Current Affairs - International

Colombia and Uzbekistan became the newest members of the New Development Bank (NDB) just before the 17th BRICS Summit, increasing the total membership to 11 countries. Their inclusion marks a strategic expansion of the NDB, reflecting its growing global reach and commitment to supporting development in emerging economies. Originally formed by the BRICS nations in 2015, the NDB has since welcomed several countries outside the BRICS core. With Colombia and Uzbekistan on board, the bank aims to strengthen ties with the Global South and provide more infrastructure and development financing, particularly in areas like digital technology, clean energy, and sustainability.

The 17th BRICS Summit in 2025 was hosted by Brazil in the city of Rio de Janeiro and attended by Prime Minister Narendra Modi along with other BRICS leaders. The summit served as a critical platform for discussing reforms in global governance, addressing issues of peace and security, and promoting the role of the Global South. One of the key themes was the future of Artificial Intelligence and strengthening cooperation among BRICS nations. Brazil’s hosting of this summit underlined its importance in international diplomacy and its role in shaping multilateral efforts for global reform, especially on matters like UN restructuring and AI governance.

The 4th International Conference on Financing for Development (FFD4) took place in Seville, Spain. At this global event, India’s Finance Minister stressed the importance of reforming sovereign credit rating systems and multilateral development banks (MDBs). The aim of these reforms is to create a more equitable and inclusive financial system that supports sustainable development for all nations. By highlighting these issues on an international platform, India is advocating for fairer evaluation standards that can help developing countries access funding and investment more easily, thereby reducing reliance on outdated and often biased financial metrics established by Western institutions.

Microsoft, a major global tech company, officially shut down its operations in Pakistan on July 3, 2025, ending a 25-year presence in the country. The closure was part of a broader global strategy to focus more on cloud services and streamline operations, including cutting approximately 9,100 jobs worldwide. Microsoft had only maintained liaison offices in Pakistan, with most functions already transitioned to local partners and handled from regional hubs like Ireland. This decision raised concerns among business and political leaders, who view the exit as a signal of Pakistan’s increasingly difficult environment for foreign tech firms.

India hosted the 23rd Regional Meeting of National Authorities of States Parties in Asia under the Chemical Weapons Convention (CWC), reaffirming its commitment to chemical disarmament and non-proliferation. India is not only an original signatory to the CWC but also implements it through its National Authority Chemical Weapons Convention (NACWC), as per the Chemical Weapons Convention Act of 2000. India’s leadership role is further reflected in the recognition of the Indian Chemical Council (ICC), which became the first industry body in the world to receive the prestigious OPCW-The Hague Award in 2024. This demonstrates India's proactive role in global chemical safety governance.