- The first BRIC summit took place in Yekaterinburg, Russia in 2009 and discussed issues such as reforming the global financial system.
- South Africa was invited to join BRIC in December 2010, after which the group adopted the acronym BRICS.
- BRICS countries represent 41% of the global population, 24% of global GDP and 16% of global trade.
- It is an integrated platform of only five countries. It is not an international intergovernmental organisation, nor has it been established under any treaty.
- Summits of the top leaders of BRICS countries and other ministerial conferences are held annually.
- The BRICS Summit is presided over annually by the supreme leader of the member countries in the B-R-I-C-S order.