{"id":15238,"date":"2021-05-15T00:00:00","date_gmt":"2021-05-15T00:00:00","guid":{"rendered":"https:\/\/www.nextias.com\/current_affairs\/uncategorized\/15-05-2021\/brics-employment-working-group-meeting\/"},"modified":"2024-05-08T13:25:49","modified_gmt":"2024-05-08T07:55:49","slug":"brics-employment-working-group-meeting","status":"publish","type":"post","link":"https:\/\/www.nextias.com\/ca\/current-affairs\/15-05-2021\/brics-employment-working-group-meeting","title":{"rendered":"BRICS Employment Working Group Meeting"},"content":{"rendered":"<p><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong><u>In News<\/u><\/strong><\/span><\/span><\/span><\/p>\n<p><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">Recently, <\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>India <\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">has chaired the<\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong> First <\/strong><\/span><\/span><\/span><a style=\"text-decoration: none;\" href=\"https:\/\/www.nextias.com\/current-affairs\/10-04-2021\/537\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #1155cc;\"><strong><u>BRICS<\/u><\/strong><\/span><\/span><\/span><\/a><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong> Employment Working Group (EWG) Meeting<\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">, held virtually.<\/span><\/span><\/span><\/p>\n<ul>\n<li style=\"list-style-type: disc;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>Participants: <\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">Representatives of<\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong> member nations <\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">(Brazil, Russia, India, China and South Africa), the representatives of <\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>International Labour Organization<\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"> (ILO) and <\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>International Social Security Agency <\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">(ISSA) also made valuable interventions and suggestions on the agenda issues.<\/span><\/span><\/span><\/li>\n<\/ul>\n<p><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong><u>Prime Agendas of the Meeting<\/u><\/strong><\/span><\/span><\/span><\/p>\n<ul>\n<li style=\"list-style-type: disc;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>Promoting Social Security Agreements (SSA)<\/strong><\/span><\/span><\/span>\n<ul>\n<li style=\"list-style-type: circle;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">SSA would <\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>help the international workers<\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"> to port their benefit to their home countries thereby <\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>preventing loss<\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"> of their hard earned money.<\/span><\/span><\/span>\n<ul>\n<li style=\"list-style-type: square;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">Further they will be <\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>exempted from contributing both in home as well as host <\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">countries.<\/span><\/span><\/span><\/li>\n<\/ul>\n<\/li>\n<li style=\"list-style-type: circle;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">Members <\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>resolved <\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">to enter into<\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong> dialogue and discussion <\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">with each other and take it forward towards signing of the agreements.<\/span><\/span><\/span><\/li>\n<li style=\"list-style-type: circle;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">They also <\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>converged on devising a multilateral framework<\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"> for the same.<\/span><\/span><\/span><\/li>\n<li style=\"list-style-type: circle;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>ISSA and ILO<\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"> expressed<\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong> willingness to provide technical support<\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"> in facilitating conclusion of such agreements.<\/span><\/span><\/span><\/li>\n<\/ul>\n<\/li>\n<li style=\"list-style-type: disc;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>Formalization of Labour Markets<\/strong><\/span><\/span><\/span>\n<ul>\n<li style=\"list-style-type: circle;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">Members discussed various initiatives taken by them towards <\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>formalization of jobs<\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">.<\/span><\/span><\/span><\/li>\n<li style=\"list-style-type: circle;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">They also discussed how <\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>Covid-19 has enhanced informalization risk<\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">.<\/span><\/span><\/span><\/li>\n<\/ul>\n<\/li>\n<li style=\"list-style-type: disc;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>Participation of Women in Labour Force<\/strong><\/span><\/span><\/span>\n<ul>\n<li style=\"list-style-type: circle;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">Members resolved to promote <\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>participation of women in remunerative, productive and decent work<\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">.<\/span><\/span><\/span><\/li>\n<li style=\"list-style-type: circle;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">There was a consensus on <\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>extending social security cover <\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">to the women workers engaged in the informal sector.