In 2012, India was considered the weakest link among BRICS countries such as Brazil, Russia, China and South Africa. There were talks about the prospect of a country like Indonesia replacing India at BRICS.
Noting the severe effects of lockdown on Indian economy, the World Bank said that India needed to continue with critical reforms to reverse the sudden effects of the pandemic.
FM Sitharaman while announcing the fourth tranche of the Rs 20 lakh crore package said that by building a self-reliant India, the country needs to prepare for global competition.