The 2nd Research Conference on BRICS 2023 was held in Kota, India, between 13th and 15th February.
A total of six technical sessions and two symposiums were held on the second day of the three-day ‘Research Conference on BRICS’ that was jointly organised by the Department of Commerce and Management, University of Kota and Durban University.
A wide range of discussions were taking place at this time regarding the economic development of the BRICS countries.
What are BRICS countries?
- BRICS countries are a multilateral forum initiated by Russia. Founded in 2006, the group held its first summit in 2009. It is a union of emerging economies.
- The acronym stands for the countries of Brazil, Russia, India, and China. The BRIC countries eventually became BRICS countries with the addition of South Africa in 2010.
- The group represents major developing economies that aim to impact a number of fields, such as energy, the environment, international trade, and stability. As part of the system, members are expected to cooperate democratically and diplomatically, respect each other, coordinate their actions, and make decisions collectively.
At the open session, Manoranjan Sharma acknowledged that India has immense economic development potential. However, the resources here are not being utilised.
There needs to be cooperation among BRICS countries to reduce economic inequality.
Yenki Hurtigasti, who represented Indonesia, believes that India and Indonesia have a lot in common. The names of the two countries are also very similar and the challenges of both countries are also common. Christopher Russell, representing the UK, said that developed countries can provide lessons for developing countries. Professor Venkatrao described India as a progressive country. It seems that India will be able to move forward at the pace it is currently experiencing.
3 MOUs signed
The conference included the signing of three memorandums of understanding. The memorandums discussed the sharing of students, faculty, and courses between Indonesia, the United Kingdom, and Durban University South Africa. A fourth MOU was supposed to be signed by Turkey, but was unable to take place because of the earthquake.
Dr. Anukreeti Sharma, Head of the Department of Commerce and Management, stated that the signing of the MOU will enable students and the university to obtain information about innovation. She further emphasised that this will provide students with the opportunity to gain valuable insights into the sector of innovation.
In closing, let us reiterate
This step towards cross culture learning by allowing foreign students to study is an appreciable move by University of Kota.
This would open more doors for students studying at University of Kota & give them much needed exposure.