<\/span><\/span><\/span><\/li>\n<li style=\"list-style-type: circle;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">Im<\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>pact of Covid-19<\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"> on participation of women in the labour force was also discussed.<\/span><\/span><\/span><\/li>\n<\/ul>\n<\/li>\n<li style=\"list-style-type: disc;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>Gig and Platform Workers\u2019 Role in Labour Market<\/strong><\/span><\/span><\/span>\n<ul>\n<li style=\"list-style-type: circle;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">Members discussed how the<\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong> proliferation of Digital Labour Platforms<\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"> is transforming the labour processes in the world of work.<\/span><\/span><\/span><\/li>\n<li style=\"list-style-type: circle;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">They also <\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>discussed challenges<\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"> faced by them and various <\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>measures <\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">being taken by member nations including <\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>extension of social protection system<\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">s.<\/span><\/span><\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong><u>BRICS<\/u><\/strong><\/span><\/span><\/span><\/p>\n<ul>\n<li style=\"list-style-type: disc;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">It is an acronym for the grouping of the <\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>world\u2019s 5 major emerging economies<\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">, namely <\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>Brazil, Russia, India, China<\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"> and <\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>South Africa<\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">.<\/span><\/span><\/span><\/li>\n<li style=\"list-style-type: disc;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>Genesis<\/strong><\/span><\/span><\/span>\n<ul>\n<li style=\"list-style-type: circle;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>July 2006:<\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"> The leaders of <\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>Brazil, Russia, India and China<\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"> met in St. Petersburg, Russia, on the margins of the <\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>G8 Outreach Summit<\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">.<\/span><\/span><\/span><\/li>\n<li style=\"list-style-type: circle;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>September 2006: <\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">They <\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>formalised <\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">the group BRIC during the <\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>First BRIC Foreign Ministers\u2019 Meeting<\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">, which met on the sidelines of the General Debate of the UN Assembly in New York City.<\/span><\/span><\/span><\/li>\n<li style=\"list-style-type: circle;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>June 2009: <\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">First BRIC Summit was held in Yekaterinburg, Russia.<\/span><\/span><\/span><\/li>\n<li style=\"list-style-type: circle;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>September 2010: <\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">South Africa was accepted as a full member at the BRIC Foreign Ministers\u2019 meeting in New York and it was renamed as BRICS.<\/span><\/span><\/span><\/li>\n<\/ul>\n<\/li>\n<li style=\"list-style-type: disc;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>Presidency\/Chairmanship:<\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"> It is rotated <\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>annually <\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">among the members, in <\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>accordance with the acronym B-R-I-C-S<\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"> and its <\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>Leaders\u2019 Summit is held annually<\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">.<\/span><\/span><\/span>\n<ul>\n<li style=\"list-style-type: circle;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>India <\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">has assumed the Presidency for <\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>2021<\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">.<\/span><\/span><\/span><\/li>\n<\/ul>\n<\/li>\n<li style=\"list-style-type: disc;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>Three Pillars<\/strong><\/span><\/span><\/span>\n<ul>\n<li style=\"list-style-type: circle;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>Political and Security:<\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"> To enhance cooperation and dialogue on issues of global and regional security, developments in the global political space, cooperation on countering terrorism, etc.<\/span><\/span><\/span><\/li>\n<li style=\"list-style-type: circle;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>Economic and Financial:<\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"> To promote economic growth, development for mutual prosperity through expansion of intra-BRICS cooperation, aimed to attain Sustainable development Goals (SDGs).<\/span><\/span><\/span><\/li>\n<li style=\"list-style-type: circle;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>Cultural and People-to-People Exchanges:<\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"> To enrich intra-BRICS people to people contacts in cultural, academic, youth, sports, business, through regular exchanges.