India prepares to host 18th BRICS Summit as group marks two decades since formalisation
· World · Indian Express, LiveMint
India is set to host the 18th BRICS Summit in New Delhi on September 12-13, marking 20 years since the group was formalised. The expanded 11-member bloc now accounts for approximately 36.8% of global GDP by purchasing power parity (PPP), a significant reversal from the G7's share which has fallen below 29%. While intra-BRICS trade reached $1.17 trillion in 2024, a thirteen-fold increase from previous levels, a massive wealth gap remains as per-capita GDP for BRICS averages around $8,200 compared to the G7's average of $53,000.
Why it matters
The summit highlights the shift in global economic weight from Western powers to emerging markets and positions India as a key leader in the representation of the Global South.
Read the original report — Indian Express
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