International Relations: November 2020 Current Affairs Current Affairs Notes | EduRev

Current Affairs & Hindu Analysis: Daily, Weekly & Monthly

Current Affairs : International Relations: November 2020 Current Affairs Current Affairs Notes | EduRev

 Page 1


 
13                                                                               www.visionias.in                                                                        ©Vision IAS  
2. INTERNATIONAL RELATIONS 
2.1. REGIONAL COMPREHENSIVE ECONOMIC PARTNERSHIP (RCEP) AND 
INDIA 
Why in News? 
Recently, 15 Asia-Pacific nations have signed the Regional 
Comprehensive Economic Partnership (RCEP), while India chose 
to opt out of the trade agreement. 
About RCEP 
• Regional Comprehensive Economic Partnership (RCEP) is a 
Free Trade Agreement (FTA) that has been signed between 
15 countries including the 10 ASEAN members, China, 
Japan, South Korea, Australia and New Zealand. 
• It now forms the world’s largest trade bloc, covering over 
2.2 billion people and accounting for 30 per cent of the 
world’s economy. 
• The RCEP was first proposed at the 19th ASEAN meet in 
2011 with an aim to create a consolidated market for the 
ASEAN countries and their trade partners. 
• While India was a part of the RCEP’s negotiations, it dropped out in November 2019, citing significant 
outstanding issues that remain unresolved. Although India has been given the option of joining it later. 
Why did India pull out of RCEP? 
• Trade imbalance with RCEP members: India’s trade deficit 
with RCEP countries has almost doubled in the last five-six 
years – from $54 billion in 2013-14 to $105 billion in 2018-
19, of which China alone accounts for $53 billion.  
• Geopolitical considerations: India wanted RCEP to exclude 
most-favoured nation (MFN) obligations from the 
investment chapter, as it did not want to hand out, especially 
to countries with which it has border disputes (China), the 
benefits it was giving to strategic allies or for geopolitical 
reasons.  
• Security considerations: Closer economic ties under RCEP 
have the potential to make the countries of the region even 
more vulnerable to China’s economic and political coercion. 
This could impact India’s security interests in Southeast Asia.  
• Lack of adequate protection for domestic industries: India’s proposals for strict rules of origin (ROO) (criteria 
to determine the source country of a product based on which they get tariff concessions or duties) and an 
auto-trigger mechanism to impose tariffs when imports crossed a certain threshold were not accepted. 
o Losing flexibility to raise tariffs coupled with lack of strong protection measures and threat of 
circumvention of ROO through rerouting products from countries with lower tariffs can endanger growth 
of domestic industries by flooding Indian markets with foreign products that have been subsidized and 
emerge from countries with unfair production advantages. 
• Lack of Service component: Most developed RCEP countries where India can export services, have been 
unwilling to negotiate wide-ranging disciplines in services that can create new market access for trade in 
services in this region. 
• Impact on local industries: A large number of sectors including dairy, agriculture, steel, plastics, copper, 
aluminium, machine tools, paper, automobiles, chemicals and others had expressed serious apprehensions on 
RCEP citing dominance of cheap foreign goods would dampen its businesses.  
Page 2


 
13                                                                               www.visionias.in                                                                        ©Vision IAS  
2. INTERNATIONAL RELATIONS 
2.1. REGIONAL COMPREHENSIVE ECONOMIC PARTNERSHIP (RCEP) AND 
INDIA 
Why in News? 
Recently, 15 Asia-Pacific nations have signed the Regional 
Comprehensive Economic Partnership (RCEP), while India chose 
to opt out of the trade agreement. 
About RCEP 
• Regional Comprehensive Economic Partnership (RCEP) is a 
Free Trade Agreement (FTA) that has been signed between 
15 countries including the 10 ASEAN members, China, 
Japan, South Korea, Australia and New Zealand. 
• It now forms the world’s largest trade bloc, covering over 
2.2 billion people and accounting for 30 per cent of the 
world’s economy. 
• The RCEP was first proposed at the 19th ASEAN meet in 
2011 with an aim to create a consolidated market for the 
ASEAN countries and their trade partners. 
• While India was a part of the RCEP’s negotiations, it dropped out in November 2019, citing significant 
outstanding issues that remain unresolved. Although India has been given the option of joining it later. 
Why did India pull out of RCEP? 
• Trade imbalance with RCEP members: India’s trade deficit 
with RCEP countries has almost doubled in the last five-six 
years – from $54 billion in 2013-14 to $105 billion in 2018-
19, of which China alone accounts for $53 billion.  
• Geopolitical considerations: India wanted RCEP to exclude 
most-favoured nation (MFN) obligations from the 
investment chapter, as it did not want to hand out, especially 
to countries with which it has border disputes (China), the 
benefits it was giving to strategic allies or for geopolitical 
reasons.  
• Security considerations: Closer economic ties under RCEP 
have the potential to make the countries of the region even 
more vulnerable to China’s economic and political coercion. 
This could impact India’s security interests in Southeast Asia.  
• Lack of adequate protection for domestic industries: India’s proposals for strict rules of origin (ROO) (criteria 
to determine the source country of a product based on which they get tariff concessions or duties) and an 
auto-trigger mechanism to impose tariffs when imports crossed a certain threshold were not accepted. 
o Losing flexibility to raise tariffs coupled with lack of strong protection measures and threat of 
circumvention of ROO through rerouting products from countries with lower tariffs can endanger growth 
of domestic industries by flooding Indian markets with foreign products that have been subsidized and 
emerge from countries with unfair production advantages. 
• Lack of Service component: Most developed RCEP countries where India can export services, have been 
unwilling to negotiate wide-ranging disciplines in services that can create new market access for trade in 
services in this region. 
• Impact on local industries: A large number of sectors including dairy, agriculture, steel, plastics, copper, 
aluminium, machine tools, paper, automobiles, chemicals and others had expressed serious apprehensions on 
RCEP citing dominance of cheap foreign goods would dampen its businesses.  
 
