What is Brics

 BRICS is an acronym that stands for a group of five major emerging national economies: Brazil, Russia, India, China, and South Africa. Originally formed as "BRIC" in 2006, it became "BRICS" in 2010 when South Africa joined the group. These countries came together with the objective of promoting peace, development, and cooperation among themselves while also advocating for a more balanced and fair global economic order. BRICS represents a significant share of the world’s population, natural resources, and global GDP, making it a powerful bloc in international affairs. The group functions through annual summits, ministerial meetings, and forums focusing on issues such as trade, infrastructure development, sustainable development, and reform of international financial institutions like the IMF and the World Bank. BRICS also launched the New Development Bank (NDB) to finance infrastructure and sustainable development projects, especially in developing countries. Despite their differences in political systems, economic models, and regional interests, the BRICS nations aim to challenge Western dominance in global institutions and provide a platform for South-South cooperation. Over time, BRICS has grown not just as an economic coalition but also as a political voice for many in the Global South.


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