The Declaration pushes for a more equitable norm and the New Development Bank is an interesting outcome. The initial subscribed capital of $50 billion dollars and the responsibilities of the functioning are to be shared equally among the founding members of the bank. While China will host the headquarters, the regional centre will be located in South Africa; similarly the first President of the Bank will be from India, the First Board of Governors from Russia and the first chair of Board of Directors from Brazil.
At the Malabo summit, the member states of the African Union seem to have set forth ambitious goals for pushing development, security and the integration agenda in the continent. Translation of these goals into reality will require coordination and cooperation by the African leaders and other stakeholders at a continental level.
This book represents an effort to build on existing partnerships between African countries and India and to explore new areas of convergence for mutual engagement. It originated from the First India-Africa Strategic Dialogue hosted by the Institute for Defence Studies and Analyses, New Delhi in November 2011. It brings together Indian and African perspectives on global, regional and bilateral issues of strategic relevance to both sides.
The recent terror attack in Nairobi has brought focus on Kenya's involvement in Somalia and indicates that despite the African Union forces' successes last year the Somalia based terrorist group, Al Shabaab, may have regrouped and emerged stronger.
While their growing economic clout has brought Brazil, Russia, India, China and South Africa together, translating the hand holding gestures at the end of each summit into real unity is likely to remain a daunting task.
As a new nation emerges in Africa, India needs to shape its policy to deal with impending changes in Sudan. India’s deep engagement with Sudan suggests that its role in post referendum Sudan will be important
Sixth BRICS Summit: A step towards more equitable global order?
The Declaration pushes for a more equitable norm and the New Development Bank is an interesting outcome. The initial subscribed capital of $50 billion dollars and the responsibilities of the functioning are to be shared equally among the founding members of the bank. While China will host the headquarters, the regional centre will be located in South Africa; similarly the first President of the Bank will be from India, the First Board of Governors from Russia and the first chair of Board of Directors from Brazil.