14                                                                               www.visionias.in                                                                        ©Vision IAS  
• The impact of earlier FTAs on India’s trade balance has been ambiguous: Several trends in the existing FTAs 
that does not favour signing another FTA, include- 
o Usually, signing FTAs has required India to significantly cut import duties, since most partner countries 
already have low import duties. This has only led to trade diversion (diversion of trade from non FTA 
countries to FTA countries) and has rarely increased India’s exports. 
o A NITI Aayog report had stated that India’s exports to its FTAs partners have not outperformed exports to 
the rest of the world and have generally led to greater imports than exports, giving rise to high trade 
deficits with FTA partners like South Korea, Japan and ASEAN. 
• Other reasons include: 
o Lack of credible assurances on market access and non-tariff barriers. 
o Differences over tariff structure with China on goods.  
o India already has bilateral FTAs with ASEAN, Korea and Japan and negotiations are underway with Australia 
and New Zealand. 
o The e-commerce chapter has some clauses that affect data localization norms in India. 
Possible Implications of not joining RCEP 
• Protectionist image: Withdrawal from RCEP along with other recent measures such call for self-reliance under 
Atmanirbhar Abhiyan, revised public procurement order giving preference to local content etc. can be 
perceived as India taking a protectionist stance in terms of trade policy. 
• Impact on India’s export sector: RCEP was envisaged to strengthen Asian supply chains, bring in investments 
and boost the member countries’ competitiveness in global markets. Isolation, loss of potential investments 
and lack of competition might affect India’s performance in terms of exports and growth.  
• Lost opportunity in securing a position in the post COVID world: RCEP is expected to help member countries 
emerge from the economic devastation caused by the pandemic through access to regional supply chains. 
• Effect on bilateral ties with RCEP countries: There are concerns that the decision will hamper India’s bilateral 
trade with RCEP member countries as they would be inclined to bolster trade within the bloc. Also it could 
affect India’s relation with Japan and Australia with regards to their coordinated efforts in the Indo-Pacific. 
• Loss for consumers: Some products might become more expensive for Indian consumers, especially when 
global trade, investment and supply chains face unprecedented challenges due to the Covid-19 pandemic. 
Way Forward 
• Discussing benefits and costs of signing RCEP: Further discussions regarding whether or not to sign RCEP in 
the future must take into account facts about India’s trade balance and how its industries, exports and imports 
are placed vis-a-vis the trading partners. 
• Making India’s export sector globally competitive: Reducing the cost of doing business through infrastructure 
investment and improving the business environment holds the key for improving India’s export prospects.  
• Focusing on negotiating bilateral FTAs with countries where trade complementarities and margin of 
preference is high for example- European Union, USA.  
2.2. 17TH ASEAN-INDIA SUMMIT 
Why in news? 
Recently, 17th ASEAN-India Summit was held virtually.  
Key Highlights of the Summit 
• India announced a contribution of US$ 1 million to the COVID-19 ASEAN Response Fund. 
• Both India and ASEAN welcomed the adoption of the new ASEAN-India Plan of Action for 2021-2025. 
o The new Plan of Action (POA) builds upon the achievements made under the previous POAs for 2010-2015 
and 2016-2020, and guides the implementation of ASEAN-India Strategic Partnership. 
o The POA elucidates future strategies and possible engagements across varied fields including- Political 
Cooperation, Maritime Cooperation, Transnational Crime and Counter-Terrorism, Trade and Investment, 
Transport, Agriculture and Forestry, Information and Communication Technology (ICT), Tourism, Science, 
Technology and Innovation, Climate Change etc. 
• India reiterated its offer of US$ 1 billion Line of Credit to support ASEAN connectivity for greater physical and 
digital connectivity between ASEAN and India.  
Page 3


 
13                                                                               www.visionias.in                                                                        ©Vision IAS  
2. INTERNATIONAL RELATIONS 
2.1. REGIONAL COMPREHENSIVE ECONOMIC PARTNERSHIP (RCEP) AND 
INDIA 
Why in News? 
Recently, 15 Asia-Pacific nations have signed the Regional 
Comprehensive Economic Partnership (RCEP), while India chose 
to opt out of the trade agreement. 
About RCEP 
• Regional Comprehensive Economic Partnership (RCEP) is a 
Free Trade Agreement (FTA) that has been signed between 
15 countries including the 10 ASEAN members, China, 
Japan, South Korea, Australia and New Zealand. 
• It now forms the world’s largest trade bloc, covering over 
2.2 billion people and accounting for 30 per cent of the 
world’s economy. 
• The RCEP was first proposed at the 19th ASEAN meet in 
2011 with an aim to create a consolidated market for the 
ASEAN countries and their trade partners. 
• While India was a part of the RCEP’s negotiations, it dropped out in November 2019, citing significant 
outstanding issues that remain unresolved. Although India has been given the option of joining it later. 
Why did India pull out of RCEP? 
• Trade imbalance with RCEP members: India’s trade deficit 
with RCEP countries has almost doubled in the last five-six 
years – from $54 billion in 2013-14 to $105 billion in 2018-
19, of which China alone accounts for $53 billion.  
• Geopolitical considerations: India wanted RCEP to exclude 
most-favoured nation (MFN) obligations from the 
investment chapter, as it did not want to hand out, especially 
to countries with which it has border disputes (China), the 
benefits it was giving to strategic allies or for geopolitical 
reasons.  
• Security considerations: Closer economic ties under RCEP 
have the potential to make the countries of the region even 
more vulnerable to China’s economic and political coercion. 
This could impact India’s security interests in Southeast Asia.  
• Lack of adequate protection for domestic industries: India’s proposals for strict rules of origin (ROO) (criteria 
to determine the source country of a product based on which they get tariff concessions or duties) and an 
auto-trigger mechanism to impose tariffs when imports crossed a certain threshold were not accepted. 
o Losing flexibility to raise tariffs coupled with lack of strong protection measures and threat of 
circumvention of ROO through rerouting products from countries with lower tariffs can endanger growth 
of domestic industries by flooding Indian markets with foreign products that have been subsidized and 
emerge from countries with unfair production advantages. 
• Lack of Service component: Most developed RCEP countries where India can export services, have been 
unwilling to negotiate wide-ranging disciplines in services that can create new market access for trade in 
services in this region. 
• Impact on local industries: A large number of sectors including dairy, agriculture, steel, plastics, copper, 
aluminium, machine tools, paper, automobiles, chemicals and others had expressed serious apprehensions on 
RCEP citing dominance of cheap foreign goods would dampen its businesses.  
 