<\/span><\/span><\/span><\/li>\n<\/ul>\n<\/li>\n<li style=\"list-style-type: disc;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>Significance<\/strong><\/span><\/span><\/span>\n<ul>\n<li style=\"list-style-type: circle;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">BRICS countries have been the <\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>main engines of global economic growth<\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"> over the years.<\/span><\/span><\/span><\/li>\n<li style=\"list-style-type: circle;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">These together represent about <\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>42 per cent<\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"> of the <\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>population<\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">, <\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>23 per cent <\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">of <\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>Gross Domestic Product<\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"> (GDP), <\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>30 per cent<\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"> of the <\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>territory<\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">, and <\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>18 per cent<\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"> of the <\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>global trade<\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">.<\/span><\/span><\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong><u>India\u2019s Low Spending On Health<\/u><\/strong><\/span><\/span><\/span><\/p>\n<ul>\n<li style=\"list-style-type: disc;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">According to the <\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>Department of Economic Affairs<\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"> (DEA), <\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>India&#8217;s public expenditure<\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"> on <\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>health <\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">is the <\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>lowest among the BRICS nations<\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">.<\/span><\/span><\/span><\/li>\n<li style=\"list-style-type: disc;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">It also noted that the <\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>Covid-19 pandemic has caused a setback<\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"> in the journey of SDGs.<\/span><\/span><\/span><\/li>\n<li style=\"list-style-type: disc;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">Also, there is a<\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong> wide variation in the public expenditure<\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"> that happens on <\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>health as well as on education<\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">.<\/span><\/span><\/span>\n<ul>\n<li style=\"list-style-type: circle;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>Education:<\/strong><\/span><\/span><\/span> <span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>Brazil and South Africa<\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"> spend about <\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>6 per cent <\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">of their GDPs and rest of the countries, which include India, spend <\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>4-4.5 per cent <\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">of their GDPs.<\/span><\/span><\/span><\/li>\n<li style=\"list-style-type: circle;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>Health: <\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">India&#8217;s public expenditure is <\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>the least among the BRICS countries<\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">.<\/span><\/span><\/span><\/li>\n<\/ul>\n<\/li>\n<li style=\"list-style-type: disc;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>Suggestions<\/strong><\/span><\/span><\/span>\n<ul>\n<li style=\"list-style-type: circle;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>Technology <\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">should be developed and used in such a way that it <\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>does not lead to further digital divide<\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"> and the poor should have the first access.<\/span><\/span><\/span><\/li>\n<li style=\"list-style-type: circle;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>Telemedicine<\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">, <\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>diagnostic interpretation<\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"> are big areas where access problems can be mitigated to a large extent by using <\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>technology<\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">.<\/span><\/span><\/span><\/li>\n<li style=\"list-style-type: circle;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">There should be a <\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>major investment scale-up<\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"> and <\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>upfront large-scale investments<\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">.<\/span><\/span><\/span>\n<ul>\n<li style=\"list-style-type: square;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>China <\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">achieved the most remarkable sustained growth over four decades through this approach only.<\/span><\/span><\/span><\/li>\n<\/ul>\n<\/li>\n<li style=\"list-style-type: circle;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">The <\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #1155cc;\"><strong><u>New Development Bank<\/u><\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"> (NDB) should also help to bring about <\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>universal access to healthcare services<\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"> through digital access.