Understanding BRICS: The Coalition of Emerging Economies
| Aspect | Details |
|---|---|
| Name | BRICS |
| Full Form | Brazil, Russia, India, China, South Africa |
| Established | 2006 (Originally BRIC in 2001, South Africa joined in 2010) |
| Objective | Promote economic growth, cultural exchange, and cooperation in various areas |
| Key Areas of Cooperation | Finance, trade, health, science, security, youth initiatives, disaster management |
| New Members (2024) | Iran, Egypt, Ethiopia, United Arab Emirates, Saudi Arabia (pending confirmation) |
| Key Institutions | New Development Bank, Currency Reserve Pool |
| Key Financial Contribution | $75 billion pledged to IMF (2012) |
| 2024 Chairmanship | Russia |
| 2024 Summit Location | Kazan, Russia |
| 2024 Summit Dates | October 22-25, 2024 |
| 2024 Summit Focus | Politics and Security, Economy and Finance, Cultural and Humanitarian Ties |
| Previous Summits | Annual since 2009, hosted by rotating member countries |
| Global GDP Share | ~37.3% (with new members) |