14                                                                               www.visionias.in                                                                        ©Vision IAS  
• The impact of earlier FTAs on India’s trade balance has been ambiguous: Several trends in the existing FTAs 
that does not favour signing another FTA, include- 
o Usually, signing FTAs has required India to significantly cut import duties, since most partner countries 
already have low import duties. This has only led to trade diversion (diversion of trade from non FTA 
countries to FTA countries) and has rarely increased India’s exports. 
o A NITI Aayog report had stated that India’s exports to its FTAs partners have not outperformed exports to 
the rest of the world and have generally led to greater imports than exports, giving rise to high trade 
deficits with FTA partners like South Korea, Japan and ASEAN. 
• Other reasons include: 
o Lack of credible assurances on market access and non-tariff barriers. 
o Differences over tariff structure with China on goods.  
o India already has bilateral FTAs with ASEAN, Korea and Japan and negotiations are underway with Australia 
and New Zealand. 
o The e-commerce chapter has some clauses that affect data localization norms in India. 
Possible Implications of not joining RCEP 
• Protectionist image: Withdrawal from RCEP along with other recent measures such call for self-reliance under 
Atmanirbhar Abhiyan, revised public procurement order giving preference to local content etc. can be 
perceived as India taking a protectionist stance in terms of trade policy. 
• Impact on India’s export sector: RCEP was envisaged to strengthen Asian supply chains, bring in investments 
and boost the member countries’ competitiveness in global markets. Isolation, loss of potential investments 
and lack of competition might affect India’s performance in terms of exports and growth.  
• Lost opportunity in securing a position in the post COVID world: RCEP is expected to help member countries 
emerge from the economic devastation caused by the pandemic through access to regional supply chains. 
• Effect on bilateral ties with RCEP countries: There are concerns that the decision will hamper India’s bilateral 
trade with RCEP member countries as they would be inclined to bolster trade within the bloc. Also it could 
affect India’s relation with Japan and Australia with regards to their coordinated efforts in the Indo-Pacific. 
• Loss for consumers: Some products might become more expensive for Indian consumers, especially when 
global trade, investment and supply chains face unprecedented challenges due to the Covid-19 pandemic. 
Way Forward 
• Discussing benefits and costs of signing RCEP: Further discussions regarding whether or not to sign RCEP in 
the future must take into account facts about India’s trade balance and how its industries, exports and imports 
are placed vis-a-vis the trading partners. 
• Making India’s export sector globally competitive: Reducing the cost of doing business through infrastructure 
investment and improving the business environment holds the key for improving India’s export prospects.  
• Focusing on negotiating bilateral FTAs with countries where trade complementarities and margin of 
preference is high for example- European Union, USA.  
2.2. 17TH ASEAN-INDIA SUMMIT 
Why in news? 
Recently, 17th ASEAN-India Summit was held virtually.  
Key Highlights of the Summit 
• India announced a contribution of US$ 1 million to the COVID-19 ASEAN Response Fund. 
• Both India and ASEAN welcomed the adoption of the new ASEAN-India Plan of Action for 2021-2025. 
o The new Plan of Action (POA) builds upon the achievements made under the previous POAs for 2010-2015 
and 2016-2020, and guides the implementation of ASEAN-India Strategic Partnership. 
o The POA elucidates future strategies and possible engagements across varied fields including- Political 
Cooperation, Maritime Cooperation, Transnational Crime and Counter-Terrorism, Trade and Investment, 
Transport, Agriculture and Forestry, Information and Communication Technology (ICT), Tourism, Science, 
Technology and Innovation, Climate Change etc. 
• India reiterated its offer of US$ 1 billion Line of Credit to support ASEAN connectivity for greater physical and 
digital connectivity between ASEAN and India.  
 
15                                                                               www.visionias.in                                                                        ©Vision IAS  
• Both sides also started discussions for 
determining the scope of review of India-
ASEAN free trade agreement (FTA) at the 
earliest with a view to make the pact more 
user-friendly, simple, and trade facilitative for 
businesses. 
Importance of ASEAN for India 
• ASEAN’s centrality in India’s foreign policy: A 
cohesive, responsive and prosperous ASEAN 
is central to India's Indo-Pacific Vision and 
India's Act East Policy and contributes to 
Security and Growth for All in the Region 
(SAGAR).   
• Maritime security: The Indian Ocean carries 
90% of India’s trade and its energy sources. 
Presence of choke points such as the Malacca 
strait makes the South East Asian region 
significant for countering traditional and non-
traditional maritime threats like piracy and 
terrorism. 
• Investment opportunities for Indian businesses: Cost of production is lower in Laos, Cambodia, and Myanmar, 
it means that Indian firms can gain significantly by investing in these countries.  
• Lucrative market for Indian firms: Around 67 
million households in ASEAN states are part of 
the consuming class with incomes exceeding the 
level at which they can begin to make significant 
discretionary purchases, making ASEAN a pivotal 
consumer market of the future. 
• Countering China: Cooperation between India 
and ASEAN is crucial to counter China’s power 
projection in the region. Both have territorial and 
border issues with China, disputes over the South 
China Islands and waters for ASEAN and over land 
boundaries for India.  
• Integration with regional and global supply 
chains: Increasing engagement with ASEAN is 
pivotal to facilitate India’s integration with 
regional and global supply chain movements.  
o Strengthening relations with ASEAN 
members such as Vietnam which has recently 
signed a free trade agreement with European 
Union can prove beneficial for India. 
• Addressing regional and international issues: 
India and ASEAN have of common interest and 
concerns such as promoting a rules-based order 
in the region including through upholding adherence to international law, maintaining and promoting peace, 
stability, safety and security in the South China Sea, ensuring freedom of navigation and overflight, free trade, 
connectivity, human rights, climate change mitigation and adaptation etc.  
• Failure of South Asian Association for Regional Cooperation (SAARC): It has made India look outside South 
Asia towards countries of Southeast Asia for economic and political cooperation. 
 
Concerns 
• Trade Deficit:  The two-way trade between India and 
ASEAN is tilted towards ASEAN with the trade gap 
expanding rapidly.  
o India’s trade deficit with ASEAN rose from less than 
US$ 8 billion in 2009-10 to about US$ 22 billion in 
2018-19. 
• RCEP: India walking out of RCEP can become a sticking 
point between India and ASEAN, since India’s domestic 
market was considered a key element in the RCEP 
negotiations. 
• India’s limited Capacity: India’s capacity to provide 
development assistance, market access, and security 
guarantees remains limited. 
• Inadequate infrastructure: Due to lack of adequate 
physical and institutional infrastructure between India 
and Southeast Asia, trading remains underutilized. 
o Moreover, the presence of non-tariff barriers and 
restrictive institutional arrangements hinder the 
movement of goods and services. 
• Chinese Influence: China is a prominent trade and 
investment partner of ASEAN. Recently ASEAN became 
China’s largest trading partner. Growing economic ties 
between China-ASEAN is concerning for India. 
Association of Southeast Asian Nations (ASEAN) 
• It is an intergovernmental organization of ten Southeast 
Asian countries: Brunei, Cambodia, Indonesia, Laos, 
Malaysia, Myanmar, the Philippines, Singapore, Thailand, 
and Vietnam. 
• It promotes intergovernmental cooperation and facilitates 
economic, political, security, military, educational, and 
sociocultural integration among its members and other 
countries. 
 
