Consider the following statements: Assertion (A): The BRICS Summit in year (2024) was hosted by Russia. Reasoning (R): The motto…

Question

Consider the following statements:

Assertion (A): The BRICS Summit in year (2024) was hosted by Russia. Reasoning (R): The motto of the BRICS Summit 2024 was "Strengthening Multilateralism for Just Global Development and Security." Choose the correct answer:

1. A. A is true but R is false
2. B. Both A and R are true and R is the correct explanation of A (Correct answer)
3. C. A is false but R is true
4. D. Both A and R are true but R is not the correct explanation of A

Correct Answer

Option B — Both A and R are true and R is the correct explanation of A

Detailed Solution & Explanation

The correct answer is Both A and R are true and R is the correct explanation of A.

Key Points

• Assertion (A) is true. The 16th BRICS Summit was hosted by Russia at Kazan from 22 to 24 October 2024, under Russia's chairship of the grouping for that year.
• Reason (R) is true. The theme adopted for the summit was "Strengthening Multilateralism for Just Global Development and Security".
• The motto is chosen by the host nation for its year in the chair, so the theme identified in R belongs to precisely the summit that A describes.

Additional Information

• BRICS began as BRIC — a term coined by economist Jim O'Neill in 2001 — with the first formal summit at Yekaterinburg, Russia, in 2009. South Africa joined in 2010, making it BRICS.
• The Kazan summit was the first after the bloc's major expansion. From 1 January 2024, Egypt, Ethiopia, Iran and the United Arab Emirates became full members. Saudi Arabia was invited but had not confirmed membership.
• Key outcomes at Kazan included the Kazan Declaration, discussion of trade settlement in national currencies, and the introduction of a partner-country category.
• India will host the BRICS summit in 2026.
• The grouping's development bank is the New Development Bank (NDB), headquartered in Shanghai and established in 2014; its first president was K.V. Kamath of India.