Some major information about BRICS

1. NAME –ARSH JAMWAL
REG NO.- 12111752
COURSE CODE –POL226
SUBMITTED TO – DR. GURJEET KAUR

2. • BRICS is an acronym for the grouping of the world’s leading emerging economies,
namely Brazil, Russia, India, China and South Africa.
• The BRICS Leaders’ Summit is convened annually.
• The BRICS brings together five of the largest developing countries of the world,
representing 41% of the global population, 24% of the global GDP and 16% of the
global trade.
• It’s an emerging investment market and global power bloc.

4. STRUCTURE OF BRICS
• BRICS does not exist in form of organization, but it is an annual summit between the supreme
leaders of five nations.
• The Chairmanship of the forum is rotated annually among the members, in accordance with the
acronym B-R-I-C-S.
• BRICS cooperation in the past decade has expanded to include an annual programme of over 100
sectoral meetings.

5. OBJECTIVE OF BRICS
• The BRICS seeks to deepen, broaden and intensify cooperation within the grouping and among the
individual countries for more sustainable, equitable and mutually beneficial development.
• BRICS takes into consideration each member’s growth, development and poverty objectives to ensure
relations are built on the respective country’s economic strengths and to avoid competition where
possible.
• BRICS is emerging as a new and promising political-diplomatic entity with diverse objectives, far
beyond the original objective of reforming global financial institutions.

6. IMPORTANCE OF BRICS IN INDIA
• Geo-Politics: Present geopolitics has made it difficult for India to carve a middle path for balancing its strategic
interests between the U.S and the Russia-China axis.
• Therefore, the BRICS platform provides an opportunity for India to balance the Russia-China axis.
• Global Economic Order: BRICS countries shared a common objective of reforming the international financial
and monetary system, with a strong desire to build a more just, and balanced international order
• To this end, the BRICS community plays an important role in the G20, in shaping global economic
policies and promoting financial stability.
• Terrorism: BRICS also provides a platform for India to galvanize its efforts against terrorism.
• Global Grouping: India is actively pursuing its membership for the United Nation Security Council
(UNSC) and Nuclear Supplier Group (NSG).
• China forms the major roadblock in pursuing such goals.
• Therefore, BRICS provides an opportunity to actively engage with China and resolve the mutual disputes. It
also helps in garnering support of other partner countries.

7. CONCLUSION
BRICS (Brazil, Russia, India, China and South Africa) have a shared and growing
economy, a common identity, and a shared future. It is expected that BRICS will
have a larger share of world GDP and will be able to influence its global governance.
BRICS countries have an excellent potential for further development; however, the
political situation is still a significant obstacle to overcome. “They have a huge
potential for the future, but without the political climate being more conducive to
sustainable development, the world is unlikely to see the BRICS as fully developed
economies”.