Page 4


 
13                                                                               www.visionias.in                                                                        ©Vision IAS  
2. INTERNATIONAL RELATIONS 
2.1. REGIONAL COMPREHENSIVE ECONOMIC PARTNERSHIP (RCEP) AND 
INDIA 
Why in News? 
Recently, 15 Asia-Pacific nations have signed the Regional 
Comprehensive Economic Partnership (RCEP), while India chose 
to opt out of the trade agreement. 
About RCEP 
• Regional Comprehensive Economic Partnership (RCEP) is a 
Free Trade Agreement (FTA) that has been signed between 
15 countries including the 10 ASEAN members, China, 
Japan, South Korea, Australia and New Zealand. 
• It now forms the world’s largest trade bloc, covering over 
2.2 billion people and accounting for 30 per cent of the 
world’s economy. 
• The RCEP was first proposed at the 19th ASEAN meet in 
2011 with an aim to create a consolidated market for the 
ASEAN countries and their trade partners. 
• While India was a part of the RCEP’s negotiations, it dropped out in November 2019, citing significant 
outstanding issues that remain unresolved. Although India has been given the option of joining it later. 
Why did India pull out of RCEP? 
• Trade imbalance with RCEP members: India’s trade deficit 
with RCEP countries has almost doubled in the last five-six 
years – from $54 billion in 2013-14 to $105 billion in 2018-
19, of which China alone accounts for $53 billion.  
• Geopolitical considerations: India wanted RCEP to exclude 
most-favoured nation (MFN) obligations from the 
investment chapter, as it did not want to hand out, especially 
to countries with which it has border disputes (China), the 
benefits it was giving to strategic allies or for geopolitical 
reasons.  
• Security considerations: Closer economic ties under RCEP 
have the potential to make the countries of the region even 
more vulnerable to China’s economic and political coercion. 
This could impact India’s security interests in Southeast Asia.  
• Lack of adequate protection for domestic industries: India’s proposals for strict rules of origin (ROO) (criteria 
to determine the source country of a product based on which they get tariff concessions or duties) and an 
auto-trigger mechanism to impose tariffs when imports crossed a certain threshold were not accepted. 
o Losing flexibility to raise tariffs coupled with lack of strong protection measures and threat of 
circumvention of ROO through rerouting products from countries with lower tariffs can endanger growth 
of domestic industries by flooding Indian markets with foreign products that have been subsidized and 
emerge from countries with unfair production advantages. 
• Lack of Service component: Most developed RCEP countries where India can export services, have been 
unwilling to negotiate wide-ranging disciplines in services that can create new market access for trade in 
services in this region. 
• Impact on local industries: A large number of sectors including dairy, agriculture, steel, plastics, copper, 
aluminium, machine tools, paper, automobiles, chemicals and others had expressed serious apprehensions on 
RCEP citing dominance of cheap foreign goods would dampen its businesses.  
 
14                                                                               www.visionias.in                                                                        ©Vision IAS  
• The impact of earlier FTAs on India’s trade balance has been ambiguous: Several trends in the existing FTAs 
that does not favour signing another FTA, include- 
o Usually, signing FTAs has required India to significantly cut import duties, since most partner countries 
already have low import duties. This has only led to trade diversion (diversion of trade from non FTA 
countries to FTA countries) and has rarely increased India’s exports. 
o A NITI Aayog report had stated that India’s exports to its FTAs partners have not outperformed exports to 
the rest of the world and have generally led to greater imports than exports, giving rise to high trade 
deficits with FTA partners like South Korea, Japan and ASEAN. 
• Other reasons include: 
o Lack of credible assurances on market access and non-tariff barriers. 
o Differences over tariff structure with China on goods.  
o India already has bilateral FTAs with ASEAN, Korea and Japan and negotiations are underway with Australia 
and New Zealand. 
o The e-commerce chapter has some clauses that affect data localization norms in India. 
Possible Implications of not joining RCEP 
• Protectionist image: Withdrawal from RCEP along with other recent measures such call for self-reliance under 
Atmanirbhar Abhiyan, revised public procurement order giving preference to local content etc. can be 
perceived as India taking a protectionist stance in terms of trade policy. 
• Impact on India’s export sector: RCEP was envisaged to strengthen Asian supply chains, bring in investments 
and boost the member countries’ competitiveness in global markets. Isolation, loss of potential investments 
and lack of competition might affect India’s performance in terms of exports and growth.  
• Lost opportunity in securing a position in the post COVID world: RCEP is expected to help member countries 
emerge from the economic devastation caused by the pandemic through access to regional supply chains. 
• Effect on bilateral ties with RCEP countries: There are concerns that the decision will hamper India’s bilateral 
trade with RCEP member countries as they would be inclined to bolster trade within the bloc. Also it could 
affect India’s relation with Japan and Australia with regards to their coordinated efforts in the Indo-Pacific. 
• Loss for consumers: Some products might become more expensive for Indian consumers, especially when 
global trade, investment and supply chains face unprecedented challenges due to the Covid-19 pandemic. 
Way Forward 
• Discussing benefits and costs of signing RCEP: Further discussions regarding whether or not to sign RCEP in 
the future must take into account facts about India’s trade balance and how its industries, exports and imports 
are placed vis-a-vis the trading partners. 
• Making India’s export sector globally competitive: Reducing the cost of doing business through infrastructure 
investment and improving the business environment holds the key for improving India’s export prospects.  
• Focusing on negotiating bilateral FTAs with countries where trade complementarities and margin of 
preference is high for example- European Union, USA.  
2.2. 17TH ASEAN-INDIA SUMMIT 
Why in news? 
Recently, 17th ASEAN-India Summit was held virtually.  
Key Highlights of the Summit 
• India announced a contribution of US$ 1 million to the COVID-19 ASEAN Response Fund. 
• Both India and ASEAN welcomed the adoption of the new ASEAN-India Plan of Action for 2021-2025. 
o The new Plan of Action (POA) builds upon the achievements made under the previous POAs for 2010-2015 
and 2016-2020, and guides the implementation of ASEAN-India Strategic Partnership. 
o The POA elucidates future strategies and possible engagements across varied fields including- Political 
Cooperation, Maritime Cooperation, Transnational Crime and Counter-Terrorism, Trade and Investment, 
Transport, Agriculture and Forestry, Information and Communication Technology (ICT), Tourism, Science, 
Technology and Innovation, Climate Change etc. 
• India reiterated its offer of US$ 1 billion Line of Credit to support ASEAN connectivity for greater physical and 
digital connectivity between ASEAN and India.  
 
