(One question being frequently asked is why are so many countries lining up to join the BRICS?)
Experts say, "enhancing their bargaining power with the BRICS drives most countries towards the bloc".
US President Joe Biden and G20 partners will discuss a range of joint efforts to tackle global issues, including on the clean energy transition and combatting climate change, mitigating the economic and social impacts of the Ukraine conflict, White House Press Secretary Karine Jean-Pierre said.
President Biden will travel to India from September 7 to 10 to attend the G-20 Leaders' Summit.
While in New Delhi, President Biden will also commend Prime Minister Narendra Modi’s leadership of the G20 and reaffirm the US commitment to the G20 as the premier forum of economic cooperation, including by hosting it in 2026, Jean-Pierre said.
Donald Lu, the US assistant secretary of State for South and Central Asia had also mentioned about Biden's visit to India for the G20 Summit.
“This is gonna be a big year for the India-US relationship. India is hosting the G20 and the US is hosting APEC, Japan the G7. We have lots of QUAD members who are taking on leadership roles and it provides us with opportunities to bring our countries closer,” Lu had said.
During Modi's State visit to the United States earlier this year, Biden had said he was looking forward to the G20 summit in September in New Delhi.
India assumed the G20 presidency for a year from December 1, 2022 to November 30, 2023 and has been hosting several meetings across the country.
Join India's development journey: PM Modi's clarion call at BRICS Leaders Summit ::::::: What Pakistan has is a Farcical Democracy ?
"I invite all of you to be a part of India's journey of development. The COVID pandemic has taught us the importance of resilient and inclusive supply chains. Mutual trust and transparency are crucial for this," PM Narendra Modi said in his remarks at the BRICS Business Forum Leaders’ Dialogue at Johannesburg, South Africa.
This year it the first in-person BRICS Summit after three years of virtual meetings. He said when the first BRICS Summit was held in 2009, the world was emerging from a major economic crisis and the bloc had become a ray of hope for the global economic set-up.
“Despite the turmoil in the global economy, India is today the fastest growing major economy in the world....Soon India will become a $5 trillion economy. There is no doubt that India will be the growth engine of the world in the years to come.”
India has converted times of hardship into opportunities for economic recovery, and its reforms have led to an increase in the ease of doing business, he said.
"There is no doubt that in the coming years, India will be the Growth Engine of the world. This is because India has transformed times of adversity and challenges into an opportunity for economic reforms. In the past few years, the reforms we have undertaken in mission mode have led to consistent improvement in the ease of doing business in India.
This year it the first in-person BRICS Summit after three years of virtual meetings. He said when the first BRICS Summit was held in 2009, the world was emerging from a major economic crisis and the bloc had become a ray of hope for the global economic set-up.
“Despite the turmoil in the global economy, India is today the fastest growing major economy in the world....Soon India will become a $5 trillion economy. There is no doubt that India will be the growth engine of the world in the years to come.”
India has converted times of hardship into opportunities for economic recovery, and its reforms have led to an increase in the ease of doing business, he said.
"There is no doubt that in the coming years, India will be the Growth Engine of the world. This is because India has transformed times of adversity and challenges into an opportunity for economic reforms. In the past few years, the reforms we have undertaken in mission mode have led to consistent improvement in the ease of doing business in India.
We have reduced the compliance burden. We are replacing red tape with a red carpet."
The expansion of BRICS and a possible bilateral meeting with Chinese President Xi Jinping are major highlights of the summit.
Russian President Vladimir Putin will participate via video link due to an International Criminal Court arrest warrant against him over the Ukrainian conflict.
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