Kazan (Russia): With the tremendous diplomacy of PM Modi, India has been completely successful in becoming the leader of the Global South. The countries of the Global South, which were ignored on global forums, have now reached a state where other countries are forced to support their voice on all international forums. Recently, in the United Nations Security Council conference held in New York, Prime Minister Narendra Modi had raised the voice of the Global South on priority. Other countries including the UN had also supported it. Now it was the turn of BRICS. Here too, Prime Minister Modi strongly put forward the development and problems of the Global South. Russia also fully supported this initiative of PM Modi. But this frightened our neighbour China. 

At the BRICS summit, PM Modi argued that the hopes, aspirations and expectations of the countries of the 'Global South' should be taken into account. He said that the term 'Global South' came into use in the 1960s. This term is generally used for the regions of Latin America, Asia, Africa and Oceania. In particular, it means countries located in the Southern Hemisphere and the Equatorial region, outside Europe and North America, which are mostly low-income and politically backward. PM Modi had earlier advocated giving loans at cheap rates to the countries of the Global South on the platform of the United Nations to make them debt free. 

PM Modi praised the New Development Bank

PM Modi praised the role of New Development Bank which is dedicated to the development of the countries of Global South. He said that I congratulate Dilma Rousseff, the President of New Development Bank. This bank has been emerging as an important option for the development of the countries of Global South in the last 10 years. He said that the opening of GIFT City in India has strengthened the activities of this bank. NDB should continue working on this. Demand-driven principle and while expanding the bank, priority should be given to ensuring long-term financial sustainability, healthy credit rating and access to the market. After India, Russia also made a big announcement for the Global South. After this, seeing the Global South slipping from his hands, Xi Jinping was also forced to support these backward countries with a heavy heart.  

President Putin's big gift to the Global South, made this announcement

Russian President Vladimir Putin gave a big gift to the countries of the Global South by supporting India's initiative. He said, we propose to establish a new BRICS investment platform. This will be the new BRICS global investment platform to provide financial resources to all the countries of the Global South. We need to jointly promote low-emission models of the economy. Jinping became restless after seeing Russia also supporting India to become the voice of the Global South. After that he also had to raise the issue of its rights. 

China was forced

After India and Russia clearly supported the Global South, China was also forced to raise its voice for its rights. Chinese President Xi Jinping said during this time that we need to increase the representation and voice of the Global South countries. For this, we should deepen the financial and economic cooperation of the Global South countries. China is afraid that the Global South's growing trust in India may oust China from those countries, because China has been trying to establish its dominance over the Global South for a long time. 

BRICS represents a quarter of the world's economy

PM Modi said that the 'BRICS' organization represents a quarter of the world's economy. The Prime Minister described it as an organization that has the will to change itself according to the times. He said, "The BRICS group, formed by the confluence of different views and ideologies, is a source of inspiration for the world, which promotes positive cooperation." This "Our diversity, respect for each other and our tradition of moving forward on the basis of consensus is the basis of our cooperation." 

Who are the members of BRICS?

Brazil, Russia, India, China and South Africa are the main members of BRICS and this group represents a quarter of the global economy. 'BRIC' started as a formal group after the leaders of Brazil, Russia, India and China met in St. Petersburg in 2006. 'BRIC' was agreed to expand as 'BRICS' by including South Africa in 2010. The group was expanded last year, which was the first such exercise since 2010. New member countries of BRICS include Egypt, Ethiopia, Iran and United Arab Emirates. Now Russian President Putin has claimed that the number of its member countries will gradually reach 30.