BRICS is a group of powerful emerging countries working together to boost trade, investment, and global influence, while reducing Western dominance in world affairs. It began as an idea in 2001, became a formal summit group in 2009, and has expanded into a major global bloc representing a huge share of the world’s population and economy.
✨ Remember It in One Line
👉 BRICS = Emerging powers uniting for
economic growth and a multipolar world.
🧠 Key Points (Super Simple)
- Members: Brazil, Russia, India, China, South
Africa + Egypt, Ethiopia, Iran, UAE, Indonesia
- Origin: Coined by Jim O’Neill
(Goldman Sachs) in 2001
- First Summit: 2009
(Russia)
- Main Aim: Economic cooperation + reform of
global institutions
- Global Weight: 40%+
population, ~37% global GDP
📌 Why BRICS Matters
- Strengthens South–South cooperation
- Acts as a counterbalance to Western-led groups
- Shapes future global economic and political order
✅ ONE-LINE MNEMONICS
(Super Easy Memory Tricks)
🔹 BRICS
Original Members
“Big Rich Indians Chase Success”
👉 Brazil, Russia, India, China, South
Africa
🔹 Expanded
BRICS (New Members)
“E³ I² U”
👉 Egypt, Ethiopia, Emirates
(UAE), Iran, Indonesia
🔹 Core
Aim of BRICS
“Trade + Power + Balance”
👉 Economic cooperation + Global governance reform + Multipolar
world
✅ EXAM-READY SHORT NOTES (UPSC / SSC / Banking)
🔹 What
is BRICS?
BRICS is a grouping of major emerging economies formed
to enhance economic cooperation, political
coordination, and reform global institutions,
offering a counterbalance to Western-dominated bodies like
the IMF and World Bank.
🔹 History
& Origin
·
Term “BRIC” coined in 2001 by Jim
O’Neill (Goldman Sachs) to describe fast-growing
economies.
·
Formal cooperation
began in 2006 (Foreign Ministers’ meeting).
·
First BRICS Summit:
2009 (Russia).
·
South Africa joined in
2010,
forming BRICS.
·
Expansion (2023–24): Egypt, Ethiopia,
Iran, UAE, Indonesia.
🔹 Objectives
·
Promote trade, investment, and financial
cooperation
·
Push for reforms in UN, IMF, World Bank
·
Strengthen South–South cooperation
·
Build a multipolar global order
🔹 Institutions
& Cooperation Tracks
·
Track I: Government-to-government
cooperation
·
Track II: Business &
state enterprises
·
Track III: Civil society
& academia
·
Key bodies:
·
BRICS Chamber of
Commerce & Industry (CCI)
·
New Development Bank
(NDB) (often asked in exams)
🔹 Significance
·
Represents 40%+ of world population
·
Accounts for ~37% of global GDP (PPP)
·
Acts as a key engine of global economic growth
·
Increasing geopolitical influence
✅ MCQs (UPSC / SSC / Banking Level)
1. The term “BRIC” was coined by whom?
A. Joseph Stiglitz
B. Jim O’Neill
C. Amartya Sen
D. Paul Krugman
✅ Answer: B
Source: Goldman
Sachs Global Economics Paper (2001)
2. Which country joined BRICS in 2010, converting BRIC into
BRICS?
A. Egypt
B. Indonesia
C. South Africa
D. Iran
✅ Answer: C
Source: Encyclopaedia
Britannica
3. The first BRICS Summit was held in:
A. China (2008)
B. India (2010)
C. Russia (2009)
D. Brazil (2006)
✅ Answer: C
Source: BRICS
Official Declarations
4. Which of the following is NOT a core objective of BRICS?
A. Economic cooperation
B. Military alliance
C. Global governance reform
D. South–South cooperation
✅ Answer: B
Source: BRICS
Summit Statements
5. BRICS represents approximately how much of the world’s
population?
A. 15%
B. 25%
C. 40%+
D. 60%
✅ Answer: C
Source: World
Bank Population Data
🔗 Reputable Sources
- Encyclopaedia Britannica – BRICS
https://www.britannica.com/topic/BRICS - World Bank Data – Global GDP & Population Shares
https://data.worldbank.org - Goldman Sachs Global Economics Paper (2001)
https://www.goldmansachs.com/insights - BRICS Official Portal
https://brics2023.gov.za
