BRICS innovation base plan by China
Why in News ?
China considering establishing a BRICS innovation base to strengthen practical cooperation with the five-member bloc. It is to focus more on digital transformation, especially in 5G Artificial Intelligence and the digital economy.
What is it ?
- BRICS countries to strengthen their cooperation on digital transformation, especially in 5G, AI, the digital economy.
- Also to promote the digital transformation of enterprises and their innovation capabilities, and to promote sustainable economic and social development.
Possible Chinese Intention
- It is to promote 5G within the BRICS bloc could be part of its interest in pushing their technology on international level.
- Huawei’s name has come up as a contender to build the network in Brazil and South Africa.
- Many countries trying to phasing Chinese technology the new BRICS innovation base may provide them a boost.
India and BRICS
- BRICS multilateral bank, the New Development Bank (NDB) has loaned $4 billion to China, India, South Africa and Brazil to fight the pandemic under the emergency assistance programme.
- India got a loan amount of 1 billion in May to contain the Covid-19 pandemic.
- The emergency amount will helps to reduce human, social and economic losses caused by the corona virus outbreak
India vs Chinese Technology
India is gradually phasing out Chinese vendors from its telecom networks including Huawei following the deadly Galwan Valley clash on June 15.
- Besides Atmanirbhar Bharat India is trying to occupying Indian technology in most of the areas.
- But Indian startup sector that over the past half-decade has attracted billions from Chinese companies.
- China is five to ten years ahead of India in most respects even though India is ahead in a few areas.
- Chinese exports are far larger for manufactures, while India has the lead for business services
- Russia has agreed to work with China on 5G and with Chinese telecommunications firm Huawei
Source : Economic Times
Topic
GS II : Bilateral, regional and global groupings and agreements involving India and/or affecting India’s interests