15                                                                               www.visionias.in                                                                        ©Vision IAS  
• Both sides also started discussions for 
determining the scope of review of India-
ASEAN free trade agreement (FTA) at the 
earliest with a view to make the pact more 
user-friendly, simple, and trade facilitative for 
businesses. 
Importance of ASEAN for India 
• ASEAN’s centrality in India’s foreign policy: A 
cohesive, responsive and prosperous ASEAN 
is central to India's Indo-Pacific Vision and 
India's Act East Policy and contributes to 
Security and Growth for All in the Region 
(SAGAR).   
• Maritime security: The Indian Ocean carries 
90% of India’s trade and its energy sources. 
Presence of choke points such as the Malacca 
strait makes the South East Asian region 
significant for countering traditional and non-
traditional maritime threats like piracy and 
terrorism. 
• Investment opportunities for Indian businesses: Cost of production is lower in Laos, Cambodia, and Myanmar, 
it means that Indian firms can gain significantly by investing in these countries.  
• Lucrative market for Indian firms: Around 67 
million households in ASEAN states are part of 
the consuming class with incomes exceeding the 
level at which they can begin to make significant 
discretionary purchases, making ASEAN a pivotal 
consumer market of the future. 
• Countering China: Cooperation between India 
and ASEAN is crucial to counter China’s power 
projection in the region. Both have territorial and 
border issues with China, disputes over the South 
China Islands and waters for ASEAN and over land 
boundaries for India.  
• Integration with regional and global supply 
chains: Increasing engagement with ASEAN is 
pivotal to facilitate India’s integration with 
regional and global supply chain movements.  
o Strengthening relations with ASEAN 
members such as Vietnam which has recently 
signed a free trade agreement with European 
Union can prove beneficial for India. 
• Addressing regional and international issues: 
India and ASEAN have of common interest and 
concerns such as promoting a rules-based order 
in the region including through upholding adherence to international law, maintaining and promoting peace, 
stability, safety and security in the South China Sea, ensuring freedom of navigation and overflight, free trade, 
connectivity, human rights, climate change mitigation and adaptation etc.  
• Failure of South Asian Association for Regional Cooperation (SAARC): It has made India look outside South 
Asia towards countries of Southeast Asia for economic and political cooperation. 
 
Concerns 
• Trade Deficit:  The two-way trade between India and 
ASEAN is tilted towards ASEAN with the trade gap 
expanding rapidly.  
o India’s trade deficit with ASEAN rose from less than 
US$ 8 billion in 2009-10 to about US$ 22 billion in 
2018-19. 
• RCEP: India walking out of RCEP can become a sticking 
point between India and ASEAN, since India’s domestic 
market was considered a key element in the RCEP 
negotiations. 
• India’s limited Capacity: India’s capacity to provide 
development assistance, market access, and security 
guarantees remains limited. 
• Inadequate infrastructure: Due to lack of adequate 
physical and institutional infrastructure between India 
and Southeast Asia, trading remains underutilized. 
o Moreover, the presence of non-tariff barriers and 
restrictive institutional arrangements hinder the 
movement of goods and services. 
• Chinese Influence: China is a prominent trade and 
investment partner of ASEAN. Recently ASEAN became 
China’s largest trading partner. Growing economic ties 
between China-ASEAN is concerning for India. 
Association of Southeast Asian Nations (ASEAN) 
• It is an intergovernmental organization of ten Southeast 
Asian countries: Brunei, Cambodia, Indonesia, Laos, 
Malaysia, Myanmar, the Philippines, Singapore, Thailand, 
and Vietnam. 
• It promotes intergovernmental cooperation and facilitates 
economic, political, security, military, educational, and 
sociocultural integration among its members and other 
countries. 
 
 
16                                                                               www.visionias.in                                                                        ©Vision IAS  
Way Forward 
• Cooperation between India and ASEAN in the Indo Pacific region can be enhanced through convergence 
between India's Indo-Pacific Oceans Initiative and the ASEAN Outlook on Indo-Pacific. 
• To explore the opportunity in the post COVID world, ASEAN and India must upgrade the skilling, improve 
logistics services and strengthen the transportation infrastructure. Also bringing ASEAN in Supply Chain 
Resilience Initiative (SCRI) will strengthen our value chain linkages. 
• India should proactively utilize northeast states in its efforts towards regional connectivity with ASEAN 
countries, given their strategic location. Myanmar, for one, shares a land border with India’s northeast, 
thereby providing a bridge between Indian and Southeast Asian markets. 
• India-ASEAN relations should be enhanced through cooperation on common areas of interest like combating 
piracy, maritime disaster management and keeping the Sea Lanes of Communication open for trade. 
• There is a strong cultural connect that India has enjoyed with ASEAN Region through language, culture, 
dance, mythology, spirituality and religion. This provides an opportunity for India to build an organic relation 
based on shared cultural heritage. 
• India should actively engage with ASEAN to fast pace review of the FTA to strengthen rules of origin provisions, 
work towards removal of non-tariff barriers and provide better market access to Indian businesses. 
Overview of India-ASEAN Relations 
Background 
• India became a Strategic Partner of ASEAN in 2012, after progressing from its earlier roles of Sectoral Partner (1992), 
Dialogue Partner (1996) and Summit Level Partner (2002).  
• The India-ASEAN Strategic Partnership acquired a new momentum with the announcement of “Act-East Policy” in the 
12th Summit in 2014. 
• India's Act East Policy provides the guiding framework to take forward the ASEAN-India Strategic Partnership to the 
next level and recognizes connectivity in its broadest sense to include physical, economic, political and people-to-
people connectivity. 
• Currently, there are 30 Dialogue Mechanisms between India and ASEAN, cutting across various sectors.  
• Since ASEAN-India Commemorative Summit in 2002, the ASEAN-India Summits have been held every year.  
Economic and commercial relations 
• India has a Free Trade Agreement with ASEAN spanning goods, services and investment. 
• India-ASEAN trade and investment relations have been growing steadily, with ASEAN being India's fourth largest 
trading partner. 
• Between 1993 and 2003, ASEAN-India bilateral trade grew at an annual rate of 11.2 per cent. 
• Meanwhile, foreign direct investments (FDI) flow from India to ASEAN increased by 98 per cent from $1.02 billion in 
2018 to $2.02 billion in 2019.  
Political and Security Cooperation 
• Since India became a Dialogue Partner of ASEAN, the collaboration has transcended the realm of functional 
cooperation to cover political and security dimensions.  
• Dialogue and cooperation frameworks initiated by ASEAN such as the ASEAN Regional Forum (ARF), the East Asia 
Summit (EAS), ASEAN Defence Ministers’ Meeting plus etc. contribute to enhancing regional dialogue and 
accelerating regional integration.  
o The ADMM+ brings together Defence Ministers from the 10 ASEAN nations plus Australia, China, India, Japan, New 
Zealand, Republic of Korea, Russia, and the United States on a biannual basis. 
• At the 25th Anniversary of ASEAN-India Dialogue Relations in 2018, they adopted Delhi Declaration which charts out 
the future direction of ASEAN-India Strategic Partnership.  
• India has an annual Track 1.5 event Delhi Dialogue, for discussing politico-security and economic issues between 
ASEAN and India.  
Socio-Cultural Cooperation 
• Programmes and projects launched by India for capacity development and enhancing people-to-people connectivity, 
include exchange programmes for students, Parliamentarians, media personnel and farmers and Training 
Programmes for ASEAN diplomats.  
• In September 2019, External Affairs Minister and Minister of Human Resource Development launched 1000 
integrated PhD Fellowships for ASEAN students at the IITs. 
Page 5


