What is the Full Form of BRICS?

BRICS Stands for "Brazil, Russia, India, China, and South Africa"

What is BRICS?

BRICS is the acronym coined to associate five major emerging economies: Brazil, Russia, India, China, and South Africa. The BRICS members are known for their significant influence on regional affairs. Since 2009, the governments of the BRICS states have met annually at formal summits. Russia hosted the most recent 12th BRICS summit on 17 November 2020 virtually due to the COVID-19 pandemic.

Know more about BRICS:

The leaders of BRIC (Brazil, Russia, India, and China) countries met for the first time in St. Petersburg, Russia, on the margins of the G8 Outreach Summit in July 2006. Shortly afterwards, in September 2006, the group was formalized as BRIC during the 1st BRIC Foreign Ministers’ Meeting, which met on the sidelines of the General Debate of the UN Assembly in New York City.

After a series of high-level meetings, the 1st BRIC summit was held in Yekaterinburg, Russia on 16 June 2009.

BRIC group was renamed as BRICS (Brazil, Russia, India, China, South Africa) after South Africa was accepted as a full member at the BRIC Foreign Ministers’ meeting in New York in September 2010. Accordingly, South Africa attended the 3rd BRICS Summit in Sanya, China on 14 April 2011.

BRICS is an important grouping bringing together the major emerging economies from the world, comprising 41% of the world population*, having 24% of the world GDP* and over 16% share in the world trade*. BRICS countries have been the main engines of global economic growth over the years. Over some time, BRICS countries have come together to deliberate on important issues under the three pillars of political and security, economic and financial and cultural and people to people exchanges.

* Based on World Bank data (2019)

Key Objectives BRICS:

• To help, advance and accomplish territorial turn of events
• To go about as a scaffold among created and agricultural countries
• To help the non-industrial nations in picking up a favourable position in arrangements concerning the exchange and environmental change
• To build up a stage to share data identified with instruction, culture, and climate other than financial collaboration