BRICS

Description

Context:

Brazil, Russia, India, China and South Africa (BRICS) signs deal on cooperation in remote sensing satellite data sharing. The agreement was signed under India’s BRICS Chairship.

Significance of this move:

It enables building a virtual constellation of specified remote sensing satellites of BRICS space agencies and their respective ground stations will receive the data.
It will contribute in strengthening multilateral cooperation among BRICS space agencies in meeting the challenges faced by mankind, such as global climate change, major disasters and environmental protection.

What is BRICS? How did these countries come together?

It is an informal group of states comprising the Federative Republic of Brazil, the Russian Federation, the Republic of India, the People’s Republic of China and the Republic of South Africa.
It is actually a forum than a traditional-type organization with rigid membership and regulations.
Originally the first four were grouped as "BRIC" (or "the BRICs"), before the induction of South Africa in 2010.
At the Fortaleza Summit (2014), in Brazil, the New Development Bank (NDB) and the Contingent Reserve Arrangement (CRA) were created
Among other areas of collaboration, matters pertaining to drug trafficking is an important area of cooperation among the BRICS member states.