 
13                                                                               www.visionias.in                                                                        ©Vision IAS  
2. INTERNATIONAL RELATIONS 
2.1. REGIONAL COMPREHENSIVE ECONOMIC PARTNERSHIP (RCEP) AND 
INDIA 
Why in News? 
Recently, 15 Asia-Pacific nations have signed the Regional 
Comprehensive Economic Partnership (RCEP), while India chose 
to opt out of the trade agreement. 
About RCEP 
• Regional Comprehensive Economic Partnership (RCEP) is a 
Free Trade Agreement (FTA) that has been signed between 
15 countries including the 10 ASEAN members, China, 
Japan, South Korea, Australia and New Zealand. 
• It now forms the world’s largest trade bloc, covering over 
2.2 billion people and accounting for 30 per cent of the 
world’s economy. 
• The RCEP was first proposed at the 19th ASEAN meet in 
2011 with an aim to create a consolidated market for the 
ASEAN countries and their trade partners. 
• While India was a part of the RCEP’s negotiations, it dropped out in November 2019, citing significant 
outstanding issues that remain unresolved. Although India has been given the option of joining it later. 
Why did India pull out of RCEP? 
• Trade imbalance with RCEP members: India’s trade deficit 
with RCEP countries has almost doubled in the last five-six 
years – from $54 billion in 2013-14 to $105 billion in 2018-
19, of which China alone accounts for $53 billion.  
• Geopolitical considerations: India wanted RCEP to exclude 
most-favoured nation (MFN) obligations from the 
investment chapter, as it did not want to hand out, especially 
to countries with which it has border disputes (China), the 
benefits it was giving to strategic allies or for geopolitical 
reasons.  
• Security considerations: Closer economic ties under RCEP 
have the potential to make the countries of the region even 
more vulnerable to China’s economic and political coercion. 
This could impact India’s security interests in Southeast Asia.  
• Lack of adequate protection for domestic industries: India’s proposals for strict rules of origin (ROO) (criteria 
to determine the source country of a product based on which they get tariff concessions or duties) and an 
auto-trigger mechanism to impose tariffs when imports crossed a certain threshold were not accepted. 
o Losing flexibility to raise tariffs coupled with lack of strong protection measures and threat of 
circumvention of ROO through rerouting products from countries with lower tariffs can endanger growth 
of domestic industries by flooding Indian markets with foreign products that have been subsidized and 
emerge from countries with unfair production advantages. 
• Lack of Service component: Most developed RCEP countries where India can export services, have been 
unwilling to negotiate wide-ranging disciplines in services that can create new market access for trade in 
services in this region. 
• Impact on local industries: A large number of sectors including dairy, agriculture, steel, plastics, copper, 
aluminium, machine tools, paper, automobiles, chemicals and others had expressed serious apprehensions on 
RCEP citing dominance of cheap foreign goods would dampen its businesses.  
 
14                                                                               www.visionias.in                                                                        ©Vision IAS  
• The impact of earlier FTAs on India’s trade balance has been ambiguous: Several trends in the existing FTAs 
that does not favour signing another FTA, include- 
o Usually, signing FTAs has required India to significantly cut import duties, since most partner countries 
already have low import duties. This has only led to trade diversion (diversion of trade from non FTA 
countries to FTA countries) and has rarely increased India’s exports. 
o A NITI Aayog report had stated that India’s exports to its FTAs partners have not outperformed exports to 
the rest of the world and have generally led to greater imports than exports, giving rise to high trade 
deficits with FTA partners like South Korea, Japan and ASEAN. 
• Other reasons include: 
o Lack of credible assurances on market access and non-tariff barriers. 
o Differences over tariff structure with China on goods.  
o India already has bilateral FTAs with ASEAN, Korea and Japan and negotiations are underway with Australia 
and New Zealand. 
o The e-commerce chapter has some clauses that affect data localization norms in India. 
Possible Implications of not joining RCEP 
• Protectionist image: Withdrawal from RCEP along with other recent measures such call for self-reliance under 
Atmanirbhar Abhiyan, revised public procurement order giving preference to local content etc. can be 
perceived as India taking a protectionist stance in terms of trade policy. 
• Impact on India’s export sector: RCEP was envisaged to strengthen Asian supply chains, bring in investments 
and boost the member countries’ competitiveness in global markets. Isolation, loss of potential investments 
and lack of competition might affect India’s performance in terms of exports and growth.  
• Lost opportunity in securing a position in the post COVID world: RCEP is expected to help member countries 
emerge from the economic devastation caused by the pandemic through access to regional supply chains. 
• Effect on bilateral ties with RCEP countries: There are concerns that the decision will hamper India’s bilateral 
trade with RCEP member countries as they would be inclined to bolster trade within the bloc. Also it could 
affect India’s relation with Japan and Australia with regards to their coordinated efforts in the Indo-Pacific. 
• Loss for consumers: Some products might become more expensive for Indian consumers, especially when 
global trade, investment and supply chains face unprecedented challenges due to the Covid-19 pandemic. 
Way Forward 
• Discussing benefits and costs of signing RCEP: Further discussions regarding whether or not to sign RCEP in 
the future must take into account facts about India’s trade balance and how its industries, exports and imports 
are placed vis-a-vis the trading partners. 
• Making India’s export sector globally competitive: Reducing the cost of doing business through infrastructure 
investment and improving the business environment holds the key for improving India’s export prospects.  
• Focusing on negotiating bilateral FTAs with countries where trade complementarities and margin of 
preference is high for example- European Union, USA.  
2.2. 17TH ASEAN-INDIA SUMMIT 
Why in news? 
Recently, 17th ASEAN-India Summit was held virtually.  
Key Highlights of the Summit 
• India announced a contribution of US$ 1 million to the COVID-19 ASEAN Response Fund. 
• Both India and ASEAN welcomed the adoption of the new ASEAN-India Plan of Action for 2021-2025. 
o The new Plan of Action (POA) builds upon the achievements made under the previous POAs for 2010-2015 
and 2016-2020, and guides the implementation of ASEAN-India Strategic Partnership. 
o The POA elucidates future strategies and possible engagements across varied fields including- Political 
Cooperation, Maritime Cooperation, Transnational Crime and Counter-Terrorism, Trade and Investment, 
Transport, Agriculture and Forestry, Information and Communication Technology (ICT), Tourism, Science, 
Technology and Innovation, Climate Change etc. 
• India reiterated its offer of US$ 1 billion Line of Credit to support ASEAN connectivity for greater physical and 
digital connectivity between ASEAN and India.  
 
