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News: Space agencies of the BRICS group of nations have been negotiating a framework agreement to formalise the cooperation on building a ‘virtual constellation of remote-sensing satellites’.
Facts:
About BRICS Remote Sensing Satellite Constellation
- Background: 1st BRICS Remote Sensing Satellite Consultation Forum was held In Brazil in 2017.
- Objectives:
o To intensify cooperation among BRICS members and promote bilateral and multilateral relations.
o To carry out resources sharing in order to improve the efficiency of satellite observations for the BRICS countries.
- The constellation would be implemented in two phases:
o Phase 1: Virtual Satellite Constellation: The purpose of the virtual constellation is to get access to satellite remote sensing data. This could be used by the individual BRICS nations for various applications including natural resources management and disaster management.
o Phase 2: Real Satellite Constellation
About BRICS
- BRICS is the acronym coined for an association of five major emerging national economies that have similar economic development. The five countries are Brazil, Russia, India, China and South Africa. Brazil is the current chair of BRICS
- The acronym was first used in 2001 by economist Jim O’Neill.
- In 2010, South Africa was officially admitted as a BRIC nation following an invitation from China and the other BRIC nations, making the current acronym BRICS.
- The BRICS represents 43% of the world’s population, 30% of gross domestic product and 17% of global trade.
India hosts meeting of “BRICS finance and central bank Meeting” 2021
