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Jairam Ramesh Highlights Manmohan Singh's Role in Establishing BRICS Development Bank

6d ago September 11, 2026 1 min read 📰 Iran Herald
📋 Key Takeaway

Senior Congress leader Jairam Ramesh emphasized former Prime Minister Manmohan Singh's contribution to BRICS by proposing the idea of a BRICS Development Bank in 2012, which eventually led to the establishment of the New Development Bank. This highlights India's role in shaping international financial institutions. For Iran, this development underscores the potential for increased economic collaboration within BRICS, which includes Iran as a member.

🔍 Quick Context Guide
💡 Bottom Line: India's historical role in BRICS development underscores its potential to shape economic alliances that include Iran.

👥 Key Players

Jairam Ramesh MENTIONED
Senior Congress Leader
"As a prominent political figure in India, his remarks highlight the significance of India's role in international financial institutions, which can influence Iran's economic partnerships."
Manmohan Singh MENTIONED
Former Prime Minister of India
"His vision for the BRICS Development Bank underscores India's strategic approach to multilateral financial cooperation, which can impact Iran's economic ties within BRICS."

📰 What Happened

Jairam Ramesh acknowledged Manmohan Singh's pivotal role in proposing the BRICS Development Bank during the 2012 summit, which led to the establishment of the New Development Bank. This highlights India's influence in shaping global financial institutions.

  • The BRICS Development Bank was proposed in 2012 and later established as the New Development Bank.
  • BRICS includes Brazil, Russia, India, China, and South Africa, with Iran being a recent member.

💡 Why It Matters

🇮🇷 For Iran: This development could enhance Iran's economic collaboration with BRICS nations, providing alternative financial avenues amid sanctions.
🌍 Regional: Strengthening BRICS may shift regional power dynamics, potentially countering Western influence in Asia.
🌐 International: The establishment of the New Development Bank presents an alternative to Western-dominated financial institutions, which could affect global economic policies.

📚 Background

BRICS is a coalition of emerging economies aimed at promoting economic cooperation and development. The New Development Bank serves as a financial institution for funding infrastructure and sustainable development projects.

BRICS economic cooperation New Development Bank
📡 Source: NEUTRAL
📊 Confidence: 70%
The source is a news agency reporting on political events, providing a factual account without overt bias.

New Delhi [India], September 10 (ANI): Senior Congress leader Jairam Ramesh on Thursday highlighted former Prime Minister Manmohan Singh's role in the evolution of BRICS, recalling that he had proposed the idea of a BRICS Development Bank during India's first hosting of the summit in 2012, which later led to the establishment of the New Development Bank (NDB).In a post on X, Ramesh traced BRICS' origins, saying

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Translated from the original and edited for English readers. View original source →

Translation confidence: 100%

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