15                                                                               www.visionias.in                                                                        ©Vision IAS  
• Both sides also started discussions for 
determining the scope of review of India-
ASEAN free trade agreement (FTA) at the 
earliest with a view to make the pact more 
user-friendly, simple, and trade facilitative for 
businesses. 
Importance of ASEAN for India 
• ASEAN’s centrality in India’s foreign policy: A 
cohesive, responsive and prosperous ASEAN 
is central to India's Indo-Pacific Vision and 
India's Act East Policy and contributes to 
Security and Growth for All in the Region 
(SAGAR).   
• Maritime security: The Indian Ocean carries 
90% of India’s trade and its energy sources. 
Presence of choke points such as the Malacca 
strait makes the South East Asian region 
significant for countering traditional and non-
traditional maritime threats like piracy and 
terrorism. 
• Investment opportunities for Indian businesses: Cost of production is lower in Laos, Cambodia, and Myanmar, 
it means that Indian firms can gain significantly by investing in these countries.  
• Lucrative market for Indian firms: Around 67 
million households in ASEAN states are part of 
the consuming class with incomes exceeding the 
level at which they can begin to make significant 
discretionary purchases, making ASEAN a pivotal 
consumer market of the future. 
• Countering China: Cooperation between India 
and ASEAN is crucial to counter China’s power 
projection in the region. Both have territorial and 
border issues with China, disputes over the South 
China Islands and waters for ASEAN and over land 
boundaries for India.  
• Integration with regional and global supply 
chains: Increasing engagement with ASEAN is 
pivotal to facilitate India’s integration with 
regional and global supply chain movements.  
o Strengthening relations with ASEAN 
members such as Vietnam which has recently 
signed a free trade agreement with European 
Union can prove beneficial for India. 
• Addressing regional and international issues: 
India and ASEAN have of common interest and 
concerns such as promoting a rules-based order 
in the region including through upholding adherence to international law, maintaining and promoting peace, 
stability, safety and security in the South China Sea, ensuring freedom of navigation and overflight, free trade, 
connectivity, human rights, climate change mitigation and adaptation etc.  
• Failure of South Asian Association for Regional Cooperation (SAARC): It has made India look outside South 
Asia towards countries of Southeast Asia for economic and political cooperation. 
 
Concerns 
• Trade Deficit:  The two-way trade between India and 
ASEAN is tilted towards ASEAN with the trade gap 
expanding rapidly.  
o India’s trade deficit with ASEAN rose from less than 
US$ 8 billion in 2009-10 to about US$ 22 billion in 
2018-19. 
• RCEP: India walking out of RCEP can become a sticking 
point between India and ASEAN, since India’s domestic 
market was considered a key element in the RCEP 
negotiations. 
• India’s limited Capacity: India’s capacity to provide 
development assistance, market access, and security 
guarantees remains limited. 
• Inadequate infrastructure: Due to lack of adequate 
physical and institutional infrastructure between India 
and Southeast Asia, trading remains underutilized. 
o Moreover, the presence of non-tariff barriers and 
restrictive institutional arrangements hinder the 
movement of goods and services. 
• Chinese Influence: China is a prominent trade and 
investment partner of ASEAN. Recently ASEAN became 
China’s largest trading partner. Growing economic ties 
between China-ASEAN is concerning for India. 
Association of Southeast Asian Nations (ASEAN) 
• It is an intergovernmental organization of ten Southeast 
Asian countries: Brunei, Cambodia, Indonesia, Laos, 
Malaysia, Myanmar, the Philippines, Singapore, Thailand, 
and Vietnam. 
• It promotes intergovernmental cooperation and facilitates 
economic, political, security, military, educational, and 
sociocultural integration among its members and other 
countries. 
 
