9th BRICS Science & Technology Ministers Meeting

• 29 Nov 2021

Why in News

Recently, India’s Minister for Science & Technology chaired the 9^th BRICS Science & Technology Ministers meeting.

• Earlier, the Prime Minister chaired the annual summit of the BRICS which was held virtually.
• 2021 is an important landmark year in BRICS Cooperation as the grouping completed 15 years.

Key Points

• Highlights of Address:
  
  • Global Innovation Index: The member countries should work towards a rightful place for BRICS (Brazil, Russia, India, China, and South Africa) in the Global Innovation Index.
    
    • It can be achieved through further strengthening the cooperation in the field of Science, Technology and Innovation (STI).
    • BRICS Ranking in Global Innovation Index, 2021: India (46), China (12), Russia (45), Brazil (57) and South Africa (61).
  • Cooperation: BRICS countries must come together and innovate cost effective, affordable, accessible, sustainable and scalable scientific solutions, as they face many similar and unique challenges.
• BRICS Innovation Cooperation Action Plan (2021-24)
  
  • About:
    
    • BRICS member countries have agreed to a Science, Technology and Innovation (STI)-led BRICS Innovation Cooperation Action Plan (2021-24) proposed by India during the 12^th meeting of the grouping's science & technology steering committee.
    • It will facilitate sharing of experiences of each other’s innovation ecosystem and networking of innovators and entrepreneurs.
  • Thematic areas included:
    
    • Transient Astronomical Events and Deep Survey Science, Antimicrobial Resistance (AMR), Big Data Analytics, Innovation and Entrepreneurship on Photonic, Nanophotonics, and Metamaterials for Addressing Biomedicine, Agriculture, Food Industry, Energy Harvesting Issues etc.
  • In accordance with the plan BRICS Ministers and their representatives endorsed the BRICS Science, Technology and Innovation Calendar of Activities 2020-2021.

BRICS

• BRICS is an acronym for the grouping of the world’s leading emerging economies, namely Brazil, Russia, India, China, and South Africa.
  
  • In 2001, the British Economist Jim O’Neill coined the term BRIC to describe the four emerging economies of Brazil, Russia, India, and China.
  • The grouping was formalised during the first meeting of BRIC Foreign Ministers in 2006.
  • South Africa was invited to join BRIC in December 2010, after which the group adopted the acronym BRICS.
• It comprises 42% of the world's population, has 23% of the global Gross Domestic Product (GDP) and around 17% of the world trade.
• The chairmanship of the forum is rotated annually among the members, in accordance with the acronym B-R-I-C-S.
• The BRICS Leaders’ Summit is convened annually.
• During the Sixth BRICS Summit in Fortaleza (2014) the leaders signed the Agreement establishing the New Development Bank (NDB). They also signed the BRICS Contingent Reserve Arrangement.

Source: PIB