BRICS ias pedia upsc world
  • BRICS is an association of five major emerging national economies:
    • India,
  • The BRICS members are all leading developing or newly industrialized countries.
  • They are distinguished by their large, sometimes fast-growing economies and significant influence on regional affairs.
  • BRICS brings together five major emerging economies comprising:
    • 42 % of the world’s population,
    • 23 % of the global GDP and
    • Around 17 % of the share and world trade.
  • All five are G-20 members.
  • Bilateral relations among BRICS nations have mainly been conducted on the basis of non-interference, equality, and mutual benefit.


  • Originally the first four were grouped as “BRIC” (or “the BRICs”).
  • In 2010, South Africa was inducted into BRICs and became BRICS.

BRICS and the New Development Bank (NDB):

  • The New Development Bank (NDB) is a multilateral development bank operated by the BRICS states.
  • It was formerly referred to as the BRICS Development Bank.
  • It will have a capital of US$50 billion with each country contributing US$10 billion, while the monetary fund will have US$100 billion at its disposal.

BRICS Cable:

  • Since 2012, the BRICS group of countries have been planning an optical fibre submarine communications cable system.
  • Why? ⇒ To carry telecommunications between the BRICS countries.
  • It is known as the BRICS Cable.


The BRICS Contingent Reserve Arrangement (CRA) is a framework for providing protection against global liquidity pressures.

BRICS Summits:

  • Since 2009, the BRICS nations have met annually at formal summits.
  • Prime Minister Shri Narendra Modi led India’s participation at the 14thBRICS Summit, convened under the Chairship of President Xi Jinping of China on 23-24June 2022, in a virtual format.


  1. PIB
  2. Wikipedia.

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