 
16                                                                               www.visionias.in                                                                        ©Vision IAS  
Way Forward 
• Cooperation between India and ASEAN in the Indo Pacific region can be enhanced through convergence 
between India's Indo-Pacific Oceans Initiative and the ASEAN Outlook on Indo-Pacific. 
• To explore the opportunity in the post COVID world, ASEAN and India must upgrade the skilling, improve 
logistics services and strengthen the transportation infrastructure. Also bringing ASEAN in Supply Chain 
Resilience Initiative (SCRI) will strengthen our value chain linkages. 
• India should proactively utilize northeast states in its efforts towards regional connectivity with ASEAN 
countries, given their strategic location. Myanmar, for one, shares a land border with India’s northeast, 
thereby providing a bridge between Indian and Southeast Asian markets. 
• India-ASEAN relations should be enhanced through cooperation on common areas of interest like combating 
piracy, maritime disaster management and keeping the Sea Lanes of Communication open for trade. 
• There is a strong cultural connect that India has enjoyed with ASEAN Region through language, culture, 
dance, mythology, spirituality and religion. This provides an opportunity for India to build an organic relation 
based on shared cultural heritage. 
• India should actively engage with ASEAN to fast pace review of the FTA to strengthen rules of origin provisions, 
work towards removal of non-tariff barriers and provide better market access to Indian businesses. 
Overview of India-ASEAN Relations 
Background 
• India became a Strategic Partner of ASEAN in 2012, after progressing from its earlier roles of Sectoral Partner (1992), 
Dialogue Partner (1996) and Summit Level Partner (2002).  
• The India-ASEAN Strategic Partnership acquired a new momentum with the announcement of “Act-East Policy” in the 
12th Summit in 2014. 
• India's Act East Policy provides the guiding framework to take forward the ASEAN-India Strategic Partnership to the 
next level and recognizes connectivity in its broadest sense to include physical, economic, political and people-to-
people connectivity. 
• Currently, there are 30 Dialogue Mechanisms between India and ASEAN, cutting across various sectors.  
• Since ASEAN-India Commemorative Summit in 2002, the ASEAN-India Summits have been held every year.  
Economic and commercial relations 
• India has a Free Trade Agreement with ASEAN spanning goods, services and investment. 
• India-ASEAN trade and investment relations have been growing steadily, with ASEAN being India's fourth largest 
trading partner. 
• Between 1993 and 2003, ASEAN-India bilateral trade grew at an annual rate of 11.2 per cent. 
• Meanwhile, foreign direct investments (FDI) flow from India to ASEAN increased by 98 per cent from $1.02 billion in 
2018 to $2.02 billion in 2019.  
Political and Security Cooperation 
• Since India became a Dialogue Partner of ASEAN, the collaboration has transcended the realm of functional 
cooperation to cover political and security dimensions.  
• Dialogue and cooperation frameworks initiated by ASEAN such as the ASEAN Regional Forum (ARF), the East Asia 
Summit (EAS), ASEAN Defence Ministers’ Meeting plus etc. contribute to enhancing regional dialogue and 
accelerating regional integration.  
o The ADMM+ brings together Defence Ministers from the 10 ASEAN nations plus Australia, China, India, Japan, New 
Zealand, Republic of Korea, Russia, and the United States on a biannual basis. 
• At the 25th Anniversary of ASEAN-India Dialogue Relations in 2018, they adopted Delhi Declaration which charts out 
the future direction of ASEAN-India Strategic Partnership.  
• India has an annual Track 1.5 event Delhi Dialogue, for discussing politico-security and economic issues between 
ASEAN and India.  
Socio-Cultural Cooperation 
• Programmes and projects launched by India for capacity development and enhancing people-to-people connectivity, 
include exchange programmes for students, Parliamentarians, media personnel and farmers and Training 
Programmes for ASEAN diplomats.  
• In September 2019, External Affairs Minister and Minister of Human Resource Development launched 1000 
integrated PhD Fellowships for ASEAN students at the IITs. 
 
17                                                                               www.visionias.in                                                                        ©Vision IAS  
• ASEAN countries are emerging as the major tourist destinations for Indians. Out of 129 million foreign tourist arrivals 
to ASEAN in 2018, 3.45 million were from India.  
• Indian Diaspora in the ASEAN region, which constitutes about 20% of India's total diaspora, plays a seminal role in 
strengthening India-ASEAN ties. 
Connectivity 
• In 2013, India became the third dialogue partner of ASEAN to initiate an ASEAN Connectivity Coordinating 
Committee-India Meeting.  
•  India has made considerable progress in implementing the India-Myanmar-Thailand Trilateral Highway and the 
Kaladan Multimodal Project. 
o A possible extension to India-Myanmar-Thailand Trilateral Highway to Cambodia, Lao PDR and Viet Nam is also 
under consideration.  
Science and Technology  
• At the 6th ASEAN-India Summit in 2007, India announced the setting up of an ASEAN-India Science & Technology 
Development Fund with a $ 1 million contribution from India to promote joint collaborative R&D research projects in 
Science & Technology.  
• This Fund become operational in 2009-10 and has been enhanced to $5 million from 2016-17. 
Environment 
• At the 6th ASEAN-India summit in 2007, India also announced the setting up of an ASEAN-India Green Fund with an 
initial contribution of US$ 5 million from India, to support collaboration activities relating to environment and climate 
change.  
• Some of the areas identified for collaboration under the Fund are climate change, energy efficiency, clean 
technologies, renewable energy, biodiversity conservation and environmental education. 
2.3. BRICS 
Why in news? 
The 2020 BRICS Summit was held virtually under the 
chairmanship of Russia, which adopted the motto for the 
year as ‘BRICS Partnership for Global Stability, Shared 
Security and Innovative Growth’. 
Key Takeaways of the summit  
Moscow Declaration was adopted which reflects the five 
countries’ consolidated approach to the further 
development of the association. Two pillars of this year's 
summit are the economy and counterterrorism: 
• Strategy for BRICS Economic Partnership 2020-2025 
was signed: It focussed on three priority areas — 
trade, investment and finance; digital economy; and 
sustainable development. 
• The BRICS counter-terrorism strategy: with the 
objective of contributing to the global efforts to 
combat terrorism while also strengthening intra-
BRICS ties in the area. This includes improving 
intelligence sharing, cracking down on their sources 
of finance and preventing the spread of terrorism. 
• Other highlights: 
o Proposals to set up a BRICS Integrated Early 
Warning System for future outbreaks of 
infectious diseases and to minimise the risks of 
such outbreaks turning into pandemics. 
o BRICS countries also highlighted the urgency of 
agreeing on an extension of the 2010 Russia-U.S. Treaty on Measures for the Further Reduction and 
About BRICS 
• BRICS started in 2001 as BRIC, an acronym coined 
by Goldman Sachs for Brazil, Russia, India, and 
China. South Africa was added in 2010. The notion 
behind the coinage was that the nations' 
economies would come to collectively dominate 
global growth by 2050. 
• The BRICS grouping aims to promote peace, 
security, development and cooperation in the 
world. It also aims at making a positive impact on 
the development of humanity and establishing a 
more equitable and fair world.  
• BRICS Nations account for 
 
Read More
Offer running on EduRev: Apply code STAYHOME200 to get INR 200 off on our premium plan EduRev Infinity!

Related Searches

Viva Questions

,

Extra Questions

,

Previous Year Questions with Solutions

,

practice quizzes

,

MCQs

,

shortcuts and tricks

,

Semester Notes

,

Summary

,

International Relations: November 2020 Current Affairs Current Affairs Notes | EduRev

,

video lectures

,

Important questions

,

International Relations: November 2020 Current Affairs Current Affairs Notes | EduRev

,

Free

,

ppt

,

study material

,

International Relations: November 2020 Current Affairs Current Affairs Notes | EduRev

,

Sample Paper

,

pdf

,

past year papers

,

Objective type Questions

,

Exam

,

mock tests for examination

;