<\/span><\/span><\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p style=\"text-align: center;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><img decoding=\"async\" style=\"height: 379px; width: 591px;\" src=\"https:\/\/lh5.googleusercontent.com\/nfk8516kgVDrtIOojOpd6JdP2ayklJaLBnFkzX6h6Gy92wzcGaRD_o0kHhujVTYtCA8YdNQ3kw5KouAuutn14oHXTJbQQUhxfO55WLmekm71AO4C6TQpLXibYPrq3G3q8GBir-LE\" \/><\/span><\/span><\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">(Image Courtesy: <\/span><\/span><\/span><a style=\"text-decoration: none;\" href=\"https:\/\/www.livemint.com\/news\/india\/india-s-economy-needs-big-dose-of-health-spending-11586365603651.html\" target=\"_blank\" rel=\"noopener\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #1155cc;\"><u>LM<\/u><\/span><\/span><\/span><\/a><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">)<\/span><\/span><\/span><\/p>\n<div>\n<table style=\"border-collapse: collapse; border: none; table-layout: fixed; width: 624px;\" cellspacing=\"0\">\n<tbody>\n<tr>\n<td style=\"background-color: #fff2cc; vertical-align: top; border: 1px solid #000000;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong><u>International Labour Organization<\/u><\/strong><\/span><\/span><\/span><\/p>\n<ul>\n<li style=\"list-style-type: disc;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">It is the <\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>only tripartite UN agency<\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"> which brings together <\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>governments, employers and workers<\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"> of <\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>187 member States<\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">.<\/span><\/span><\/span><\/li>\n<li style=\"list-style-type: disc;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>Genesis<\/strong><\/span><\/span><\/span>\n<ul>\n<li style=\"list-style-type: circle;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">It was created in <\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>1919<\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">, as part of the <\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>Treaty of Versailles<\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">, that ended <\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>World War I<\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">, to reflect the belief that universal and lasting peace can be accomplished only if it is based on social justice.<\/span><\/span><\/span><\/li>\n<li style=\"list-style-type: circle;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">It became the<\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong> first specialized agency<\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"> of the UN in <\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>1946<\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">.<\/span><\/span><\/span><\/li>\n<\/ul>\n<\/li>\n<li style=\"list-style-type: disc;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>Aims: <\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">To promote rights at work, encourage decent employment opportunities, enhance social protection and strengthen dialogue on work-related issues.<\/span><\/span><\/span><\/li>\n<li style=\"list-style-type: disc;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">The <\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>unique tripartite structure<\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"> of the ILO gives an equal voice to workers, employers and governments to <\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>ensure that the views of the social partners are closely reflected in labour standards<\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"> and in shaping policies and programmes.<\/span><\/span><\/span><\/li>\n<li style=\"list-style-type: disc;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>Major Publications<\/strong><\/span><\/span><\/span>\n<ul>\n<li style=\"list-style-type: circle;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">World Employment and Social Outlook (WESO) Trends Report<\/span><\/span><\/span><\/li>\n<li style=\"list-style-type: circle;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">Global Wage Report<\/span><\/span><\/span><\/li>\n<\/ul>\n<\/li>\n<li style=\"list-style-type: disc;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">It received the <\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>Nobel Peace Prize<\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"> in <\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>1969<\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">.<\/span><\/span><\/span><\/li>\n<\/ul>\n<p><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong><u>International Social Security Agency<\/u><\/strong><\/span><\/span><\/span><\/p>\n<ul>\n<li style=\"list-style-type: disc;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">It is the world\u2019s<\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong> leading international organization<\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"> for social security institutions, government departments and agencies.<\/span><\/span><\/span><\/li>\n<li style=\"list-style-type: disc;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">It was founded in <\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>1927 under the auspices of the ILO<\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"> and currently has over <\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>320 member institutions from over 160 countries<\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">, including <\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>India<\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">.<\/span><\/span><\/span><\/li>\n<li style=\"list-style-type: disc;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>Functions<\/strong><\/span><\/span><\/span>\n<ul>\n<li style=\"list-style-type: circle;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">Promotes excellence in social security administration through professional guidelines, expert knowledge, services<\/span><\/span><\/span><\/li>\n<li style=\"list-style-type: circle;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">Supports to enable its members to develop dynamic social security systems and policy throughout the world.<\/span><\/span><\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong><u>Department of Economic Affairs<\/u><\/strong><\/span><\/span><\/span><\/p>\n<ul>\n<li style=\"list-style-type: disc;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">It is a<\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong> nodal agency<\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"> of the Union Government under the <\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>Ministry of Finance<\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">.<\/span><\/span><\/span><\/li>\n<li style=\"list-style-type: disc;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">It <\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>formulates and monitors India&#8217;s economic policies and programmes<\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"> having a bearing on domestic and international aspects of economic management.<\/span><\/span><\/span><\/li>\n<\/ul>\n<p><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong><u>New Development Bank<\/u><\/strong><\/span><\/span><\/span><\/p>\n<ul>\n<li style=\"list-style-type: disc;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">It is a<\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong> multilateral development bank<\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"> operated by the BRICS states.<\/span><\/span><\/span><\/li>\n<li style=\"list-style-type: disc;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>Establishment:<\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"> In 2014, at the 6<\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><sup>th<\/sup><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"> BRICS Summit at Fortaleza, Brazil, the leaders signed the agreement to establish it.<\/span><\/span><\/span>\n<ul>\n<li style=\"list-style-type: circle;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">It was established with an <\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>initial authorized capital of USD 100 billion<\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">.<\/span><\/span><\/span><\/li>\n<\/ul>\n<\/li>\n<li style=\"list-style-type: disc;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>Headquarter:<\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"> Shanghai, China.<\/span><\/span><\/span><\/li>\n<li style=\"list-style-type: disc;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>Objectives<\/strong><\/span><\/span><\/span>\n<ul>\n<li style=\"list-style-type: circle;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">To foster greater financial and development cooperation among the five emerging markets.<\/span><\/span><\/span><\/li>\n<li style=\"list-style-type: circle;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">To mobilise resources for infrastructure and sustainable development projects in BRICS and other emerging economies and developing countries.<\/span><\/span><\/span><\/li>\n<\/ul>\n<\/li>\n<li style=\"list-style-type: disc;\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">In <\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>2018<\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">, it <\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\"><strong>received observer status in the United Nations General Assembly<\/strong><\/span><\/span><\/span><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">, establishing a firm basis for active and fruitful cooperation with the UN.<\/span><\/span><\/span><\/li>\n<\/ul>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #000000;\">Source: <\/span><\/span><\/span><a style=\"text-decoration: none;\" href=\"https:\/\/pib.gov.in\/PressReleasePage.aspx?PRID=1718229\" target=\"_blank\" rel=\"noopener\"><span style=\"font-size: 11pt;\"><span style=\"font-family: Arial;\"><span style=\"color: #1155cc;\"><u>PIB<\/u><\/span><\/span><\/span><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In News Recently, India has chaired the First BRICS Employment Working Group (EWG) Meeting, held virtually. Participants: Representatives of member nations (Brazil, Russia, India, China and South Africa), the representatives of International Labour Organization (ILO) and International Social Security Agency (ISSA) also made valuable interventions and suggestions on the agenda issues. Prime Agendas of the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":15239,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[21],"tags":[56,57,107,62,30,26,50,34,46,35,64,63],"class_list":["post-15238","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-current-affairs","tag-agreements-involving-india-or-affecting-indias-interests","tag-effect-of-policies-politics-of-developed-developing-countries-on-indias-interests","tag-employment","tag-growth-development","tag-gs-2","tag-gs-3","tag-important-international-institutions","tag-india-foreign-relations","tag-indian-economy-related-issues","tag-international-organisations-groupings","tag-its-bodies-agencies","tag-united-nations"],"acf":[],"jetpack_featured_media_url":"https:\/\/wp-images.nextias.com\/cdn-cgi\/image\/format=auto\/ca\/uploads\/2023\/07\/2702036current-affairs.jpg","_links":{"self":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts\/15238","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/comments?post=15238"}],"version-history":[{"count":1,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts\/15238\/revisions"}],"predecessor-version":[{"id":24459,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts\/15238\/revisions\/24459"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/media\/15239"}],"wp:attachment":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/media?parent=15238"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/categories?post=15238"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/tags?post=15238"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}